Letko Brosseau & Associates Inc. Reduces Stock Holdings in Toronto Dominion Bank (The) $TD

Letko Brosseau & Associates Inc. reduced its holdings in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 2.4% during the second quarter, HoldingsChannel.com reports. The fund owned 3,184,648 shares of the bank’s stock after selling 76,917 shares during the quarter. Toronto Dominion Bank makes up approximately 4.5% of Letko Brosseau & Associates Inc.’s investment portfolio, making the stock its largest position. Letko Brosseau & Associates Inc.’s holdings in Toronto Dominion Bank were worth $233,766,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Larson Financial Group LLC lifted its position in shares of Toronto Dominion Bank by 122.9% during the 1st quarter. Larson Financial Group LLC now owns 428 shares of the bank’s stock valued at $26,000 after buying an additional 236 shares during the last quarter. Quaker Wealth Management LLC grew its position in shares of Toronto Dominion Bank by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 428 shares of the bank’s stock valued at $31,000 after purchasing an additional 856 shares in the last quarter. Richardson Financial Services Inc. purchased a new stake in Toronto Dominion Bank during the 2nd quarter worth about $34,000. Tobam boosted its stake in Toronto Dominion Bank by 44.5% in the 2nd quarter. Tobam now owns 490 shares of the bank’s stock worth $36,000 after purchasing an additional 151 shares during the period. Finally, Brentview Investment Management LLC purchased a new position in Toronto Dominion Bank during the 1st quarter valued at about $40,000. 52.37% of the stock is owned by institutional investors.

Toronto Dominion Bank Stock Down 0.1%

Shares of Toronto Dominion Bank stock opened at $81.27 on Friday. The stock has a market capitalization of $137.88 billion, a price-to-earnings ratio of 9.49, a P/E/G ratio of 1.68 and a beta of 0.79. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.02 and a current ratio of 1.02. The company’s 50 day moving average price is $79.78 and its 200-day moving average price is $74.18. Toronto Dominion Bank has a 52-week low of $51.25 and a 52-week high of $82.93.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last posted its earnings results on Thursday, August 28th. The bank reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.45. Toronto Dominion Bank had a net margin of 16.40% and a return on equity of 13.59%. The company had revenue of $10.12 billion during the quarter, compared to analyst estimates of $13.73 billion. During the same period in the prior year, the business posted $2.05 earnings per share. Toronto Dominion Bank’s revenue for the quarter was up 7.9% on a year-over-year basis. Equities research analysts forecast that Toronto Dominion Bank will post 5.48 EPS for the current year.

Toronto Dominion Bank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Friday, October 10th were paid a $1.05 dividend. The ex-dividend date of this dividend was Friday, October 10th. This is a positive change from Toronto Dominion Bank’s previous quarterly dividend of $0.76. This represents a $4.20 dividend on an annualized basis and a yield of 5.2%. Toronto Dominion Bank’s payout ratio is 35.16%.

Wall Street Analysts Forecast Growth

TD has been the topic of several recent analyst reports. Zacks Research cut shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. Royal Bank Of Canada raised Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a report on Friday, October 3rd. Wall Street Zen raised shares of Toronto Dominion Bank from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reissued a “buy (b)” rating on shares of Toronto Dominion Bank in a report on Wednesday, October 8th. Finally, Desjardins raised shares of Toronto Dominion Bank from a “hold” rating to a “buy” rating in a report on Wednesday, August 13th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $93.00.

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.