Penobscot Investment Management Company Inc. Lowers Stock Holdings in Toronto Dominion Bank (The) (NYSE:TD)

Penobscot Investment Management Company Inc. trimmed its stake in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 3.3% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 8,844 shares of the bank’s stock after selling 300 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Toronto Dominion Bank were worth $530,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in TD. Norges Bank purchased a new stake in Toronto Dominion Bank in the 4th quarter valued at about $992,204,000. FIL Ltd boosted its position in Toronto Dominion Bank by 17.3% in the 4th quarter. FIL Ltd now owns 38,989,749 shares of the bank’s stock valued at $2,075,819,000 after buying an additional 5,756,584 shares during the period. Geode Capital Management LLC boosted its position in Toronto Dominion Bank by 32.2% in the 4th quarter. Geode Capital Management LLC now owns 10,526,821 shares of the bank’s stock valued at $569,878,000 after buying an additional 2,564,648 shares during the period. Mackenzie Financial Corp boosted its position in Toronto Dominion Bank by 5.6% in the 4th quarter. Mackenzie Financial Corp now owns 27,990,674 shares of the bank’s stock valued at $1,488,233,000 after buying an additional 1,491,472 shares during the period. Finally, Vanguard Group Inc. boosted its position in Toronto Dominion Bank by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 74,118,551 shares of the bank’s stock valued at $3,946,072,000 after buying an additional 1,415,934 shares during the period. 52.37% of the stock is owned by hedge funds and other institutional investors.

Toronto Dominion Bank Trading Up 1.2%

NYSE:TD opened at $72.88 on Friday. Toronto Dominion Bank has a one year low of $51.25 and a one year high of $73.06. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market cap of $125.39 billion, a P/E ratio of 10.69, a P/E/G ratio of 1.77 and a beta of 0.82. The firm has a 50-day simple moving average of $66.79 and a 200-day simple moving average of $60.53.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings results on Thursday, May 22nd. The bank reported $1.39 EPS for the quarter, beating the consensus estimate of $1.25 by $0.14. The business had revenue of $10.97 billion during the quarter, compared to analyst estimates of $13.36 billion. Toronto Dominion Bank had a net margin of 13.53% and a return on equity of 13.11%. During the same quarter in the previous year, the business posted $2.04 EPS. Equities analysts anticipate that Toronto Dominion Bank will post 5.48 EPS for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 10th will be paid a dividend of $0.7568 per share. This represents a $3.03 annualized dividend and a dividend yield of 4.15%. The ex-dividend date is Thursday, July 10th. This is a positive change from Toronto Dominion Bank’s previous quarterly dividend of $0.73. Toronto Dominion Bank’s payout ratio is 42.82%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Wall Street Zen raised shares of Toronto Dominion Bank from a “sell” rating to a “hold” rating in a research report on Saturday, May 24th. Royal Bank Of Canada boosted their price target on shares of Toronto Dominion Bank from $87.00 to $93.00 and gave the company a “sector perform” rating in a report on Friday, May 23rd. Finally, Scotiabank assumed coverage on shares of Toronto Dominion Bank in a report on Thursday, May 15th. They issued a “sector perform” rating for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $93.00.

Toronto Dominion Bank 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.