Whittier Trust Co. of Nevada Inc. reduced its position in Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 18.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,782 shares of the bank’s stock after selling 1,582 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Toronto-Dominion Bank were worth $396,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Monte Financial Group LLC boosted its position in shares of Toronto-Dominion Bank by 101.8% in the first quarter. Monte Financial Group LLC now owns 51,739 shares of the bank’s stock valued at $2,811,000 after acquiring an additional 26,098 shares during the period. Successful Portfolios LLC bought a new stake in Toronto-Dominion Bank during the second quarter valued at approximately $205,000. Wright Investors Service Inc. lifted its position in Toronto-Dominion Bank by 4.1% during the first quarter. Wright Investors Service Inc. now owns 18,939 shares of the bank’s stock valued at $1,029,000 after purchasing an additional 746 shares during the last quarter. Nordea Investment Management AB lifted its position in Toronto-Dominion Bank by 2.1% during the first quarter. Nordea Investment Management AB now owns 1,055,049 shares of the bank’s stock valued at $76,512,000 after purchasing an additional 21,630 shares during the last quarter. Finally, Welch & Forbes LLC lifted its position in Toronto-Dominion Bank by 1.2% during the second quarter. Welch & Forbes LLC now owns 364,181 shares of the bank’s stock valued at $21,254,000 after purchasing an additional 4,482 shares during the last quarter. Institutional investors own 48.09% of the company’s stock.
Several brokerages have issued reports on TD. Barclays upgraded shares of Toronto-Dominion Bank from an “equal weight” rating to an “overweight” rating and set a $84.00 target price for the company in a research report on Tuesday, June 11th. Zacks Investment Research upgraded shares of Toronto-Dominion Bank from a “sell” rating to a “hold” rating in a research report on Thursday. BMO Capital Markets reiterated a “buy” rating on shares of Toronto-Dominion Bank in a research report on Friday, May 24th. National Bank Financial lowered shares of Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research report on Thursday, May 23rd. Finally, Canaccord Genuity reiterated a “buy” rating on shares of Toronto-Dominion Bank in a research report on Thursday, May 23rd. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $72.00.
Shares of TD stock traded down $0.53 during trading hours on Friday, hitting $56.98. 1,013,050 shares of the company’s stock were exchanged, compared to its average volume of 1,048,570. The stock has a market capitalization of $105.21 billion, a P/E ratio of 11.33, a PEG ratio of 1.83 and a beta of 1.04. Toronto-Dominion Bank has a 12-month low of $47.73 and a 12-month high of $62.00. The stock has a 50 day simple moving average of $58.37. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.11.
Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings results on Thursday, May 23rd. The bank reported $1.75 EPS for the quarter, topping the consensus estimate of $1.25 by $0.50. The firm had revenue of $10.23 billion for the quarter, compared to the consensus estimate of $9.46 billion. Toronto-Dominion Bank had a net margin of 20.24% and a return on equity of 16.21%. The business’s revenue was up 8.0% compared to the same quarter last year. During the same period last year, the firm posted $1.62 earnings per share. On average, sell-side analysts anticipate that Toronto-Dominion Bank will post 5.06 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 10th were paid a dividend of $0.5511 per share. This represents a $2.20 annualized dividend and a dividend yield of 3.87%. The ex-dividend date was Tuesday, July 9th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 44.93%.
About Toronto-Dominion Bank
The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. The company operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. It offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; financing options to customers at point of sale for automotive and recreational vehicle purchases through auto dealer network; credit cards; investing, advice-based, and asset management services to retail and institutional clients; and property and casualty insurance, as well as life and health insurance products.
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