Cornerstone Advisors Inc. grew its holdings in Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 5.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,746 shares of the bank’s stock after buying an additional 193 shares during the quarter. Cornerstone Advisors Inc.’s holdings in Toronto-Dominion Bank were worth $219,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in TD. TD Asset Management Inc. increased its position in Toronto-Dominion Bank by 2.4% in the first quarter. TD Asset Management Inc. now owns 48,855,643 shares of the bank’s stock worth $2,652,053,000 after purchasing an additional 1,157,886 shares during the period. Beutel Goodman & Co Ltd. increased its position in Toronto-Dominion Bank by 0.4% in the first quarter. Beutel Goodman & Co Ltd. now owns 22,865,823 shares of the bank’s stock worth $1,240,855,000 after purchasing an additional 87,259 shares during the period. CIBC Asset Management Inc increased its position in Toronto-Dominion Bank by 13.3% in the first quarter. CIBC Asset Management Inc now owns 21,510,636 shares of the bank’s stock worth $1,167,313,000 after purchasing an additional 2,517,475 shares during the period. Toronto Dominion Bank increased its position in Toronto-Dominion Bank by 48.9% in the first quarter. Toronto Dominion Bank now owns 16,443,402 shares of the bank’s stock worth $892,223,000 after purchasing an additional 5,402,536 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in Toronto-Dominion Bank by 2.6% in the first quarter. The Manufacturers Life Insurance Company now owns 15,979,026 shares of the bank’s stock worth $868,140,000 after purchasing an additional 411,540 shares during the period. Institutional investors own 48.12% of the company’s stock.
Toronto-Dominion Bank stock opened at $53.93 on Friday. The firm has a market capitalization of $103.05 billion, a P/E ratio of 10.72, a PEG ratio of 1.78 and a beta of 1.04. Toronto-Dominion Bank has a 1 year low of $47.73 and a 1 year high of $62.00. The business has a 50-day moving average of $57.99 and a 200-day moving average of $56.70. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.11.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th were issued a dividend of $0.5511 per share. This represents a $2.20 annualized dividend and a dividend yield of 4.09%. The ex-dividend date of this dividend was Tuesday, July 9th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 44.93%.
A number of brokerages recently commented on TD. Bank of America lowered Toronto-Dominion Bank from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $82.00 to $77.00 in a research report on Thursday. Barclays upgraded Toronto-Dominion Bank from an “equal weight” rating to an “overweight” rating and set a $84.00 target price for the company in a research report on Tuesday, June 11th. National Bank Financial lowered Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research report on Thursday, May 23rd. Zacks Investment Research upgraded Toronto-Dominion Bank from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research report on Friday, August 9th. Finally, BMO Capital Markets restated a “buy” rating on shares of Toronto-Dominion Bank in a research report on Friday, May 24th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Toronto-Dominion Bank currently has a consensus rating of “Buy” and an average target price of $74.67.
Toronto-Dominion Bank Company Profile
The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. The company operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. It offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; financing options to customers at point of sale for automotive and recreational vehicle purchases through auto dealer network; credit cards; investing, advice-based, and asset management services to retail and institutional clients; and property and casualty insurance, as well as life and health insurance products.
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