Intech Investment Management LLC Takes $6.45 Million Position in The Toronto-Dominion Bank (NYSE:TD)

Intech Investment Management LLC acquired a new stake in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 106,855 shares of the bank’s stock, valued at approximately $6,454,000.

Other large investors have also made changes to their positions in the company. Mather Group LLC. purchased a new stake in shares of Toronto-Dominion Bank in the 1st quarter valued at $29,000. Bank of New Hampshire acquired a new stake in Toronto-Dominion Bank during the fourth quarter valued at $32,000. LifeSteps Financial Inc. acquired a new stake in Toronto-Dominion Bank during the first quarter valued at $30,000. Avior Wealth Management LLC grew its position in Toronto-Dominion Bank by 92.9% during the fourth quarter. Avior Wealth Management LLC now owns 594 shares of the bank’s stock valued at $38,000 after buying an additional 286 shares during the period. Finally, Optiver Holding B.V. acquired a new stake in Toronto-Dominion Bank during the fourth quarter valued at $39,000. 52.37% of the stock is owned by hedge funds and other institutional investors.

Toronto-Dominion Bank Price Performance

Shares of NYSE TD traded down $0.19 during trading on Friday, hitting $57.90. The company had a trading volume of 1,211,909 shares, compared to its average volume of 2,894,231. The stock has a fifty day simple moving average of $55.75 and a two-hundred day simple moving average of $58.22. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $101.17 billion, a price-to-earnings ratio of 13.16, a price-to-earnings-growth ratio of 1.59 and a beta of 0.82. The Toronto-Dominion Bank has a fifty-two week low of $53.52 and a fifty-two week high of $66.15.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings results on Thursday, May 23rd. The bank reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.15. The firm had revenue of $10.18 billion for the quarter, compared to the consensus estimate of $9.90 billion. Toronto-Dominion Bank had a net margin of 9.96% and a return on equity of 14.38%. On average, research analysts expect that The Toronto-Dominion Bank will post 5.86 earnings per share for the current year.

Toronto-Dominion Bank Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th will be paid a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 5.11%. The ex-dividend date of this dividend is Wednesday, July 10th. Toronto-Dominion Bank’s dividend payout ratio is currently 67.73%.

Wall Street Analyst Weigh In

TD has been the topic of several analyst reports. Cibc World Mkts upgraded shares of Toronto-Dominion Bank from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 24th. UBS Group initiated coverage on shares of Toronto-Dominion Bank in a research report on Tuesday, July 2nd. They set a “neutral” rating on the stock. StockNews.com upgraded shares of Toronto-Dominion Bank from a “sell” rating to a “hold” rating in a research report on Monday, July 15th. Scotiabank upgraded shares of Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, April 17th. Finally, BMO Capital Markets dropped 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. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $88.00.

About Toronto-Dominion Bank

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.