TD Asset Management Inc. increased its stake in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 2.3% during the second quarter, Holdings Channel reports. The fund owned 52,854,789 shares of the bank’s stock after buying an additional 1,177,451 shares during the period. Toronto Dominion Bank (The) comprises about 4.2% of TD Asset Management Inc.’s portfolio, making the stock its 2nd largest position. TD Asset Management Inc.’s holdings in Toronto Dominion Bank (The) were worth $2,659,630,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of TD. Meeder Asset Management Inc. boosted its stake in shares of Toronto Dominion Bank (The) by 25.5% in the first quarter. Meeder Asset Management Inc. now owns 2,187 shares of the bank’s stock valued at $110,000 after buying an additional 444 shares during the last quarter. Pinnacle Bank bought a new stake in shares of Toronto Dominion Bank (The) during the first quarter valued at $110,000. Cornerstone Advisors Inc. boosted its stake in shares of Toronto Dominion Bank (The) by 5.2% in the second quarter. Cornerstone Advisors Inc. now owns 2,319 shares of the bank’s stock valued at $117,000 after buying an additional 114 shares during the last quarter. Cribstone Capital Management LLC boosted its stake in shares of Toronto Dominion Bank (The) by 47.3% in the second quarter. Cribstone Capital Management LLC now owns 2,341 shares of the bank’s stock valued at $118,000 after buying an additional 752 shares during the last quarter. Finally, Baystate Wealth Management LLC bought a new stake in shares of Toronto Dominion Bank (The) during the second quarter valued at $121,000. 52.41% of the stock is currently owned by institutional investors.

Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) last released its earnings results on Thursday, May 25th. The bank reported $1.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.08. Toronto Dominion Bank (The) had a net margin of 22.56% and a return on equity of 14.09%. The business had revenue of $8.47 billion for the quarter, compared to analyst estimates of $8.72 billion. During the same period last year, the company posted $1.20 EPS. The business’s revenue was up 2.6% on a year-over-year basis.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 31st. Shareholders of record on Monday, July 10th were paid a $0.444 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend was Thursday, July 6th. Toronto Dominion Bank (The)’s dividend payout ratio (DPR) is 48.18%.

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Several equities research analysts have weighed in on the company. BidaskClub cut Toronto Dominion Bank (The) from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Zacks Investment Research cut Toronto Dominion Bank (The) from a “buy” rating to a “hold” rating in a research note on Thursday, July 27th. Canaccord Genuity assumed coverage on Toronto Dominion Bank (The) in a research note on Tuesday, July 18th. They set a “buy” rating on the stock. National Bank Financial reissued a “sector perform overweight” rating on shares of Toronto Dominion Bank (The) in a research note on Thursday, May 18th. Finally, Barclays PLC raised Toronto Dominion Bank (The) from an “underweight” rating to an “equal weight” rating in a research note on Tuesday, May 23rd. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $61.71.

Toronto Dominion Bank (The) Company 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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