Wright Investors Service Inc. Increases Holdings in Toronto-Dominion Bank (NYSE:TD)

Wright Investors Service Inc. lifted its position in Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 5.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,990 shares of the bank’s stock after purchasing an additional 1,051 shares during the quarter. Wright Investors Service Inc.’s holdings in Toronto-Dominion Bank were worth $1,167,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Citizens Financial Group Inc RI purchased a new position in Toronto-Dominion Bank during the first quarter valued at approximately $28,000. Financial Gravity Wealth Inc. purchased a new position in Toronto-Dominion Bank during the first quarter valued at approximately $29,000. Farmers National Bank purchased a new position in Toronto-Dominion Bank during the first quarter valued at approximately $33,000. Manchester Capital Management LLC purchased a new position in Toronto-Dominion Bank during the first quarter valued at approximately $37,000. Finally, Cullen Frost Bankers Inc. purchased a new position in Toronto-Dominion Bank during the first quarter valued at approximately $46,000. Hedge funds and other institutional investors own 48.12% of the company’s stock.

TD traded down $0.62 during trading on Thursday, hitting $53.98. The company’s stock had a trading volume of 109,917 shares, compared to its average volume of 1,037,699. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.11. Toronto-Dominion Bank has a twelve month low of $47.73 and a twelve month high of $62.00. The business’s fifty day moving average price is $58.07. The company has a market cap of $99.21 billion, a price-to-earnings ratio of 10.74, a price-to-earnings-growth ratio of 1.77 and a beta of 1.04.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings data on Thursday, May 23rd. The bank reported $1.75 EPS for the quarter, beating the consensus estimate of $1.25 by $0.50. Toronto-Dominion Bank had a return on equity of 16.21% and a net margin of 20.24%. The company had revenue of $10.23 billion for the quarter, compared to analyst estimates of $9.46 billion. During the same period last year, the company earned $1.62 earnings per share. Toronto-Dominion Bank’s quarterly revenue was up 8.0% compared to the same quarter last year. Equities research analysts forecast that Toronto-Dominion Bank will post 5.08 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 10th were issued a $0.5511 dividend. This represents a $2.20 annualized dividend and a yield of 4.08%. The ex-dividend date of this dividend was Tuesday, July 9th. Toronto-Dominion Bank’s payout ratio is currently 44.93%.

Several research analysts recently weighed in on the company. National Bank Financial cut Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research report on Thursday, May 23rd. BMO Capital Markets reiterated a “buy” rating on shares of Toronto-Dominion Bank in a research report on Friday, May 24th. Canaccord Genuity reiterated a “buy” rating on shares of Toronto-Dominion Bank in a research report on Thursday, May 23rd. Zacks Investment Research upgraded Toronto-Dominion Bank from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research report on Friday, August 9th. Finally, Barclays upgraded Toronto-Dominion Bank from an “equal weight” rating to an “overweight” rating and set a $84.00 price target for the company in a research report on Tuesday, June 11th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $74.67.

Toronto-Dominion Bank Profile

The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. The company operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. It offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; financing options to customers at point of sale for automotive and recreational vehicle purchases through auto dealer network; credit cards; investing, advice-based, and asset management services to retail and institutional clients; and property and casualty insurance, as well as life and health insurance products.

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

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