Lido Advisors LLC lessened its holdings in shares of The Toronto-Dominion Bank (NYSE:TD – Free Report) (TSE:TD) by 29.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,393 shares of the bank’s stock after selling 2,674 shares during the period. Lido Advisors LLC’s holdings in Toronto-Dominion Bank were worth $396,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of TD. Bank of Nova Scotia boosted its stake in Toronto-Dominion Bank by 8.2% during the 2nd quarter. Bank of Nova Scotia now owns 36,757,624 shares of the bank’s stock valued at $2,300,294,000 after purchasing an additional 2,777,516 shares during the period. FIL Ltd lifted its stake in Toronto-Dominion Bank by 3.8% during the first quarter. FIL Ltd now owns 33,381,437 shares of the bank’s stock valued at $1,999,428,000 after purchasing an additional 1,221,884 shares during the last quarter. National Bank of Canada FI lifted its stake in Toronto-Dominion Bank by 4.1% during the second quarter. National Bank of Canada FI now owns 32,041,517 shares of the bank’s stock valued at $1,985,259,000 after purchasing an additional 1,247,749 shares during the last quarter. Mackenzie Financial Corp lifted its stake in Toronto-Dominion Bank by 1.6% during the second quarter. Mackenzie Financial Corp now owns 29,954,521 shares of the bank’s stock valued at $1,856,416,000 after purchasing an additional 474,238 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its stake in Toronto-Dominion Bank by 2.0% during the first quarter. 1832 Asset Management L.P. now owns 24,381,379 shares of the bank’s stock valued at $1,460,445,000 after purchasing an additional 473,514 shares during the last quarter. Institutional investors own 51.52% of the company’s stock.
Toronto-Dominion Bank Stock Performance
Shares of TD opened at $61.82 on Monday. The company’s fifty day moving average is $59.22 and its 200-day moving average is $60.66. The Toronto-Dominion Bank has a 12 month low of $54.69 and a 12 month high of $70.67. The firm has a market cap of $111.40 billion, a price-to-earnings ratio of 10.71, a price-to-earnings-growth ratio of 2.00 and a beta of 0.90. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.11.
Toronto-Dominion Bank Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Friday, October 6th were issued a dividend of $0.725 per share. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $0.71. This represents a $2.90 annualized dividend and a dividend yield of 4.69%. The ex-dividend date of this dividend was Thursday, October 5th. Toronto-Dominion Bank’s dividend payout ratio is currently 48.87%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on the stock. StockNews.com assumed coverage on shares of Toronto-Dominion Bank in a report on Thursday, October 5th. They set a “sell” rating on the stock. Credit Suisse Group cut their price target on shares of Toronto-Dominion Bank from $93.00 to $92.00 and set an “outperform” rating on the stock in a report on Friday, August 25th. Royal Bank of Canada dropped their price objective on shares of Toronto-Dominion Bank from $96.00 to $94.00 and set an “outperform” rating on the stock in a research note on Friday, August 25th. Finally, Barclays dropped their price objective on shares of Toronto-Dominion Bank from $84.00 to $82.00 and set an “equal weight” rating on the stock in a research note on Friday, August 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $96.83.
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 three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The company offers personal deposits, such as chequing, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; and financing options to customers at point of sale for automotive and recreational vehicle purchases.
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