Toronto Dominion Bank (The) $TD Stock Sold by MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd

MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd cut its stake in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 3.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 508,524 shares of the bank’s stock after selling 18,353 shares during the quarter. Toronto Dominion Bank makes up approximately 7.6% of MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd’s investment portfolio, making the stock its 2nd largest position. MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd’s holdings in Toronto Dominion Bank were worth $59,767,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp purchased a new position in Toronto Dominion Bank in the second quarter valued at $202,900,000. SEB Asset Management AB purchased a new position in shares of Toronto Dominion Bank in the first quarter valued at approximately $139,123,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Toronto Dominion Bank during the second quarter worth $74,503,000. Dimensional Fund Advisors LP lifted its stake in Toronto Dominion Bank by 8.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,565,982 shares of the bank’s stock worth $705,950,000 after purchasing an additional 589,316 shares in the last quarter. Finally, Nykredit A S acquired a new position in Toronto Dominion Bank during the second quarter worth $46,808,000. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on TD shares. Weiss Ratings upgraded Toronto Dominion Bank from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Wednesday, October 21st. Keefe, Bruyette & Woods started coverage on shares of Toronto Dominion Bank in a research report on Friday, August 21st. They issued a “market perform” rating for the company. Finally, Wall Street Zen upgraded shares of Toronto Dominion Bank from a “sell” rating to a “hold” rating in a report on Saturday, August 22nd. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $148.00.

Toronto Dominion Bank Trading Up 0.5%

NYSE TD opened at $126.37 on Thursday. The firm has a 50-day moving average price of $120.16 and a 200 day moving average price of $110.14. Toronto Dominion Bank has a 52-week low of $79.52 and a 52-week high of $126.57. The stock has a market capitalization of $207.05 billion, a P/E ratio of 18.78, a P/E/G ratio of 1.24 and a beta of 0.75. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.09.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $10.70 billion. Toronto Dominion Bank had a net margin of 14.41% and a return on equity of 14.88%. The business’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the business earned $2.20 earnings per share. Equities research analysts expect that Toronto Dominion Bank will post 7.04 EPS for the current year.

Toronto Dominion Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, October 31st. Investors of record on Friday, October 9th will be given a dividend of C$1.12 per share. The ex-dividend date is Friday, October 9th. This represents a $4.48 dividend on an annualized basis and a yield of 3.5%. Toronto Dominion Bank’s dividend payout ratio (DPR) is 46.66%.

Toronto Dominion Bank declared that its Board of Directors has authorized a share buyback plan on Wednesday, September 30th that authorizes the company to buy back $7.14 billion in outstanding shares. This repurchase authorization authorizes the bank to reacquire up to 3.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Toronto Dominion Bank Profile

Toronto-Dominion Bank, operating as TD Bank Group, is a Canadian financial services company headquartered in Toronto, Ontario. The institution traces its history to the Bank of Toronto, founded in 1855, and the Dominion Bank, founded in 1869; the two banks merged in 1955 to form Toronto-Dominion Bank.

TD provides a broad range of banking and financial services through its Canadian and U.S. operations. Its offerings include personal and business deposit accounts, mortgages, consumer and commercial lending, credit cards, investment products, insurance, wealth management and financial advice.