QV Investors Inc. Buys Shares of 507,584 Toronto Dominion Bank (The) $TD

QV Investors Inc. purchased a new stake in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 507,584 shares of the bank’s stock, valued at approximately $40,595,000. Toronto Dominion Bank comprises approximately 3.5% of QV Investors Inc.’s investment portfolio, making the stock its 9th largest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Canada Pension Plan Investment Board raised its stake in shares of Toronto Dominion Bank by 18.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 12,470,618 shares of the bank’s stock valued at $917,832,000 after acquiring an additional 1,946,172 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Toronto Dominion Bank by 0.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,815,706 shares of the bank’s stock valued at $1,010,852,000 after purchasing an additional 115,203 shares during the last quarter. Triasima Portfolio Management inc. purchased a new stake in Toronto Dominion Bank in the second quarter valued at approximately $8,492,000. Picton Mahoney Asset Management purchased a new stake in Toronto Dominion Bank in the second quarter valued at approximately $267,475,000. Finally, Bank of New York Mellon Corp lifted its stake in Toronto Dominion Bank by 3.2% during the second quarter. Bank of New York Mellon Corp now owns 1,658,144 shares of the bank’s stock worth $121,791,000 after purchasing an additional 51,698 shares in the last quarter. 52.37% of the stock is owned by institutional investors and hedge funds.

Toronto Dominion Bank Price Performance

TD stock opened at $94.70 on Friday. The business’s 50-day moving average is $90.11 and its two-hundred day moving average is $81.56. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market capitalization of $158.94 billion, a P/E ratio of 11.23, a P/E/G ratio of 1.31 and a beta of 0.67. Toronto Dominion Bank has a 1 year low of $54.14 and a 1 year high of $96.44.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last released its earnings results on Thursday, December 4th. The bank reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.10. The firm had revenue of $11.44 billion for the quarter, compared to analyst estimates of $10.10 billion. Toronto Dominion Bank had a net margin of 16.52% and a return on equity of 13.90%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.72 earnings per share. Analysts anticipate that Toronto Dominion Bank will post 5.48 earnings per share for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, January 31st. Shareholders of record on Friday, January 9th will be given a $1.08 dividend. The ex-dividend date of this dividend is Friday, January 9th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.6%. This is a boost from Toronto Dominion Bank’s previous quarterly dividend of $1.05. Toronto Dominion Bank’s payout ratio is currently 37.37%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TD shares. Natl Bk Canada raised Toronto Dominion Bank from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 17th. Jefferies Financial Group downgraded Toronto Dominion Bank from a “buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Raymond James Financial upgraded shares of Toronto Dominion Bank to a “hold” rating in a research note on Monday, November 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Toronto Dominion Bank in a research note on Wednesday. Finally, Wall Street Zen downgraded shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research note on Saturday, January 10th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Toronto Dominion Bank presently has a consensus rating of “Moderate Buy” and a consensus target price of $93.00.

Toronto Dominion Bank Company Profile

Toronto-Dominion Bank (TD) is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. Formed through the 1955 merger of the Bank of Toronto (founded 1855) and the Dominion Bank (founded 1869), TD is one of Canada’s largest banks and offers a broad range of financial products and services to individual, small business, commercial and institutional clients.

TD’s core businesses include Canadian and U.S. personal and commercial banking, wealth management, wholesale banking and insurance.