Drive Wealth Management LLC Increases Holdings in The Toronto-Dominion Bank (NYSE:TD)

Drive Wealth Management LLC grew its holdings in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 13.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 5,959 shares of the bank’s stock after buying an additional 714 shares during the quarter. Drive Wealth Management LLC’s holdings in Toronto-Dominion Bank were worth $377,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in TD. Natixis Advisors LLC lifted its position in shares of Toronto-Dominion Bank by 65.4% in the 3rd quarter. Natixis Advisors LLC now owns 67,104 shares of the bank’s stock worth $4,245,000 after purchasing an additional 26,522 shares during the period. CIBC Asset Management Inc raised its stake in Toronto-Dominion Bank by 5.4% in the third quarter. CIBC Asset Management Inc now owns 16,515,643 shares of the bank’s stock worth $1,046,825,000 after buying an additional 853,313 shares in the last quarter. Nicola Wealth Management LTD. lifted its holdings in Toronto-Dominion Bank by 29.1% in the third quarter. Nicola Wealth Management LTD. now owns 441,602 shares of the bank’s stock worth $27,936,000 after buying an additional 99,600 shares during the period. Plato Investment Management Ltd bought a new stake in Toronto-Dominion Bank during the 3rd quarter valued at approximately $261,000. Finally, Oppenheimer & Co. Inc. grew its holdings in shares of Toronto-Dominion Bank by 5.1% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 10,012 shares of the bank’s stock worth $633,000 after acquiring an additional 485 shares during the period. 52.37% of the stock is currently owned by institutional investors.

Toronto-Dominion Bank Trading Up 0.6 %

NYSE TD opened at $56.27 on Tuesday. The Toronto-Dominion Bank has a 12 month low of $53.52 and a 12 month high of $65.12. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10. The stock’s fifty day moving average price is $59.36 and its 200-day moving average price is $57.72. The stock has a market cap of $98.49 billion, a P/E ratio of 17.98, a P/E/G ratio of 1.59 and a beta of 0.82.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.56. Toronto-Dominion Bank had a net margin of 6.94% and a return on equity of 14.34%. The business had revenue of $14.18 billion during the quarter, compared to analysts’ expectations of $9.40 billion. During the same period in the previous year, the company earned $1.48 earnings per share. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, equities analysts forecast that The Toronto-Dominion Bank will post 5.8 EPS for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were issued a $0.739 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 5.25%. The ex-dividend date of this dividend was Thursday, October 10th. Toronto-Dominion Bank’s payout ratio is 96.49%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TD. Royal Bank of Canada cut Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research note on Friday, October 11th. National Bank Financial raised Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research report on Thursday, August 22nd. Finally, StockNews.com downgraded shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $84.00.

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.