Toronto Dominion Bank Increases Holdings in Futu Holdings Limited (NASDAQ:FUTU)

Toronto Dominion Bank boosted its position in shares of Futu Holdings Limited (NASDAQ:FUTU) by 61.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 11,482 shares of the company’s stock after buying an additional 4,387 shares during the period. Toronto Dominion Bank’s holdings in Futu were worth $1,098,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in shares of Futu by 3.3% during the third quarter. Geode Capital Management LLC now owns 545,949 shares of the company’s stock valued at $51,475,000 after buying an additional 17,513 shares during the period. M&T Bank Corp purchased a new position in Futu during the 3rd quarter valued at about $203,000. Public Employees Retirement System of Ohio purchased a new position in Futu during the 3rd quarter valued at about $373,000. Y Intercept Hong Kong Ltd raised its holdings in shares of Futu by 136.9% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 42,149 shares of the company’s stock valued at $4,032,000 after purchasing an additional 24,355 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its position in shares of Futu by 130.9% in the 3rd quarter. Quantinno Capital Management LP now owns 28,134 shares of the company’s stock worth $2,691,000 after purchasing an additional 15,949 shares during the period.

Futu Trading Down 4.7 %

NASDAQ FUTU opened at $82.45 on Tuesday. Futu Holdings Limited has a 12-month low of $43.61 and a 12-month high of $130.50. The firm’s fifty day simple moving average is $92.73 and its two-hundred day simple moving average is $76.99. The firm has a market capitalization of $11.36 billion, a P/E ratio of 20.21, a P/E/G ratio of 0.88 and a beta of 0.72.

Futu Announces Dividend

The firm also recently announced a — dividend, which will be paid on Friday, January 10th. Investors of record on Friday, December 6th will be given a dividend of $2.00 per share. The ex-dividend date is Friday, December 6th.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Citigroup lowered shares of Futu from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $79.00 to $95.00 in a report on Tuesday, November 19th. Morgan Stanley raised Futu from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $70.00 to $115.00 in a research report on Monday, November 18th. Finally, Bank of America raised their price objective on Futu from $80.20 to $90.00 and gave the company a “buy” rating in a research report on Friday, September 27th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Futu currently has a consensus rating of “Moderate Buy” and a consensus target price of $87.33.

About Futu

Futu Holdings Limited provides digitalized securities brokerage and wealth management product distribution service in Hong Kong and internationally. It offers online financial services, including securities and derivative trades brokerage, margin financing and fund distribution services through its Futubull and Moomoo digital platforms.