Lorne Steinberg Wealth Management Inc. Has $8.49 Million Stake in The Toronto-Dominion Bank (NYSE:TD)

Lorne Steinberg Wealth Management Inc. increased its stake in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 3.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 131,425 shares of the bank’s stock after buying an additional 3,780 shares during the quarter. Toronto-Dominion Bank comprises approximately 2.9% of Lorne Steinberg Wealth Management Inc.’s holdings, making the stock its 5th largest position. Lorne Steinberg Wealth Management Inc.’s holdings in Toronto-Dominion Bank were worth $8,494,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of Toronto-Dominion Bank by 1.8% in the third quarter. Vanguard Group Inc. now owns 72,384,265 shares of the bank’s stock worth $4,361,876,000 after purchasing an additional 1,303,730 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Toronto-Dominion Bank by 0.4% in the third quarter. CIBC Asset Management Inc now owns 17,918,370 shares of the bank’s stock worth $1,082,848,000 after purchasing an additional 76,129 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Toronto-Dominion Bank by 20.1% in the third quarter. The Manufacturers Life Insurance Company now owns 17,134,868 shares of the bank’s stock worth $1,039,691,000 after purchasing an additional 2,870,662 shares in the last quarter. Toronto Dominion Bank grew its stake in shares of Toronto-Dominion Bank by 0.9% in the third quarter. Toronto Dominion Bank now owns 14,630,614 shares of the bank’s stock worth $881,641,000 after purchasing an additional 126,116 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Toronto-Dominion Bank by 3.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,171,750 shares of the bank’s stock worth $673,210,000 after purchasing an additional 342,932 shares in the last quarter. 52.37% of the stock is currently owned by institutional investors.

Toronto-Dominion Bank Trading Down 0.8 %

Shares of NYSE TD traded down $0.49 during mid-day trading on Wednesday, hitting $58.43. 585,927 shares of the company traded hands, compared to its average volume of 2,943,010. The Toronto-Dominion Bank has a 1 year low of $54.69 and a 1 year high of $66.15. The stock has a market capitalization of $103.02 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 1.81 and a beta of 0.86. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.09. The business has a 50 day moving average of $59.37 and a two-hundred day moving average of $60.08.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings data on Thursday, February 29th. The bank reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.05. The firm had revenue of $10.07 billion during the quarter, compared to the consensus estimate of $9.35 billion. Toronto-Dominion Bank had a return on equity of 14.15% and a net margin of 11.16%. On average, sell-side analysts anticipate that The Toronto-Dominion Bank will post 5.85 earnings per share for the current fiscal year.

Toronto-Dominion Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 9th will be given a $0.7519 dividend. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.75. This represents a $3.01 annualized dividend and a yield of 5.15%. The ex-dividend date is Monday, April 8th. Toronto-Dominion Bank’s dividend payout ratio is presently 30.56%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Barclays assumed coverage on Toronto-Dominion Bank in a report on Wednesday, March 20th. They issued an “equal weight” rating for the company. Scotiabank upgraded Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, April 17th. Finally, Jefferies Financial Group assumed coverage on Toronto-Dominion Bank in a report on Thursday, February 22nd. They issued a “hold” rating for the company. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $89.33.

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.