Massachusetts Financial Services Co. MA Raises Holdings in Toronto Dominion Bank (The) $TD

by · The Cerbat Gem

Massachusetts Financial Services Co. MA grew its stake in Toronto Dominion Bank (The) (NYSE:TD – Free Report) (TSE:TD) by 7.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 12,081,305 shares of the bank’s stock after buying an additional 792,387 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.71% of Toronto Dominion Bank worth $965,900,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. Canada Pension Plan Investment Board boosted its holdings in shares of Toronto Dominion Bank by 18.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 12,470,618 shares of the bank’s stock valued at $917,832,000 after buying an additional 1,946,172 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Toronto Dominion Bank by 0.8% in the second quarter. The Manufacturers Life Insurance Company now owns 13,815,706 shares of the bank’s stock valued at $1,010,852,000 after acquiring an additional 115,203 shares during the last quarter. Triasima Portfolio Management inc. acquired a new position in Toronto Dominion Bank in the second quarter valued at $8,492,000. Picton Mahoney Asset Management purchased a new position in shares of Toronto Dominion Bank during the second quarter worth about $267,475,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Toronto Dominion Bank by 3.2% during the second quarter. Bank of New York Mellon Corp now owns 1,658,144 shares of the bank’s stock worth $121,791,000 after purchasing an additional 51,698 shares during the last quarter. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on TD shares. Wall Street Zen cut Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research report on Saturday, January 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Toronto Dominion Bank in a report on Wednesday, October 8th. National Bank Financial upgraded shares of Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research report on Thursday, December 18th. Natl Bk Canada upgraded shares of Toronto Dominion Bank from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 17th. Finally, Raymond James Financial raised shares of Toronto Dominion Bank to a “hold” rating in a research report on Monday, November 24th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $93.00.

View Our Latest Stock Analysis on TD

Toronto Dominion Bank Price Performance

Shares of NYSE TD opened at $93.79 on Friday. The company has a market cap of $157.41 billion, a PE ratio of 11.13, a P/E/G ratio of 1.31 and a beta of 0.67. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.03 and a quick ratio of 1.03. Toronto Dominion Bank has a 1-year low of $54.14 and a 1-year high of $96.44. The stock has a fifty day moving average price of $89.15 and a 200 day moving average price of $81.07.

Toronto Dominion Bank (NYSE:TD – Get Free Report) (TSE:TD) last issued its earnings results on Thursday, December 4th. The bank reported $1.56 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.10. The business had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $10.10 billion. Toronto Dominion Bank had a net margin of 16.52% and a return on equity of 13.90%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.72 earnings per share. Sell-side analysts forecast that Toronto Dominion Bank will post 5.48 EPS for the current year.

Toronto Dominion Bank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, January 31st. Investors of record on Friday, January 9th will be paid a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.6%. This is a boost from Toronto Dominion Bank’s previous quarterly dividend of $1.05. The ex-dividend date is Friday, January 9th. Toronto Dominion Bank’s dividend payout ratio (DPR) is presently 37.37%.

About Toronto Dominion Bank

(Free Report)

Toronto-Dominion Bank (TD) is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. Formed through the 1955 merger of the Bank of Toronto (founded 1855) and the Dominion Bank (founded 1869), TD is one of Canada’s largest banks and offers a broad range of financial products and services to individual, small business, commercial and institutional clients.

TD’s core businesses include Canadian and U.S. personal and commercial banking, wealth management, wholesale banking and insurance.

Featured Articles