Toronto Dominion Bank (The) (TD) Stake Increased by FineMark National Bank & Trust

FineMark National Bank & Trust lifted its stake in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 23.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,224 shares of the bank’s stock after buying an additional 2,535 shares during the quarter. FineMark National Bank & Trust’s holdings in Toronto Dominion Bank (The) were worth $744,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of TD. Public Sector Pension investment Board grew its position in Toronto Dominion Bank (The) by 1,745.0% in the 2nd quarter. Public Sector Pension investment Board now owns 3,658,692 shares of the bank’s stock valued at $184,104,000 after purchasing an additional 3,881,100 shares during the period. Canada Pension Plan Investment Board grew its position in Toronto Dominion Bank (The) by 3,364.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 2,899,388 shares of the bank’s stock valued at $145,896,000 after purchasing an additional 2,815,688 shares during the period. Arrowstreet Capital Limited Partnership grew its position in Toronto Dominion Bank (The) by 44.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,535,700 shares of the bank’s stock valued at $329,248,000 after purchasing an additional 2,022,507 shares during the period. Vanguard Group Inc. grew its position in Toronto Dominion Bank (The) by 5.1% in the 2nd quarter. Vanguard Group Inc. now owns 41,532,070 shares of the bank’s stock valued at $2,092,385,000 after purchasing an additional 2,014,823 shares during the period. Finally, Capital International Investors grew its position in Toronto Dominion Bank (The) by 45.9% in the 2nd quarter. Capital International Investors now owns 5,258,400 shares of the bank’s stock valued at $264,918,000 after purchasing an additional 1,654,000 shares during the period. 47.74% of the stock is owned by institutional investors and hedge funds.

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) last announced its earnings results on Thursday, August 31st. The bank reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.06. The business had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.05 billion. Toronto Dominion Bank (The) had a return on equity of 14.71% and a net margin of 22.85%. The business’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period last year, the firm posted $1.27 earnings per share.

Toronto Dominion Bank (The) declared that its Board of Directors has initiated a stock repurchase program on Thursday, August 31st that permits the company to repurchase 20,000,000 outstanding shares. This repurchase authorization permits the bank to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th were given a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 3.31%. This is a boost from Toronto Dominion Bank (The)’s previous quarterly dividend of $0.44. The ex-dividend date was Thursday, October 5th. Toronto Dominion Bank (The)’s dividend payout ratio (DPR) is presently 46.62%.

A number of equities analysts have issued reports on TD shares. Macquarie started coverage on shares of Toronto Dominion Bank (The) in a report on Tuesday, October 24th. They set an “outperform” rating on the stock. National Bank Financial raised shares of Toronto Dominion Bank (The) from a “sector perform” rating to an “outperform” rating in a report on Friday, September 1st. Canaccord Genuity started coverage on shares of Toronto Dominion Bank (The) in a report on Tuesday, July 18th. They set a “buy” rating on the stock. BidaskClub raised shares of Toronto Dominion Bank (The) from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Finally, Zacks Investment Research cut Toronto Dominion Bank (The) from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $66.33.

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Toronto Dominion Bank (The) Profile

Toronto-Dominion Bank (the Bank) is a Canada-based bank, which operates in the North America. It is an online financial services firm, with over 10.2 million online and mobile customers. Its segments include Canadian Retail, U.S. Retail, Wholesale Banking and Corporate. The Canadian Retail segment provides a range of financial products and services to customers in the Canadian personal and commercial banking businesses.

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

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