Moors & Cabot Inc. reduced its position in shares of The Toronto-Dominion Bank (NYSE:TD – Free Report) (TSE:TD) by 7.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,268 shares of the bank’s stock after selling 2,020 shares during the period. Moors & Cabot Inc.’s holdings in Toronto-Dominion Bank were worth $1,629,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in TD. Cetera Advisor Networks LLC raised its stake in Toronto-Dominion Bank by 7.0% in the second quarter. Cetera Advisor Networks LLC now owns 70,942 shares of the bank’s stock valued at $4,399,000 after purchasing an additional 4,631 shares in the last quarter. Cetera Investment Advisers raised its position in shares of Toronto-Dominion Bank by 131.0% during the 2nd quarter. Cetera Investment Advisers now owns 36,205 shares of the bank’s stock valued at $2,245,000 after buying an additional 20,533 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Toronto-Dominion Bank by 12.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,855,953 shares of the bank’s stock worth $115,088,000 after acquiring an additional 210,745 shares during the last quarter. TD Asset Management Inc grew its position in Toronto-Dominion Bank by 1.5% in the second quarter. TD Asset Management Inc now owns 37,106,631 shares of the bank’s stock worth $2,302,532,000 after acquiring an additional 541,053 shares in the last quarter. Finally, Spotlight Asset Group Inc. purchased a new position in Toronto-Dominion Bank in the second quarter worth $62,000. Hedge funds and other institutional investors own 51.52% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have issued reports on TD shares. Credit Suisse Group cut their target price 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. Barclays cut their price objective on shares of 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. StockNews.com initiated coverage on shares of Toronto-Dominion Bank in a research report on Thursday, October 5th. They issued a “sell” rating on the stock. Finally, Royal Bank of Canada cut their price target on shares of Toronto-Dominion Bank from $96.00 to $94.00 and set an “outperform” rating for the company in a research report on Friday, August 25th. One 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $97.71.
Toronto-Dominion Bank Stock Down 0.6 %
Shares of NYSE:TD traded down $0.38 during trading on Thursday, hitting $60.91. The stock had a trading volume of 131,394 shares, compared to its average volume of 2,453,166. The company has a market capitalization of $109.76 billion, a PE ratio of 10.62, a PEG ratio of 1.96 and a beta of 0.90. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.11. The firm’s fifty day moving average is $59.13 and its 200 day moving average is $60.64. The Toronto-Dominion Bank has a 12 month low of $54.69 and a 12 month high of $70.67.
Toronto-Dominion Bank (NYSE:TD – Get Free Report) (TSE:TD) last issued its quarterly earnings results on Thursday, August 24th. The bank reported $1.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.52 by ($0.04). Toronto-Dominion Bank had a return on equity of 15.17% and a net margin of 15.25%. The business had revenue of $9.51 billion during the quarter, compared to the consensus estimate of $9 billion. Analysts anticipate that The Toronto-Dominion Bank will post 5.97 EPS for the current fiscal 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 dividend of $0.725 per share. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.71. This represents a $2.90 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date of this dividend was Thursday, October 5th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is currently 49.05%.
Toronto-Dominion Bank 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 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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