Stonnington Group LLC Lowers Position in The Toronto-Dominion Bank (NYSE:TD)

Stonnington Group LLC cut its holdings in The Toronto-Dominion Bank (NYSE:TDGet Rating) (TSE:TD) by 4.3% in the second quarter, Holdings Channel reports. The fund owned 3,740 shares of the bank’s stock after selling 170 shares during the quarter. Stonnington Group LLC’s holdings in Toronto-Dominion Bank were worth $238,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in TD. Fairfield Bush & CO. purchased a new stake in Toronto-Dominion Bank in the first quarter worth about $26,000. Jones Financial Companies Lllp bought a new position in Toronto-Dominion Bank in the first quarter worth about $38,000. AdvisorNet Financial Inc raised its holdings in Toronto-Dominion Bank by 55.6% in the first quarter. AdvisorNet Financial Inc now owns 557 shares of the bank’s stock worth $44,000 after purchasing an additional 199 shares in the last quarter. Mystic Asset Management Inc. bought a new position in Toronto-Dominion Bank in the fourth quarter worth about $46,000. Finally, Citizens National Bank Trust Department bought a new position in Toronto-Dominion Bank in the fourth quarter worth about $61,000. 49.10% of the stock is owned by hedge funds and other institutional investors.

Toronto-Dominion Bank Price Performance

Shares of NYSE:TD opened at $66.21 on Monday. The Toronto-Dominion Bank has a twelve month low of $58.64 and a twelve month high of $86.01. The company’s 50 day moving average is $65.10 and its 200 day moving average is $70.67. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.12. The company has a market cap of $120.13 billion, a PE ratio of 10.64, a price-to-earnings-growth ratio of 1.49 and a beta of 0.94.

Toronto-Dominion Bank (NYSE:TDGet Rating) (TSE:TD) last issued its quarterly earnings results on Thursday, August 25th. The bank reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.05. Toronto-Dominion Bank had a net margin of 22.93% and a return on equity of 16.09%. During the same period in the prior year, the firm posted $1.60 EPS. On average, sell-side analysts forecast that The Toronto-Dominion Bank will post 6.34 EPS for the current year.

Toronto-Dominion Bank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, October 7th will be issued a $0.696 dividend. This represents a $2.78 annualized dividend and a yield of 4.20%. The ex-dividend date of this dividend is Thursday, October 6th. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $0.69. Toronto-Dominion Bank’s dividend payout ratio is 44.53%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods upgraded shares of Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a report on Friday, September 2nd. Canaccord Genuity Group reduced their target price on shares of Toronto-Dominion Bank from C$96.00 to C$94.50 in a report on Monday, August 29th. Scotiabank reduced their target price on shares of Toronto-Dominion Bank from C$102.00 to C$101.00 in a report on Thursday, August 18th. Stifel Nicolaus reduced their target price on shares of Toronto-Dominion Bank from C$97.00 to C$93.00 in a report on Wednesday, July 13th. Finally, National Bank Financial boosted their target price on shares of Toronto-Dominion Bank from C$102.00 to C$106.00 in a report on Friday, August 26th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Toronto-Dominion Bank currently has an average rating of “Hold” and a consensus price target of $100.36.

Toronto-Dominion Bank Profile

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The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The company offers personal deposits, such as chequing, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; and financing options to customers at point of sale for automotive and recreational vehicle purchases.

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Institutional Ownership by Quarter for Toronto-Dominion Bank (NYSE:TD)

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