TD Waterhouse Canada Inc. Cuts Stock Position in Toronto Dominion Bank (The) $TD

TD Waterhouse Canada Inc. reduced its position in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 1.9% during the second quarter, HoldingsChannel.com reports. The firm owned 20,259,577 shares of the bank’s stock after selling 391,382 shares during the period. Toronto Dominion Bank makes up 6.6% of TD Waterhouse Canada Inc.’s portfolio, making the stock its biggest position. TD Waterhouse Canada Inc.’s holdings in Toronto Dominion Bank were worth $2,480,002,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TD. Bayban purchased a new position in Toronto Dominion Bank during the 4th quarter valued at $28,000. Harvest Fund Management Co. Ltd increased its stake in Toronto Dominion Bank by 112.8% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 317 shares of the bank’s stock worth $30,000 after purchasing an additional 168 shares during the period. CBIZ Investment Advisory Services LLC bought a new stake in shares of Toronto Dominion Bank during the fourth quarter worth $34,000. Brown Lisle Cummings Inc. lifted its position in shares of Toronto Dominion Bank by 88.4% during the first quarter. Brown Lisle Cummings Inc. now owns 407 shares of the bank’s stock worth $38,000 after purchasing an additional 191 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Toronto Dominion Bank by 660.9% during the second quarter. Smartleaf Asset Management LLC now owns 525 shares of the bank’s stock valued at $38,000 after purchasing an additional 456 shares during the period. Institutional investors own 52.37% of the company’s stock.

Toronto Dominion Bank Price Performance

TD opened at $123.23 on Friday. Toronto Dominion Bank has a 12-month low of $74.11 and a 12-month high of $125.46. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.09. The business’s fifty day simple moving average is $120.72 and its 200-day simple moving average is $110.01. The company has a market capitalization of $202.69 billion, a price-to-earnings ratio of 18.31, a PEG ratio of 1.21 and a beta of 0.73.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings results on Thursday, August 27th. The bank reported $1.98 EPS for the quarter, beating the consensus estimate of $1.74 by $0.24. The firm had revenue of $12.07 billion for the quarter, compared to analyst estimates of $10.70 billion. Toronto Dominion Bank had a return on equity of 14.88% and a net margin of 14.41%.The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.20 earnings per share. On average, equities research analysts anticipate that Toronto Dominion Bank will post 7.04 earnings per share for the current fiscal year.

Toronto Dominion Bank Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, October 31st. Shareholders of record on Friday, October 9th will be issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 3.6%. The ex-dividend date is Friday, October 9th. Toronto Dominion Bank’s dividend payout ratio is presently 46.81%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on TD shares. Wall Street Zen upgraded shares of Toronto Dominion Bank from a “sell” rating to a “hold” rating in a report on Saturday, August 22nd. Weiss Ratings raised shares of Toronto Dominion Bank from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Royal Bank Of Canada boosted their price objective on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the company an “outperform” rating in a research report on Monday, June 1st. Raymond James Financial raised shares of Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 12th. Finally, Keefe, Bruyette & Woods started coverage on shares of Toronto Dominion Bank in a research report on Friday, August 21st. They set a “market perform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $156.00.

About Toronto Dominion Bank

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.