Drive Wealth Management LLC Grows Stock Holdings in The Toronto-Dominion Bank (NYSE:TD)

Drive Wealth Management LLC boosted its stake in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 13.6% in the third quarter, HoldingsChannel reports. The firm owned 5,959 shares of the bank’s stock after acquiring an additional 714 shares during the period. Drive Wealth Management LLC’s holdings in Toronto-Dominion Bank were worth $377,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Triad Wealth Partners LLC bought a new stake in shares of Toronto-Dominion Bank in the second quarter worth $31,000. Blue Trust Inc. boosted its position in Toronto-Dominion Bank by 50.7% in the second quarter. Blue Trust Inc. now owns 630 shares of the bank’s stock worth $38,000 after purchasing an additional 212 shares during the last quarter. Kimelman & Baird LLC purchased a new stake in shares of Toronto-Dominion Bank during the 2nd quarter valued at about $49,000. BOKF NA increased its position in shares of Toronto-Dominion Bank by 203.6% during the 1st quarter. BOKF NA now owns 1,014 shares of the bank’s stock valued at $61,000 after purchasing an additional 680 shares during the last quarter. Finally, Eastern Bank bought a new position in shares of Toronto-Dominion Bank in the 3rd quarter worth approximately $66,000. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Toronto-Dominion Bank Stock Performance

Shares of NYSE TD opened at $56.27 on Tuesday. The stock has a market cap of $98.49 billion, a PE ratio of 17.98, a price-to-earnings-growth ratio of 1.59 and a beta of 0.82. The Toronto-Dominion Bank has a 1 year low of $53.52 and a 1 year high of $65.12. The firm has a fifty day moving average price of $59.36 and a 200-day moving average price of $57.72. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.02 and a quick ratio of 1.02.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings results on Thursday, August 22nd. The bank reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.56. The business had revenue of $14.18 billion for the quarter, compared to analysts’ expectations of $9.40 billion. Toronto-Dominion Bank had a return on equity of 14.34% and a net margin of 6.94%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the firm earned $1.48 earnings per share. Equities analysts anticipate that The Toronto-Dominion Bank will post 5.8 earnings per share for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were issued a $0.739 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $2.96 dividend on an annualized basis and a yield of 5.25%. Toronto-Dominion Bank’s dividend payout ratio is presently 96.49%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Royal Bank of Canada lowered shares of Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research report on Friday, October 11th. National Bank Financial raised shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research report on Thursday, August 22nd. Finally, StockNews.com cut Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Toronto-Dominion Bank presently has an average rating of “Hold” and a consensus target price of $84.00.

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.