Clearbridge Investments LLC Acquires 213,557 Shares of The Toronto-Dominion Bank (NYSE:TD)

Clearbridge Investments LLC increased its holdings in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 7.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,065,894 shares of the bank’s stock after purchasing an additional 213,557 shares during the quarter. Clearbridge Investments LLC owned 0.18% of Toronto-Dominion Bank worth $168,496,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Williams Financial LLC purchased a new position in shares of Toronto-Dominion Bank in the second quarter worth about $10,454,000. Dixon Mitchell Investment Counsel Inc. grew its position in Toronto-Dominion Bank by 2.7% during the 1st quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,388,528 shares of the bank’s stock worth $83,881,000 after acquiring an additional 37,002 shares during the last quarter. Intech Investment Management LLC purchased a new position in Toronto-Dominion Bank in the 1st quarter worth approximately $6,454,000. FORA Capital LLC bought a new stake in Toronto-Dominion Bank in the first quarter valued at approximately $4,025,000. Finally, V Square Quantitative Management LLC boosted its stake in shares of Toronto-Dominion Bank by 5,032.5% during the fourth quarter. V Square Quantitative Management LLC now owns 15,808 shares of the bank’s stock valued at $1,022,000 after purchasing an additional 15,500 shares during the period. 52.37% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on TD. National Bank Financial raised shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research note on Thursday, August 22nd. StockNews.com lowered shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Thursday, August 22nd. Finally, UBS Group assumed coverage on shares of Toronto-Dominion Bank in a research note on Tuesday, July 2nd. They set a “neutral” rating for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $84.00.

Toronto-Dominion Bank Price Performance

Shares of Toronto-Dominion Bank stock opened at $63.54 on Wednesday. The business has a 50 day moving average of $59.98 and a 200 day moving average of $58.02. The Toronto-Dominion Bank has a 52 week low of $53.52 and a 52 week high of $65.12. The company has a market cap of $111.09 billion, a PE ratio of 14.44, a P/E/G ratio of 1.85 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.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its earnings results on Thursday, August 22nd. The bank reported $2.05 EPS for the quarter, topping the consensus estimate of $1.49 by $0.56. Toronto-Dominion Bank had a net margin of 6.94% and a return on equity of 14.34%. The firm had revenue of $14.18 billion during the quarter, compared to analysts’ expectations of $9.40 billion. During the same period last year, the company posted $1.48 EPS. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, equities research analysts forecast 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 disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be given a dividend of $0.739 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.96 annualized dividend and a yield of 4.65%. Toronto-Dominion Bank’s payout ratio is 67.73%.

Toronto-Dominion Bank Company 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.