Investors Research Corp trimmed its stake in Toronto Dominion Bank (The) (NYSE:TD – Free Report) (TSE:TD) by 91.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 498 shares of the bank’s stock after selling 5,589 shares during the period. Investors Research Corp’s holdings in Toronto Dominion Bank were worth $60,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Hillsdale Investment Management Inc. boosted its holdings in Toronto Dominion Bank by 3.0% in the first quarter. Hillsdale Investment Management Inc. now owns 1,201,500 shares of the bank’s stock valued at $112,185,000 after acquiring an additional 34,921 shares during the last quarter. Alberta Investment Management Corp bought a new position in Toronto Dominion Bank during the 4th quarter worth approximately $299,850,000. State of Wyoming raised its holdings in Toronto Dominion Bank by 1,018.7% during the 1st quarter. State of Wyoming now owns 22,765 shares of the bank’s stock worth $2,119,000 after purchasing an additional 20,730 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in shares of Toronto Dominion Bank in the 2nd quarter worth approximately $202,900,000. Finally, Ninepoint Partners LP bought a new stake in shares of Toronto Dominion Bank in the 2nd quarter valued at $29,903,000. 52.37% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods started coverage on shares of Toronto Dominion Bank in a research report on Friday, August 21st. They set a “market perform” rating for the company. Weiss Ratings raised shares of Toronto Dominion Bank from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Raymond James Financial upgraded Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 12th. Wall Street Zen raised Toronto Dominion Bank from a “sell” rating to a “hold” rating in a research report on Saturday, August 22nd. Finally, Royal Bank Of Canada boosted their price objective on Toronto Dominion Bank from $138.00 to $156.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Toronto Dominion Bank presently has an average rating of “Moderate Buy” and an average price target of $156.00.
Toronto Dominion Bank Stock Up 1.7%
Toronto Dominion Bank stock opened at $121.51 on Thursday. The company has a market capitalization of $199.87 billion, a PE ratio of 18.06, a PEG ratio of 1.19 and a beta of 0.73. Toronto Dominion Bank has a 12-month low of $74.11 and a 12-month high of $125.46. The firm’s fifty day moving average is $120.66 and its 200 day moving average is $109.81. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.09.
Toronto Dominion Bank (NYSE:TD – Get Free Report) (TSE:TD) last posted its quarterly earnings results on Thursday, August 27th. The bank reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.24. Toronto Dominion Bank had a net margin of 14.41% and a return on equity of 14.88%. The business had revenue of $12.07 billion during the quarter, compared to analysts’ expectations of $10.70 billion. During the same period last year, the company posted $2.20 earnings per share. The business’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, sell-side analysts predict that Toronto Dominion Bank will post 7.04 EPS for the current fiscal year.
Toronto Dominion Bank Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Saturday, October 31st. Investors of record on Friday, October 9th will be given a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend is Friday, October 9th. Toronto Dominion Bank’s payout ratio is presently 46.81%.
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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