Caitong International Asset Management Co. Ltd Cuts Stake in Toronto Dominion Bank (The) $TD

Caitong International Asset Management Co. Ltd reduced its stake in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 72.0% during the second quarter, according to its most recent filing with the SEC. The fund owned 670 shares of the bank’s stock after selling 1,723 shares during the quarter. Caitong International Asset Management Co. Ltd’s holdings in Toronto Dominion Bank were worth $49,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TD. Larson Financial Group LLC boosted its holdings in shares of Toronto Dominion Bank by 122.9% in the 1st quarter. Larson Financial Group LLC now owns 428 shares of the bank’s stock worth $26,000 after buying an additional 236 shares during the last quarter. Richardson Financial Services Inc. purchased a new stake in Toronto Dominion Bank during the second quarter valued at about $34,000. Brentview Investment Management LLC purchased a new stake in Toronto Dominion Bank during the first quarter valued at about $40,000. Colonial Trust Advisors purchased a new stake in Toronto Dominion Bank during the first quarter valued at about $44,000. Finally, Pandora Wealth Inc. purchased a new stake in Toronto Dominion Bank during the first quarter valued at about $60,000. 52.37% of the stock is owned by hedge funds and other institutional investors.

Toronto Dominion Bank Trading Up 0.1%

Shares of TD opened at $80.96 on Friday. The business’s 50-day moving average price is $77.63 and its 200-day moving average price is $71.89. Toronto Dominion Bank has a twelve month low of $51.25 and a twelve month high of $82.08. The stock has a market cap of $137.70 billion, a PE ratio of 9.46, a P/E/G ratio of 1.66 and a beta of 0.80. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.09.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings results on Thursday, August 28th. The bank reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.45. Toronto Dominion Bank had a return on equity of 13.59% and a net margin of 16.40%.The firm had revenue of $10.12 billion for the quarter, compared to analysts’ expectations of $13.73 billion. During the same period in the prior year, the business posted $2.05 earnings per share. The company’s revenue was up 7.9% on a year-over-year basis. On average, equities analysts forecast that Toronto Dominion Bank will post 5.48 EPS for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 10th will be given a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 5.2%. This is a positive change from Toronto Dominion Bank’s previous quarterly dividend of $0.76. The ex-dividend date is Friday, October 10th. Toronto Dominion Bank’s dividend payout ratio (DPR) is currently 35.75%.

Analyst Ratings Changes

Several research firms have commented on TD. Desjardins raised shares of Toronto Dominion Bank from a “hold” rating to a “buy” rating in a report on Wednesday, August 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Toronto Dominion Bank in a report on Friday. Royal Bank Of Canada raised shares of Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a report on Friday, October 3rd. Wall Street Zen downgraded shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a report on Friday, September 26th. Finally, Zacks Research downgraded shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Toronto Dominion Bank currently has a consensus rating of “Hold” and an average price target of $93.00.

Toronto Dominion Bank Company 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.