Baskin Financial Services Inc. boosted its stake in Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 1.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 290,827 shares of the bank’s stock after purchasing an additional 4,254 shares during the quarter. Toronto-Dominion Bank comprises 3.2% of Baskin Financial Services Inc.’s investment portfolio, making the stock its 12th biggest position. Baskin Financial Services Inc.’s holdings in Toronto-Dominion Bank were worth $17,658,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently bought and sold shares of the stock. First Manhattan Co. grew its position in Toronto-Dominion Bank by 106.9% in the third quarter. First Manhattan Co. now owns 1,970 shares of the bank’s stock valued at $119,000 after acquiring an additional 1,018 shares during the last quarter. Huntington National Bank grew its position in Toronto-Dominion Bank by 216.9% in the third quarter. Huntington National Bank now owns 2,114 shares of the bank’s stock valued at $129,000 after acquiring an additional 1,447 shares during the last quarter. Quad Cities Investment Group LLC bought a new position in Toronto-Dominion Bank in the second quarter valued at about $139,000. Private Capital Group LLC grew its position in Toronto-Dominion Bank by 662.9% in the first quarter. Private Capital Group LLC now owns 2,388 shares of the bank’s stock valued at $136,000 after acquiring an additional 2,075 shares during the last quarter. Finally, Destination Wealth Management bought a new position in Toronto-Dominion Bank in the second quarter valued at about $139,000. 47.56% of the stock is owned by institutional investors and hedge funds.
Several analysts have recently weighed in on TD shares. Zacks Investment Research cut Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Wednesday, August 15th. TheStreet upgraded Toronto-Dominion Bank from a “c+” rating to a “b” rating in a report on Tuesday, September 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $79.00.
Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings results on Thursday, August 30th. The bank reported $1.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.43. Toronto-Dominion Bank had a return on equity of 16.63% and a net margin of 21.82%. The firm had revenue of $7.58 billion for the quarter, compared to analyst estimates of $7.23 billion. During the same period in the previous year, the firm earned $1.51 earnings per share. Research analysts predict that Toronto-Dominion Bank will post 4.95 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Wednesday, October 10th will be given a dividend of $0.5144 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 3.62%. The ex-dividend date of this dividend is Tuesday, October 9th. Toronto-Dominion Bank’s payout ratio is 49.06%.
Toronto-Dominion Bank Company Profile
The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. It operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The company offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to small, medium, and large 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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