Toronto Dominion Bank (The) $TD Shares Bought by Public Sector Pension Investment Board

by · The Markets Daily

Public Sector Pension Investment Board increased its stake in Toronto Dominion Bank (The) (NYSE:TD – Free Report) (TSE:TD) by 1,477.7% during the 2nd quarter, Holdings Channel.com reports. The fund owned 2,666,729 shares of the bank’s stock after buying an additional 2,497,700 shares during the period. Toronto Dominion Bank accounts for approximately 0.8% of Public Sector Pension Investment Board’s portfolio, making the stock its 18th largest position. Public Sector Pension Investment Board’s holdings in Toronto Dominion Bank were worth $195,749,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TD. Canada Pension Plan Investment Board increased its position in shares of Toronto Dominion Bank by 18.5% during the second quarter. Canada Pension Plan Investment Board now owns 12,470,618 shares of the bank’s stock worth $917,832,000 after acquiring an additional 1,946,172 shares during the last quarter. Triasima Portfolio Management inc. purchased a new position in Toronto Dominion Bank in the second quarter valued at about $8,492,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Toronto Dominion Bank by 41.9% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,407,273 shares of the bank’s stock valued at $264,134,000 after purchasing an additional 1,302,281 shares in the last quarter. Picton Mahoney Asset Management acquired a new stake in Toronto Dominion Bank during the 2nd quarter valued at approximately $267,475,000. Finally, The Manufacturers Life Insurance Company increased its holdings in Toronto Dominion Bank by 0.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,815,706 shares of the bank’s stock worth $1,010,852,000 after purchasing an additional 115,203 shares during the last quarter. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on TD. Raymond James Financial upgraded Toronto Dominion Bank to a “hold” rating in a research note on Monday, November 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of Toronto Dominion Bank in a research note on Wednesday, October 8th. Royal Bank Of Canada raised shares of Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a report on Friday, October 3rd. Wall Street Zen raised shares of Toronto Dominion Bank from a “sell” rating to a “hold” rating in a research report on Saturday, November 15th. Finally, Jefferies Financial Group cut shares of Toronto Dominion Bank from a “buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.00.

Read Our Latest Report on TD

Toronto Dominion Bank Stock Down 0.4%

Shares of NYSE:TD opened at $91.45 on Friday. The company’s fifty day moving average is $82.53 and its two-hundred day moving average is $77.05. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.03 and a current ratio of 1.03. Toronto Dominion Bank has a 1-year low of $51.25 and a 1-year high of $92.11. The stock has a market capitalization of $154.50 billion, a price-to-earnings ratio of 10.85, a price-to-earnings-growth ratio of 1.27 and a beta of 0.69.

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

Toronto Dominion Bank Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, January 31st. Stockholders of record on Friday, January 9th will be issued a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 4.7%. This is a boost from Toronto Dominion Bank’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, January 9th. Toronto Dominion Bank’s dividend payout ratio is currently 35.82%.

Toronto Dominion Bank Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding TD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Toronto Dominion Bank (The) (NYSE:TD – Free Report) (TSE:TD).