Nexus Investment Management ULC Grows Position in The Toronto-Dominion Bank (NYSE:TD)

Nexus Investment Management ULC increased its position in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 5.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 840,410 shares of the bank’s stock after purchasing an additional 45,560 shares during the quarter. Toronto-Dominion Bank makes up 4.9% of Nexus Investment Management ULC’s portfolio, making the stock its 3rd largest holding. Nexus Investment Management ULC’s holdings in Toronto-Dominion Bank were worth $50,758,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of TD. Dimensional Fund Advisors LP grew its stake in shares of Toronto-Dominion Bank by 6.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,044,900 shares of the bank’s stock valued at $132,141,000 after purchasing an additional 130,801 shares during the period. Cooper Financial Group grew its position in Toronto-Dominion Bank by 2.4% in the fourth quarter. Cooper Financial Group now owns 8,120 shares of the bank’s stock valued at $525,000 after acquiring an additional 188 shares during the period. V Square Quantitative Management LLC raised its stake in Toronto-Dominion Bank by 5,032.5% during the fourth quarter. V Square Quantitative Management LLC now owns 15,808 shares of the bank’s stock worth $1,022,000 after acquiring an additional 15,500 shares in the last quarter. Cape Cod Five Cents Savings Bank lifted its holdings in shares of Toronto-Dominion Bank by 100.0% during the third quarter. Cape Cod Five Cents Savings Bank now owns 16,780 shares of the bank’s stock valued at $1,011,000 after acquiring an additional 8,390 shares during the period. Finally, CWM LLC boosted its stake in shares of Toronto-Dominion Bank by 15.2% in the 4th quarter. CWM LLC now owns 6,528 shares of the bank’s stock valued at $422,000 after purchasing an additional 863 shares in the last quarter. Institutional investors and hedge funds own 52.37% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on TD. National Bank Financial downgraded shares of Toronto-Dominion Bank from a “sector perform” rating to an “underperform” rating in a report on Thursday, May 23rd. BMO Capital Markets reduced their target price on Toronto-Dominion Bank from $86.00 to $84.00 and set a “market perform” rating on the stock in a report on Friday, May 24th. Cibc World Mkts raised Toronto-Dominion Bank from a “hold” rating to a “strong-buy” rating in a report on Friday, May 24th. Scotiabank raised Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, April 17th. Finally, Barclays started coverage on Toronto-Dominion Bank in a report on Wednesday, March 20th. They set an “equal weight” rating on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Toronto-Dominion Bank currently has a consensus rating of “Hold” and a consensus target price of $88.00.

Toronto-Dominion Bank Trading Up 0.0 %

TD traded up $0.01 during mid-day trading on Friday, reaching $54.03. The stock had a trading volume of 3,800,726 shares, compared to its average volume of 2,908,097. The firm’s fifty day simple moving average is $56.29 and its two-hundred day simple moving average is $59.15. The stock has a market capitalization of $94.41 billion, a P/E ratio of 12.28, a P/E/G ratio of 1.49 and a beta of 0.83. The Toronto-Dominion Bank has a 52 week low of $53.52 and a 52 week high of $66.15. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.01 and a current ratio of 1.01.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings results on Thursday, May 23rd. The bank reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.15. The business had revenue of $10.18 billion for the quarter, compared to analysts’ expectations of $9.90 billion. Toronto-Dominion Bank had a return on equity of 14.38% and a net margin of 9.96%. On average, equities analysts predict that The Toronto-Dominion Bank will post 5.86 EPS for the current year.

Toronto-Dominion Bank Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th will be given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 5.48%. The ex-dividend date of this dividend is Wednesday, July 10th. Toronto-Dominion Bank’s dividend payout ratio is 68.64%.

Toronto-Dominion Bank Company Profile

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.