Ritholtz Wealth Management Reduces Holdings in The Toronto-Dominion Bank (NYSE:TD)

Ritholtz Wealth Management reduced its position in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 11.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 23,496 shares of the bank’s stock after selling 3,064 shares during the period. Ritholtz Wealth Management’s holdings in Toronto-Dominion Bank were worth $1,291,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of TD. Mather Group LLC. acquired a new stake in shares of Toronto-Dominion Bank during the first quarter worth approximately $29,000. LifeSteps Financial Inc. bought a new position in Toronto-Dominion Bank during the 1st quarter valued at $30,000. Triad Wealth Partners LLC acquired a new position in Toronto-Dominion Bank during the 2nd quarter worth $31,000. Blue Trust Inc. increased its position in shares of Toronto-Dominion Bank by 50.7% in the 2nd quarter. Blue Trust Inc. now owns 630 shares of the bank’s stock worth $38,000 after purchasing an additional 212 shares during the last quarter. Finally, Optiver Holding B.V. bought a new stake in Toronto-Dominion Bank in the fourth quarter valued at about $39,000. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Toronto-Dominion Bank Stock Up 0.8 %

Toronto-Dominion Bank stock opened at $59.92 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02. The Toronto-Dominion Bank has a one year low of $53.52 and a one year high of $65.12. The company has a 50-day simple moving average of $57.45 and a 200-day simple moving average of $57.68. The firm has a market capitalization of $104.76 billion, a P/E ratio of 13.62, a P/E/G ratio of 1.75 and a beta of 0.81.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its earnings results on Thursday, August 22nd. The bank reported $2.05 EPS for the quarter, topping the consensus estimate of $1.49 by $0.56. Toronto-Dominion Bank had a net margin of 6.94% and a return on equity of 14.34%. The firm had revenue of $14.18 billion during the quarter, compared to analysts’ expectations of $9.40 billion. During the same quarter in the prior year, the firm earned $1.48 EPS. Toronto-Dominion Bank’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, equities analysts expect that The Toronto-Dominion Bank will post 5.84 earnings per share for the current year.

Toronto-Dominion Bank Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 10th will be given a $0.739 dividend. This represents a $2.96 annualized dividend and a yield of 4.93%. The ex-dividend date of this dividend is Thursday, October 10th. Toronto-Dominion Bank’s dividend payout ratio is currently 67.73%.

Analyst Upgrades and Downgrades

TD has been the topic of several research analyst reports. National Bank Financial upgraded Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research note on Thursday, August 22nd. Cibc World Mkts raised shares of Toronto-Dominion Bank from a “hold” rating to a “strong-buy” rating in a report on Friday, May 24th. UBS Group initiated coverage on shares of Toronto-Dominion Bank in a research report on Tuesday, July 2nd. They set a “neutral” rating for the company. StockNews.com cut shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Thursday, August 22nd. Finally, BMO Capital Markets lowered their target price on Toronto-Dominion Bank from $86.00 to $84.00 and set a “market perform” rating for the company in a report on Friday, May 24th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Toronto-Dominion Bank presently has an average rating of “Hold” and a consensus price target of $84.00.

About Toronto-Dominion Bank

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.