Lake Street Financial LLC Takes Position in Toronto-Dominion Bank (NYSE:TD)

Lake Street Financial LLC purchased a new position in shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 25,398 shares of the bank’s stock, valued at approximately $1,380,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Randolph Co Inc acquired a new stake in Toronto-Dominion Bank during the 1st quarter worth approximately $8,895,000. Ferguson Wellman Capital Management Inc. grew its position in Toronto-Dominion Bank by 5.9% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 135,619 shares of the bank’s stock worth $7,368,000 after acquiring an additional 7,592 shares during the last quarter. Graves Light Private Wealth Management Inc. bought a new stake in Toronto-Dominion Bank during the 1st quarter worth $217,000. Legacy Capital Partners Inc. bought a new stake in Toronto-Dominion Bank during the 1st quarter worth $212,000. Finally, Polaris Greystone Financial Group LLC bought a new stake in shares of Toronto-Dominion Bank in the 1st quarter valued at about $3,106,000. 48.83% of the stock is currently owned by institutional investors.

Toronto-Dominion Bank stock opened at $56.97 on Friday. Toronto-Dominion Bank has a one year low of $47.73 and a one year high of $62.00. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market capitalization of $103.38 billion, a PE ratio of 11.33, a P/E/G ratio of 1.58 and a beta of 1.06.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings data on Thursday, February 28th. The bank reported $1.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.31 by ($0.13). Toronto-Dominion Bank had a return on equity of 16.36% and a net margin of 20.48%. The business had revenue of $7.51 billion during the quarter, compared to analysts’ expectations of $7.35 billion. Analysts anticipate that Toronto-Dominion Bank will post 5.18 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Wednesday, April 10th were given a dividend of $0.564 per share. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $0.51. The ex-dividend date was Tuesday, April 9th. This represents a $2.26 dividend on an annualized basis and a yield of 3.96%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 44.14%.

Several brokerages recently commented on TD. Zacks Investment Research lowered Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Wednesday, March 6th. BMO Capital Markets reaffirmed a “buy” rating on shares of Toronto-Dominion Bank in a research note on Thursday, February 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $60.00.

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Toronto-Dominion Bank Company Profile

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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Institutional Ownership by Quarter for Toronto-Dominion Bank (NYSE:TD)

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