Ritholtz Wealth Management Buys 2,081 Shares of The Toronto-Dominion Bank (NYSE:TD)

Ritholtz Wealth Management grew its stake in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 30.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,852 shares of the bank’s stock after purchasing an additional 2,081 shares during the period. Ritholtz Wealth Management’s holdings in The Toronto-Dominion Bank were worth $577,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in TD. Winslow Evans & Crocker Inc. bought a new stake in shares of The Toronto-Dominion Bank in the 4th quarter valued at approximately $51,000. GSA Capital Partners LLP bought a new stake in shares of The Toronto-Dominion Bank in the 4th quarter valued at approximately $215,000. Regentatlantic Capital LLC bought a new stake in The Toronto-Dominion Bank during the 4th quarter worth approximately $242,000. NewSquare Capital LLC grew its position in The Toronto-Dominion Bank by 0.9% during the 4th quarter. NewSquare Capital LLC now owns 52,330 shares of the bank’s stock worth $2,952,000 after acquiring an additional 460 shares during the last quarter. Finally, Intact Investment Management Inc. grew its position in The Toronto-Dominion Bank by 68.0% during the 4th quarter. Intact Investment Management Inc. now owns 1,986,890 shares of the bank’s stock worth $142,500,000 after acquiring an additional 804,537 shares during the last quarter. Institutional investors own 51.21% of the company’s stock.

NYSE:TD opened at $71.99 on Friday. The stock’s fifty day moving average price is $69.72. The Toronto-Dominion Bank has a 52-week low of $42.90 and a 52-week high of $73.85. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market cap of $131.05 billion, a P/E ratio of 14.46, a price-to-earnings-growth ratio of 1.08 and a beta of 1.05.

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings results on Wednesday, May 26th. The bank reported $2.04 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.65. The company had revenue of $10.23 billion for the quarter, compared to the consensus estimate of $9.80 billion. The Toronto-Dominion Bank had a return on equity of 11.78% and a net margin of 23.82%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.85 EPS. Analysts forecast that The Toronto-Dominion Bank will post 5.82 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Saturday, July 31st. Stockholders of record on Friday, July 9th will be paid a $0.6521 dividend. The ex-dividend date of this dividend is Thursday, July 8th. This represents a $2.61 dividend on an annualized basis and a dividend yield of 3.62%. This is an increase from The Toronto-Dominion Bank’s previous quarterly dividend of $0.63. The Toronto-Dominion Bank’s dividend payout ratio is 62.16%.

TD has been the topic of a number of research analyst reports. Canaccord Genuity increased their price target on The Toronto-Dominion Bank from $83.00 to $86.50 and gave the stock a “hold” rating in a research report on Wednesday, April 21st. Desjardins increased their price target on The Toronto-Dominion Bank from $79.00 to $83.00 and gave the stock a “buy” rating in a research report on Monday, March 1st. Scotiabank increased their price target on The Toronto-Dominion Bank from C$91.00 to C$95.00 and gave the stock a “sector perform” rating in a research report on Thursday, May 20th. Royal Bank of Canada increased their price target on The Toronto-Dominion Bank from C$82.00 to C$91.00 and gave the stock a “sector perform” rating in a research report on Friday, May 28th. Finally, CIBC increased their price target on The Toronto-Dominion Bank from C$88.00 to C$97.00 and gave the stock an “outperform” rating in a research report on Thursday, May 20th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $83.95.

About The Toronto-Dominion Bank

The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. It operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The company offers personal deposits, such as chequing, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; and financing options to customers at point of sale for automotive and recreational vehicle purchases through auto dealer network.

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Institutional Ownership by Quarter for The Toronto-Dominion Bank (NYSE:TD)

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