Janney Montgomery Scott LLC, a reputable financial services firm, has upped its stake in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 4.4% in the fourth quarter. According to their latest Form 13F filing with the Securities & Exchange Commission, the company now owns 45,600 shares of TD bank stock after acquiring an additional 1,912 shares during the said period. As a result, Janney Montgomery Scott LLC’s holdings in Toronto-Dominion Bank were worth $2.953 million at the end of Q4.
The Toronto-Dominion Bank provides financial products and services through three main segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The Canadian Retail portion covers various financial products and services and offers telephone, internet, and mobile banking solutions to customers.
As for TD’s current standing in the market, shares of NYSE TD opened at $61.71 on Monday with a fifty-day simple moving average of $62.18 and a 200-day simple moving average of $64.26 respectively. Meanwhile, TD’s debt-to-equity ratio stands at an impressive 0.11 with a market capitalization of $112.93 billion. The company also boasts a price-to-earnings ratio of 9.75 while currently having a one year low of $55.43 but on the other hand possessing an impressive one year high of $77.15.
Investors looking to invest in banks might want to consider including TD as part of their portfolio given its strong financial performance these past few years with customer satisfaction ratings consistently high by industry standards particularly regarding online banking care with some surveys giving it nearly perfect scores for customer service without including rankings for commercial banks.
Janney Montgomery Scott LLC’s increased stake in The Toronto-Dominion Bank is indicative not just of how much they trust TD as an investment opportunity, but also of the bank’s overall strength in the market. With its impressive financial performance and high customer satisfaction ratings, TD is definitely a smart and viable option for those looking to invest in banks.
Toronto-Dominion Bank: Investor Attention and Confidence on the Rise
Toronto-Dominion Bank Continues to Attract Investor Attention
Toronto-Dominion Bank, commonly referred to as TD Bank, continues to attract investor attention. Several institutional investors have recently acquired or sold shares of the bank, indicating an increase in confidence in TD’s financial products and services.
Ameritas Advisory Services LLC increased its holdings in TD Bank by 11% during Q3 of 2020. Similarly, Pallas Capital Advisors LLC acquired a new position and Chevy Chase Trust Holdings LLC increased their holdings by 81.6%. Fundamentun LLC also acquired new shares in TD Bank during this time period.
Additionally, Toronto-Dominion Bank received ratings from several equities research analysts. StockNews.com issued a sell rating for the bank while Desjardins upped its target price on the bank from C$105.00 to C$106.00.
Despite mixed ratings, Bloomberg.com reports that there is a consensus that Toronto-Dominion Bank has an average rating of “Moderate Buy” and a consensus target price of $100.57.
TD Bank operates through three segments: Canadian Retail, U.S. Retail and Wholesale Banking. The Canadian Retail segment provides financial products and services along with telephone, internet and mobile banking services.
TD recently released its quarterly earnings data on Thursday March 2nd, reporting $1.64 earnings per share (EPS) for the quarter which beat analyst estimates by $0.03 per share. Furthermore, Toronto-Dominion Bank had a return on equity of 16.02% and a net margin of 18.23%. The firm also had revenue of $9.01 billion during the same period versus analyst estimates of $8.97 billion.
The results have encouraged longer-term investments with the bank announcing an increase in quarterly dividends from $0.71 per share to $0.721 per share for shareholders on record on April 6th. The new payout represents an annualized dividend of $2.88 and a dividend yield of 4.67%.
TD Bank’s success results from its dedication to providing reliable financial services to customers across North America, making it an attractive option for investors seeking stable returns. As institutional investors continue to show confidence in TD, it is likely that the bank will expand its reach and bring even more value to its clients.