Financial Architects Inc Reduces Stock Holdings in The Toronto-Dominion Bank (NYSE:TD)

Financial Architects Inc lowered its position in shares of The Toronto-Dominion Bank (NYSE:TDFree Report) (TSE:TD) by 3.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,302 shares of the bank’s stock after selling 208 shares during the period. Financial Architects Inc’s holdings in Toronto-Dominion Bank were worth $329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. TD Asset Management Inc boosted its position in shares of Toronto-Dominion Bank by 1.5% during the 2nd quarter. TD Asset Management Inc now owns 37,106,631 shares of the bank’s stock worth $2,302,532,000 after purchasing an additional 541,053 shares during the period. Bank of Nova Scotia lifted its stake in Toronto-Dominion Bank by 8.2% during the second quarter. Bank of Nova Scotia now owns 36,757,624 shares of the bank’s stock worth $2,300,294,000 after purchasing an additional 2,777,516 shares in the last quarter. FIL Ltd boosted its position in shares of Toronto-Dominion Bank by 3.8% during the first quarter. FIL Ltd now owns 33,381,437 shares of the bank’s stock worth $1,999,428,000 after buying an additional 1,221,884 shares during the period. National Bank of Canada FI raised its holdings in shares of Toronto-Dominion Bank by 4.1% in the 2nd quarter. National Bank of Canada FI now owns 32,041,517 shares of the bank’s stock valued at $1,985,259,000 after buying an additional 1,247,749 shares during the period. Finally, Mackenzie Financial Corp lifted its stake in Toronto-Dominion Bank by 1.6% during the 2nd quarter. Mackenzie Financial Corp now owns 29,954,521 shares of the bank’s stock worth $1,856,416,000 after acquiring an additional 474,238 shares in the last quarter. 51.52% of the stock is currently owned by hedge funds and other institutional investors.

Toronto-Dominion Bank Price Performance

Shares of TD opened at $61.29 on Thursday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.00. The Toronto-Dominion Bank has a fifty-two week low of $54.69 and a fifty-two week high of $70.67. The firm has a 50-day simple moving average of $59.13 and a 200-day simple moving average of $60.64. The company has a market capitalization of $110.45 billion, a price-to-earnings ratio of 10.62, a price-to-earnings-growth ratio of 1.96 and a beta of 0.90.

Toronto-Dominion Bank (NYSE:TDGet Free Report) (TSE:TD) last posted its quarterly earnings data on Thursday, August 24th. The bank reported $1.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.04). The company had revenue of $9.51 billion for the quarter, compared to analyst estimates of $9 billion. Toronto-Dominion Bank had a return on equity of 15.17% and a net margin of 15.25%. On average, equities research analysts anticipate that The Toronto-Dominion Bank will post 5.97 earnings per share for the current year.

Toronto-Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th were paid a $0.725 dividend. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $0.71. This represents a $2.90 annualized dividend and a yield of 4.73%. The ex-dividend date was Thursday, October 5th. Toronto-Dominion Bank’s payout ratio is currently 49.05%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on TD shares. StockNews.com assumed coverage on shares of Toronto-Dominion Bank in a report on Thursday, October 5th. They issued a “sell” rating for the company. Royal Bank of Canada reduced their price objective on Toronto-Dominion Bank from $96.00 to $94.00 and set an “outperform” rating on the stock in a research note on Friday, August 25th. Barclays lowered their target price on Toronto-Dominion Bank from $84.00 to $82.00 and set an “equal weight” rating for the company in a research note on Friday, August 25th. Finally, Credit Suisse Group decreased their price objective on Toronto-Dominion Bank from $93.00 to $92.00 and set an “outperform” rating for the company in a research note on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $97.71.

View Our Latest Stock Analysis on TD

Toronto-Dominion Bank Profile

(Free Report)

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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