Sprucegrove Investment Management Ltd. Has $65.64 Million Stock Holdings in The Toronto-Dominion Bank (NYSE:TD)

Sprucegrove Investment Management Ltd. boosted its holdings in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 78.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,015,700 shares of the bank’s stock after purchasing an additional 446,000 shares during the quarter. Toronto-Dominion Bank comprises approximately 2.8% of Sprucegrove Investment Management Ltd.’s investment portfolio, making the stock its 7th largest holding. Sprucegrove Investment Management Ltd. owned about 0.06% of Toronto-Dominion Bank worth $65,635,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Raymond James Trust N.A. grew its position in Toronto-Dominion Bank by 1.7% in the 1st quarter. Raymond James Trust N.A. now owns 9,868 shares of the bank’s stock valued at $784,000 after purchasing an additional 161 shares during the period. Western Wealth Management LLC boosted its holdings in Toronto-Dominion Bank by 2.2% during the 2nd quarter. Western Wealth Management LLC now owns 7,436 shares of the bank’s stock worth $461,000 after acquiring an additional 162 shares during the last quarter. Daymark Wealth Partners LLC boosted its holdings in Toronto-Dominion Bank by 4.1% during the 3rd quarter. Daymark Wealth Partners LLC now owns 4,314 shares of the bank’s stock worth $260,000 after acquiring an additional 170 shares during the last quarter. Private Trust Co. NA boosted its holdings in Toronto-Dominion Bank by 10.6% during the 4th quarter. Private Trust Co. NA now owns 1,808 shares of the bank’s stock worth $117,000 after acquiring an additional 174 shares during the last quarter. Finally, Stratos Wealth Partners LTD. boosted its holdings in Toronto-Dominion Bank by 0.9% during the 4th quarter. Stratos Wealth Partners LTD. now owns 20,126 shares of the bank’s stock worth $1,301,000 after acquiring an additional 174 shares during the last quarter. Institutional investors and hedge funds own 52.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on TD. Bank of America downgraded shares of Toronto-Dominion Bank from a “buy” rating to a “neutral” rating in a report on Monday, December 18th. Jefferies Financial Group began coverage on shares of Toronto-Dominion Bank in a report on Thursday, February 22nd. They set a “hold” rating on the stock. Barclays began coverage on shares of Toronto-Dominion Bank in a report on Wednesday, March 20th. They issued an “equal weight” rating on the stock. Finally, Scotiabank downgraded shares of Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a report on Wednesday, December 20th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $89.33.

Toronto-Dominion Bank Stock Performance

Shares of NYSE:TD traded down $0.95 during midday trading on Friday, reaching $56.83. The company had a trading volume of 2,637,644 shares, compared to its average volume of 3,016,445. The company’s 50 day moving average price is $59.60 and its 200 day moving average price is $60.15. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.09. The stock has a market cap of $100.20 billion, a P/E ratio of 12.14, a P/E/G ratio of 1.78 and a beta of 0.86. The Toronto-Dominion Bank has a 52-week low of $54.69 and a 52-week high of $66.15.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings data on Thursday, February 29th. The bank reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.05. Toronto-Dominion Bank had a return on equity of 14.15% and a net margin of 11.16%. The business had revenue of $10.07 billion for the quarter, compared to analysts’ expectations of $9.35 billion. As a group, sell-side analysts anticipate that The Toronto-Dominion Bank will post 5.85 EPS for the current fiscal year.

Toronto-Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Tuesday, April 9th will be paid a $0.7519 dividend. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $0.75. This represents a $3.01 dividend on an annualized basis and a yield of 5.29%. The ex-dividend date of this dividend is Monday, April 8th. Toronto-Dominion Bank’s payout ratio is currently 30.56%.

About Toronto-Dominion Bank

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.