Varma Mutual Pension Insurance Co Increases Stock Holdings in Toronto Dominion Bank (The) $TD

Varma Mutual Pension Insurance Co boosted its stake in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 8.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 294,798 shares of the bank’s stock after acquiring an additional 23,600 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Toronto Dominion Bank were worth $23,577,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in Toronto Dominion Bank during the 2nd quarter worth approximately $1,543,639,000. Picton Mahoney Asset Management purchased a new stake in shares of Toronto Dominion Bank in the second quarter valued at approximately $267,475,000. Vanguard Group Inc. increased its stake in shares of Toronto Dominion Bank by 3.4% in the 2nd quarter. Vanguard Group Inc. now owns 77,187,442 shares of the bank’s stock worth $5,677,291,000 after acquiring an additional 2,552,603 shares during the last quarter. Public Sector Pension Investment Board raised its stake in Toronto Dominion Bank by 1,477.7% during the second quarter. Public Sector Pension Investment Board now owns 2,666,729 shares of the bank’s stock worth $195,749,000 after purchasing an additional 2,497,700 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Toronto Dominion Bank by 20.1% during the 2nd quarter. Geode Capital Management LLC now owns 14,147,217 shares of the bank’s stock valued at $1,053,292,000 after buying an additional 2,366,324 shares during the period. 52.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TD has been the topic of a number of recent analyst reports. 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. National Bank Financial upgraded shares of Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a report on Thursday, December 18th. Wall Street Zen downgraded shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. Raymond James Financial raised shares of Toronto Dominion Bank to a “hold” rating in a research report on Monday, November 24th. Finally, Natl Bk Canada upgraded shares of Toronto Dominion Bank from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $93.00.

Toronto Dominion Bank Stock Down 1.3%

Shares of Toronto Dominion Bank stock opened at $97.33 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.09. Toronto Dominion Bank has a 52-week low of $54.87 and a 52-week high of $99.04. The company has a market capitalization of $163.36 billion, a P/E ratio of 11.55, a P/E/G ratio of 1.35 and a beta of 0.67. The company has a 50 day moving average of $93.72 and a 200 day moving average of $83.70.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings data on Thursday, December 4th. The bank reported $1.56 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $10.10 billion. During the same period in the prior year, the firm posted $1.72 EPS. The company’s quarterly revenue was down .1% compared to the same quarter last year. As a group, research analysts forecast that Toronto Dominion Bank will post 5.48 EPS for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Saturday, January 31st. Shareholders of record on Friday, January 9th were paid a $1.08 dividend. This is a boost from Toronto Dominion Bank’s previous quarterly dividend of $1.05. This represents a $4.32 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date was Friday, January 9th. Toronto Dominion Bank’s payout ratio is 37.25%.

About Toronto Dominion Bank

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.