Dickmeyer Boyce Financial Management Inc. Takes $1.03 Million Position in Toronto Dominion Bank (The) $TD

Dickmeyer Boyce Financial Management Inc. bought a new position in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 11,085 shares of the bank’s stock, valued at approximately $1,034,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank bought a new stake in Toronto Dominion Bank in the fourth quarter worth $2,125,963,000. Auto Owners Insurance Co raised its holdings in Toronto Dominion Bank by 9,320.0% during the fourth quarter. Auto Owners Insurance Co now owns 3,965,443 shares of the bank’s stock valued at $396,544,000 after buying an additional 3,923,347 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Toronto Dominion Bank by 41.6% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,899,945 shares of the bank’s stock worth $1,121,660,000 after buying an additional 3,496,645 shares during the last quarter. Alberta Investment Management Corp acquired a new stake in shares of Toronto Dominion Bank in the fourth quarter worth about $299,850,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Toronto Dominion Bank by 25.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,210,762 shares of the bank’s stock worth $1,432,854,000 after acquiring an additional 3,129,457 shares in the last quarter. Institutional investors own 52.37% of the company’s stock.

Toronto Dominion Bank Stock Performance

NYSE TD opened at $119.15 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $195.98 billion, a price-to-earnings ratio of 18.59, a P/E/G ratio of 1.35 and a beta of 0.71. The company’s fifty day moving average is $117.04 and its two-hundred day moving average is $104.60. Toronto Dominion Bank has a 52-week low of $72.21 and a 52-week high of $124.87.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings data on Thursday, May 28th. The bank reported $1.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.11. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. The company had revenue of $11.80 billion for the quarter, compared to the consensus estimate of $11.04 billion. During the same quarter in the previous year, the firm posted $1.97 EPS. The business’s revenue was down 31.1% compared to the same quarter last year. Equities research analysts forecast that Toronto Dominion Bank will post 6.86 EPS for the current year.

Toronto Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 10th will be issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, July 10th. This is a boost from Toronto Dominion Bank’s previous quarterly dividend of $1.08. Toronto Dominion Bank’s payout ratio is 49.14%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Zacks Research lowered Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Wall Street Zen cut Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Scotiabank upgraded Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Monday, May 4th. Raymond James Financial raised shares of Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 12th. Finally, Royal Bank Of Canada boosted their price objective on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.00.

Toronto Dominion Bank Company Profile

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.