Summit Global Investments Trims Stock Position in The Toronto-Dominion Bank (NYSE:TD)

Summit Global Investments cut its position in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 26.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,592 shares of the bank’s stock after selling 1,637 shares during the quarter. Summit Global Investments’ holdings in Toronto-Dominion Bank were worth $297,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Bray Capital Advisors raised its position in shares of Toronto-Dominion Bank by 206.7% during the 3rd quarter. Bray Capital Advisors now owns 460 shares of the bank’s stock valued at $28,000 after buying an additional 310 shares in the last quarter. Bank of New Hampshire bought a new position in Toronto-Dominion Bank in the fourth quarter valued at $32,000. Avior Wealth Management LLC raised its position in Toronto-Dominion Bank by 92.9% during the fourth quarter. Avior Wealth Management LLC now owns 594 shares of the bank’s stock valued at $38,000 after purchasing an additional 286 shares in the last quarter. Bruce G. Allen Investments LLC bought a new stake in Toronto-Dominion Bank during the fourth quarter worth about $50,000. Finally, Bfsg LLC purchased a new position in shares of Toronto-Dominion Bank in the 4th quarter worth about $57,000. 52.37% of the stock is owned by institutional investors.

Toronto-Dominion Bank Stock Up 0.6 %

NYSE:TD opened at $54.97 on Tuesday. The Toronto-Dominion Bank has a 1-year low of $54.12 and a 1-year high of $66.15. The company has a market capitalization of $96.91 billion, a PE ratio of 11.74, a P/E/G ratio of 1.71 and a beta of 0.84. The firm’s 50-day moving average price is $59.06 and its 200-day moving average price is $60.01. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.99 and a quick ratio of 0.99.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings results on Thursday, February 29th. The bank reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.05. The company had revenue of $10.07 billion for the quarter, compared to the consensus estimate of $9.35 billion. Toronto-Dominion Bank had a return on equity of 14.15% and a net margin of 11.16%. On average, equities analysts predict that The Toronto-Dominion Bank will post 5.77 EPS for the current fiscal year.

Toronto-Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Tuesday, April 9th were issued a $0.7519 dividend. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.75. This represents a $3.01 dividend on an annualized basis and a yield of 5.47%. The ex-dividend date was Monday, April 8th. Toronto-Dominion Bank’s payout ratio is presently 64.53%.

Analyst Upgrades and Downgrades

TD has been the topic of a number of analyst reports. Scotiabank upgraded shares of Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, April 17th. Jefferies Financial Group initiated coverage on Toronto-Dominion Bank in a research note on Thursday, February 22nd. They issued a “hold” rating for the company. Finally, Barclays initiated coverage on Toronto-Dominion Bank in a research report on Wednesday, March 20th. They set an “equal weight” rating on the stock. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Toronto-Dominion Bank currently has a consensus rating of “Hold” and a consensus price target of $89.33.

Toronto-Dominion Bank Company 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 four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.