BMO Asset Management, Inc. recently announced the acquisition of new stake in Toronto Dominion Bank (NYSE:TD). The institutional investor has increased its shareholding in the Financial company by 8.43% to 57.58 million shares with purchase of 4.48 million shares. This fresh investment now brings its stake to 3.15% valued currently at $3.51 billion. In addition, BMO Asset Management Corp. raised its holdings by 5.09 million to 50.14 million shares. And The Vanguard Group, Inc. has lifted its position by 1.46% or 0.69 million shares – to 47.82 million shares.
With over 8.24 million Toronto Dominion Bank (TD) shares trading Friday and a closing price of $64.42 on the day, the dollar volume was approximately $530.78 million. The shares have shown a positive half year performance of 5.80% and its price on 01/05/24 gained nearly 0.50%. Currently, there are 1.79B common shares owned by the public and among those 1.79B shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for TD have a consensus price objective of $87.91. The analysts have set the share’s price value over the next 12 months at a high of $96.00 and a low of $77.00. The average price target is -4.87% below its recent price level and an upside to the estimated low will see the stock gain 16.34% over that period. But an upside of 32.9% will see the stock hit the forecast high price target while median target price for the stock is $88.00.
The top 3 mutual fund holders in Toronto Dominion Bank are Vanguard Total International Stoc, Government Pension Fund – Global, and RBC Canadian Dividend Fund. Vanguard Total International Stoc owns 24.67 million shares of the company’s stock, all valued at over $1.5 billion. The company bought an additional 0.18 million shares recently to bring their total holdings to about 1.35% of the shares outstanding. Government Pension Fund – Global bought 0.73 million shares to see its total holdings expand to 22.47 million shares valued at over $1.37 billion and representing 1.23% of the shares outstanding. RBC Canadian Dividend Fund bought 0.19 million shares to bring its total holdings to over 14.98 million shares at a value of $913.52 million. RBC Canadian Dividend Fund now owns shares totaling to 0.82% of the shares outstanding.
However, the script later moved the day high at 64.86, up 0.50%. The company’s stock has a 5-day price change of -0.03% and 11.18% over the past three months. TD shares are trading -0.31% year to date (YTD), with the 12-month market performance down to -2.19% lower. It has a 12-month low price of $54.69 and touched a high of $70.67 over the same period. TD has an average intraday trading volume of 2.98 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.89%, 6.25%, and 6.05% respectively.
Institutional ownership of Toronto Dominion Bank (NYSE: TD) shares accounts for 56.86% of the company’s 1.79B shares outstanding. Mutual fund holders own 26.54%, while other institutional holders and individual stakeholders account for 30.09% and — respectively.
It has a market capitalization of $115.40B and a beta (3y monthly) value of 0.85. The stock’s trailing 12-month PE ratio is 15.52, while the earnings-per-share (ttm) stands at $4.15. The company has a PEG of 8.62 and the debt-to-equity ratio at 2.01. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.26% over the week and 1.56% over the month.
Analysts forecast that Toronto Dominion Bank (TD) will achieve an EPS of $1.45 for the current quarter, $1.39 for the next quarter and $6.33 for 2025. The lowest estimate earnings-per-share for the quarter is $1.28 while analysts give the company a high EPS estimate of $1.56. Comparatively, EPS for the current quarter was $1.63 a year ago. Earnings per share for the fiscal year are expected to decrease by -0.98%, and 8.14% over the next financial year. EPS should grow at an annualized rate of 1.80% over the next five years, compared to -2.32% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Toronto Dominion Bank (TD) as a “Hold” at a consensus score of 3.25. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 3 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
