Scotia Capital Inc. Increases Stock Holdings in Toronto-Dominion Bank (NYSE:TD)
Scotia Capital Inc. increased its stake in Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 1.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,320,873 shares of the bank’s stock after buying an additional 79,875 shares during the quarter. Toronto-Dominion Bank makes up 5.9% of Scotia Capital Inc.’s holdings, making the stock its 3rd biggest position. Scotia Capital Inc. owned about 0.45% of Toronto-Dominion Bank worth $485,329,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in TD. Cornerstone Advisors Inc. raised its stake in Toronto-Dominion Bank by 9.5% in the 1st quarter. Cornerstone Advisors Inc. now owns 3,553 shares of the bank’s stock valued at $193,000 after acquiring an additional 309 shares during the period. Cetera Advisors LLC increased its position in Toronto-Dominion Bank by 14.1% during the first quarter. Cetera Advisors LLC now owns 5,550 shares of the bank’s stock worth $298,000 after acquiring an additional 684 shares during the period. Cidel Asset Management Inc. raised its stake in Toronto-Dominion Bank by 1.0% in the 1st quarter. Cidel Asset Management Inc. now owns 2,554,276 shares of the bank’s stock worth $138,655,000 after purchasing an additional 26,223 shares in the last quarter. CIBC Asset Management Inc raised its stake in Toronto-Dominion Bank by 13.3% in the 1st quarter. CIBC Asset Management Inc now owns 21,510,636 shares of the bank’s stock worth $1,167,313,000 after purchasing an additional 2,517,475 shares in the last quarter. Finally, Raymond James & Associates raised its stake in Toronto-Dominion Bank by 2.6% in the 1st quarter. Raymond James & Associates now owns 239,019 shares of the bank’s stock worth $12,984,000 after purchasing an additional 6,133 shares in the last quarter. 50.31% of the stock is owned by institutional investors and hedge funds.
Shares of TD stock traded up $0.08 on Wednesday, hitting $56.33. 2,264,196 shares of the company’s stock were exchanged, compared to its average volume of 1,192,278. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.01 and a quick ratio of 1.01. Toronto-Dominion Bank has a 12 month low of $47.73 and a 12 month high of $62.00. The stock has a market cap of $101.16 billion, a P/E ratio of 11.20, a price-to-earnings-growth ratio of 2.14 and a beta of 1.07. The company has a 50 day moving average of $55.76 and a 200 day moving average of $56.42.
The company also recently declared a — dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be paid a $0.556 dividend. This represents a dividend yield of 4.1%. The ex-dividend date of this dividend is Wednesday, October 9th. Toronto-Dominion Bank’s payout ratio is 44.93%.
TD has been the topic of a number of analyst reports. BMO Capital Markets lowered shares of Toronto-Dominion Bank from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $85.00 to $78.00 in a research report on Friday, August 30th. Bank of America cut Toronto-Dominion Bank from a “buy” rating to a “neutral” rating and cut their price target for the company from $82.00 to $77.00 in a research note on Thursday, August 15th. CIBC set a $83.00 price target on Toronto-Dominion Bank and gave the stock a “buy” rating in a research report on Friday, August 30th. Royal Bank of Canada set a $82.00 price objective on Toronto-Dominion Bank and gave the stock a “hold” rating in a research note on Friday, August 30th. Finally, National Bank Financial set a $84.00 price objective on Toronto-Dominion Bank and gave the company a “buy” rating in a report on Friday, August 30th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $78.56.
About Toronto-Dominion Bank
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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