Intech Investment Management LLC Purchases 193,363 Shares of The Toronto-Dominion Bank (NYSE:TD)

Intech Investment Management LLC boosted its position in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 181.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 300,218 shares of the bank’s stock after acquiring an additional 193,363 shares during the quarter. Intech Investment Management LLC’s holdings in Toronto-Dominion Bank were worth $16,499,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in TD. Park Avenue Securities LLC boosted its position in Toronto-Dominion Bank by 5.3% in the first quarter. Park Avenue Securities LLC now owns 3,641 shares of the bank’s stock valued at $220,000 after buying an additional 184 shares in the last quarter. Consolidated Portfolio Review Corp boosted its position in Toronto-Dominion Bank by 1.6% in the first quarter. Consolidated Portfolio Review Corp now owns 11,583 shares of the bank’s stock valued at $699,000 after buying an additional 186 shares in the last quarter. First Affirmative Financial Network boosted its position in Toronto-Dominion Bank by 1.9% in the second quarter. First Affirmative Financial Network now owns 10,120 shares of the bank’s stock valued at $556,000 after buying an additional 190 shares in the last quarter. Wright Investors Service Inc. boosted its position in Toronto-Dominion Bank by 0.5% in the first quarter. Wright Investors Service Inc. now owns 35,158 shares of the bank’s stock valued at $2,123,000 after buying an additional 191 shares in the last quarter. Finally, Balanced Rock Investment Advisors LLC boosted its position in Toronto-Dominion Bank by 1.4% in the second quarter. Balanced Rock Investment Advisors LLC now owns 14,959 shares of the bank’s stock valued at $822,000 after buying an additional 203 shares in the last quarter. 52.37% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on TD shares. BMO Capital Markets cut their target price on shares of Toronto-Dominion Bank from $86.00 to $84.00 and set a “market perform” rating on the stock in a research report on Friday, May 24th. UBS Group assumed coverage on shares of Toronto-Dominion Bank in a report on Tuesday, July 2nd. They set a “neutral” rating on the stock. StockNews.com lowered shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Thursday, August 22nd. Cibc World Mkts upgraded shares of Toronto-Dominion Bank from a “hold” rating to a “strong-buy” rating in a report on Friday, May 24th. Finally, National Bank Financial upgraded shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Toronto-Dominion Bank currently has an average rating of “Hold” and an average target price of $84.00.

Toronto-Dominion Bank Price Performance

TD stock opened at $64.41 on Friday. The firm has a market cap of $112.55 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 1.84 and a beta of 0.81. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.10. The Toronto-Dominion Bank has a 12-month low of $53.52 and a 12-month high of $65.12. The company’s fifty day simple moving average is $59.07 and its 200 day simple moving average is $57.86.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.56. The business had revenue of $14.18 billion for the quarter, compared to analyst estimates of $9.40 billion. Toronto-Dominion Bank had a net margin of 6.94% and a return on equity of 14.34%. Toronto-Dominion Bank’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.48 earnings per share. On average, analysts expect that The Toronto-Dominion Bank will post 5.84 earnings per share for the current year.

Toronto-Dominion Bank Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 10th will be issued a $0.739 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.96 annualized dividend and a yield of 4.59%. Toronto-Dominion Bank’s payout ratio is 68.64%.

Toronto-Dominion Bank Profile

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.