Ninepoint Partners LP Grows Stock Holdings in The Toronto-Dominion Bank (NYSE:TD)

Ninepoint Partners LP grew its holdings in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 3.8% during the fourth quarter, HoldingsChannel reports. The firm owned 10,557 shares of the bank’s stock after purchasing an additional 390 shares during the quarter. Ninepoint Partners LP’s holdings in Toronto-Dominion Bank were worth $682,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in TD. Fairfield Bush & CO. purchased a new position in shares of Toronto-Dominion Bank in the 1st quarter worth $26,000. Fortis Capital Advisors LLC acquired a new position in shares of Toronto-Dominion Bank in the 4th quarter valued at about $26,000. PCA Investment Advisory Services Inc. purchased a new stake in shares of Toronto-Dominion Bank during the 2nd quarter worth about $26,000. Bray Capital Advisors increased its position in Toronto-Dominion Bank by 206.7% during the 3rd quarter. Bray Capital Advisors now owns 460 shares of the bank’s stock worth $28,000 after purchasing an additional 310 shares in the last quarter. Finally, Financial Management Professionals Inc. acquired a new position in Toronto-Dominion Bank during the third quarter valued at approximately $31,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Barclays initiated coverage on Toronto-Dominion Bank in a report on Wednesday, March 20th. They issued an “equal weight” rating for the company. Jefferies Financial Group started coverage on Toronto-Dominion Bank in a research note on Thursday, February 22nd. They set a “hold” rating for the company. Finally, Scotiabank upgraded Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $89.33.

Toronto-Dominion Bank Stock Performance

Shares of TD traded up $0.74 during mid-day trading on Friday, hitting $57.99. The stock had a trading volume of 1,061,040 shares, compared to its average volume of 2,911,709. The Toronto-Dominion Bank has a fifty-two week low of $54.69 and a fifty-two week high of $66.15. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.09. The company has a market cap of $102.25 billion, a PE ratio of 12.34, a PEG ratio of 1.75 and a beta of 0.86. The company’s fifty day simple moving average is $59.39 and its two-hundred day simple moving average is $60.05.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings data on Thursday, February 29th. The bank reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.05. Toronto-Dominion Bank had a net margin of 11.16% and a return on equity of 14.15%. The firm had revenue of $10.07 billion during the quarter, compared to the consensus estimate of $9.35 billion. On average, equities analysts expect that The Toronto-Dominion Bank will post 5.85 earnings per share for the current year.

Toronto-Dominion Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 9th will be issued a $0.7519 dividend. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $0.75. The ex-dividend date is Monday, April 8th. This represents a $3.01 annualized dividend and a dividend yield of 5.19%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is 30.56%.

Toronto-Dominion Bank 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.