OMERS ADMINISTRATION Corp cut its stake in shares of Toronto Dominion Bank (The) (NYSE:TD – Free Report) (TSE:TD) by 12.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 1,617,955 shares of the bank’s stock after selling 239,412 shares during the period. Toronto Dominion Bank makes up 1.0% of OMERS ADMINISTRATION Corp’s portfolio, making the stock its 28th largest holding. OMERS ADMINISTRATION Corp’s holdings in Toronto Dominion Bank were worth $150,625,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Lombard Odier Asset Management Switzerland SA lifted its holdings in Toronto Dominion Bank by 15.2% in the first quarter. Lombard Odier Asset Management Switzerland SA now owns 131,072 shares of the bank’s stock valued at $12,237,000 after acquiring an additional 17,300 shares during the period. Sustainable Insight Capital Management LLC grew its stake in shares of Toronto Dominion Bank by 12.0% during the 1st quarter. Sustainable Insight Capital Management LLC now owns 33,065 shares of the bank’s stock worth $3,089,000 after purchasing an additional 3,552 shares during the period. Morningstar Investment Management LLC grew its stake in shares of Toronto Dominion Bank by 11.6% during the 1st quarter. Morningstar Investment Management LLC now owns 23,553 shares of the bank’s stock worth $2,200,000 after purchasing an additional 2,456 shares during the period. Compound Planning Inc. increased its holdings in shares of Toronto Dominion Bank by 4.8% in the 1st quarter. Compound Planning Inc. now owns 25,422 shares of the bank’s stock valued at $2,372,000 after purchasing an additional 1,158 shares in the last quarter. Finally, Dickmeyer Boyce Financial Management Inc. acquired a new stake in shares of Toronto Dominion Bank in the first quarter valued at about $1,034,000. Institutional investors and hedge funds own 52.37% of the company’s stock.
Analysts Set New Price Targets
A number of analysts recently commented on the stock. Wall Street Zen downgraded shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Royal Bank Of Canada lifted their price target on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the company an “outperform” rating in a research report on Monday, June 1st. Zacks Research lowered Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Raymond James Financial upgraded Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 12th. Finally, Scotiabank raised Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $156.00.
Toronto Dominion Bank Stock Performance
Shares of NYSE TD opened at $119.82 on Friday. The company has a 50-day simple moving average of $117.29 and a 200-day simple moving average of $104.71. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market cap of $197.09 billion, a PE ratio of 18.69, a price-to-earnings-growth ratio of 1.34 and a beta of 0.71. Toronto Dominion Bank has a 12 month low of $72.21 and a 12 month high of $124.87.
Toronto Dominion Bank (NYSE:TD – Get Free Report) (TSE:TD) last announced its quarterly earnings data on Thursday, May 28th. The bank reported $1.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.11. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. The business had revenue of $11.80 billion for the quarter, compared to the consensus estimate of $11.04 billion. During the same quarter in the prior year, the firm posted $1.97 earnings per share. The company’s quarterly revenue was down 31.1% compared to the same quarter last year. On average, equities analysts anticipate that Toronto Dominion Bank will post 6.86 earnings per share for the current year.
Toronto Dominion Bank Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 10th will be paid a dividend of $1.12 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.7%. This is a boost from Toronto Dominion Bank’s previous quarterly dividend of $1.08. Toronto Dominion Bank’s dividend payout ratio is currently 49.14%.
About Toronto Dominion Bank
Toronto-Dominion Bank (TD) is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. Formed through the 1955 merger of the Bank of Toronto (founded 1855) and the Dominion Bank (founded 1869), TD is one of Canada’s largest banks and offers a broad range of financial products and services to individual, small business, commercial and institutional clients.
TD’s core businesses include Canadian and U.S. personal and commercial banking, wealth management, wholesale banking and insurance.
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