Clark Capital Management Group Inc. Purchases 265,655 Shares of Toronto Dominion Bank (The) $TD

Clark Capital Management Group Inc. raised its position in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 30.6% in the third quarter, HoldingsChannel reports. The fund owned 1,133,531 shares of the bank’s stock after purchasing an additional 265,655 shares during the quarter. Clark Capital Management Group Inc.’s holdings in Toronto Dominion Bank were worth $90,626,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of TD. Canerector Inc. raised its position in shares of Toronto Dominion Bank by 11,028.0% during the third quarter. Canerector Inc. now owns 22,256,000 shares of the bank’s stock worth $1,779,367,000 after purchasing an additional 22,056,000 shares during the period. Norges Bank acquired a new stake in Toronto Dominion Bank in the 2nd quarter valued at $1,543,639,000. Picton Mahoney Asset Management bought a new stake in Toronto Dominion Bank during the 2nd quarter valued at $267,475,000. Vanguard Group Inc. raised its holdings in Toronto Dominion Bank by 3.4% during the second quarter. Vanguard Group Inc. now owns 77,187,442 shares of the bank’s stock worth $5,677,291,000 after buying an additional 2,552,603 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its holdings in Toronto Dominion Bank by 1,477.7% during the second quarter. Public Sector Pension Investment Board now owns 2,666,729 shares of the bank’s stock worth $195,749,000 after buying an additional 2,497,700 shares during the last quarter. Institutional investors own 52.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. National Bank Financial upgraded shares of Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a report on Thursday, December 18th. Raymond James Financial upgraded shares of Toronto Dominion Bank to a “hold” rating in a report on Monday, November 24th. Jefferies Financial Group downgraded Toronto Dominion Bank from a “buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Weiss Ratings reissued a “buy (b)” rating on shares of Toronto Dominion Bank in a report on Wednesday, January 21st. Finally, Wall Street Zen raised Toronto Dominion Bank from a “sell” rating to a “hold” rating in a research note on Monday, March 2nd. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Toronto Dominion Bank has a consensus rating of “Moderate Buy” and an average target price of $93.00.

Toronto Dominion Bank Stock Performance

NYSE TD opened at $93.22 on Friday. The company has a fifty day moving average price of $95.48 and a 200-day moving average price of $87.18. The firm has a market cap of $155.80 billion, a price-to-earnings ratio of 10.30, a PEG ratio of 1.06 and a beta of 0.66. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.05 and a quick ratio of 1.05. Toronto Dominion Bank has a 1 year low of $54.87 and a 1 year high of $99.84.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings results on Thursday, February 26th. The bank reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.13. Toronto Dominion Bank had a net margin of 17.52% and a return on equity of 14.29%. The company had revenue of $11.01 billion for the quarter, compared to analyst estimates of $10.43 billion. During the same period last year, the firm earned $2.02 earnings per share. The firm’s revenue was up 18.1% on a year-over-year basis. As a group, equities research analysts predict that Toronto Dominion Bank will post 5.48 EPS for the current fiscal year.

Toronto Dominion Bank Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 9th will be given a dividend of $1.08 per share. The ex-dividend date of this dividend is Thursday, April 9th. This represents a $4.32 annualized dividend and a dividend yield of 4.6%. Toronto Dominion Bank’s dividend payout ratio (DPR) is currently 34.81%.

About Toronto Dominion Bank

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.