Te Ahumairangi Investment Management Ltd Sells 26,272 Shares of Toronto Dominion Bank (The) $TD

Te Ahumairangi Investment Management Ltd cut its holdings in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 45.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 31,239 shares of the bank’s stock after selling 26,272 shares during the period. Te Ahumairangi Investment Management Ltd’s holdings in Toronto Dominion Bank were worth $2,948,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Principal Securities Inc. raised its position in Toronto Dominion Bank by 20.8% in the fourth quarter. Principal Securities Inc. now owns 21,034 shares of the bank’s stock worth $1,981,000 after acquiring an additional 3,617 shares during the period. Aviva PLC raised its position in Toronto Dominion Bank by 5.4% in the fourth quarter. Aviva PLC now owns 1,467,456 shares of the bank’s stock worth $138,412,000 after acquiring an additional 75,352 shares during the period. Burkett Asset Management Ltd bought a new position in Toronto Dominion Bank in the fourth quarter worth approximately $4,554,000. Xponance LLC bought a new position in Toronto Dominion Bank in the fourth quarter worth approximately $676,000. Finally, Nuveen LLC raised its position in Toronto Dominion Bank by 22.2% in the fourth quarter. Nuveen LLC now owns 1,466,819 shares of the bank’s stock worth $138,426,000 after acquiring an additional 266,116 shares during the period. 52.37% of the stock is currently owned by institutional investors.

Toronto Dominion Bank Price Performance

NYSE:TD opened at $116.28 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09. The business’s 50-day simple moving average is $106.98 and its two-hundred day simple moving average is $98.18. The stock has a market cap of $192.14 billion, a PE ratio of 18.14, a P/E/G ratio of 1.27 and a beta of 0.72. Toronto Dominion Bank has a 52 week low of $70.09 and a 52 week high of $116.45.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last issued its earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.11. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. The firm had revenue of $11.80 billion during the quarter, compared to analyst estimates of $11.04 billion. During the same quarter in the prior year, the business earned $1.97 earnings per share. Toronto Dominion Bank’s revenue for the quarter was down 31.1% on a year-over-year basis. As a group, analysts forecast that Toronto Dominion Bank will post 6.92 EPS for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 10th will be given a dividend of $1.12 per share. This is a positive change from Toronto Dominion Bank’s previous quarterly dividend of $1.08. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Friday, July 10th. Toronto Dominion Bank’s dividend payout ratio (DPR) is currently 48.52%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TD. Wall Street Zen downgraded Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Raymond James Financial upgraded Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 12th. Weiss Ratings downgraded Toronto Dominion Bank from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Friday, May 29th. Royal Bank Of Canada boosted their price objective on Toronto Dominion Bank from $138.00 to $156.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. Finally, Canadian Imperial Bank of Commerce cut Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $156.00.

Toronto Dominion Bank Profile

Toronto-Dominion Bank (TD) is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. Formed through the 1955 merger of the Bank of Toronto (founded 1855) and the Dominion Bank (founded 1869), TD is one of Canada’s largest banks and offers a broad range of financial products and services to individual, small business, commercial and institutional clients.

TD’s core businesses include Canadian and U.S. personal and commercial banking, wealth management, wholesale banking and insurance.