Parallel Advisors LLC Trims Stake in The Toronto-Dominion Bank (NYSE:TD)

Parallel Advisors LLC trimmed its position in shares of The Toronto-Dominion Bank (NYSE:TDFree Report) (TSE:TD) by 12.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,007 shares of the bank’s stock after selling 594 shares during the period. Parallel Advisors LLC’s holdings in Toronto-Dominion Bank were worth $259,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kestra Private Wealth Services LLC lifted its position in shares of Toronto-Dominion Bank by 13.3% during the third quarter. Kestra Private Wealth Services LLC now owns 18,044 shares of the bank’s stock worth $1,087,000 after purchasing an additional 2,122 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Toronto-Dominion Bank by 3.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,171,750 shares of the bank’s stock worth $673,210,000 after purchasing an additional 342,932 shares in the last quarter. Costello Asset Management INC grew its stake in Toronto-Dominion Bank by 3.3% in the third quarter. Costello Asset Management INC now owns 6,325 shares of the bank’s stock worth $381,000 after purchasing an additional 200 shares in the last quarter. Barometer Capital Management Inc. increased its holdings in Toronto-Dominion Bank by 84.4% during the 3rd quarter. Barometer Capital Management Inc. now owns 160,078 shares of the bank’s stock worth $9,646,000 after purchasing an additional 73,274 shares during the period. Finally, Van ECK Associates Corp raised its position in Toronto-Dominion Bank by 9.2% during the 3rd quarter. Van ECK Associates Corp now owns 260,770 shares of the bank’s stock valued at $15,717,000 after purchasing an additional 21,989 shares in the last quarter. 52.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on TD shares. BMO Capital Markets cut their price target on Toronto-Dominion Bank from $86.00 to $84.00 and set a “market perform” rating on the stock in a research note on Friday, May 24th. Barclays assumed coverage on shares of Toronto-Dominion Bank in a report on Wednesday, March 20th. They issued an “equal weight” rating for the company. Cibc World Mkts upgraded shares of Toronto-Dominion Bank from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 24th. Jefferies Financial Group started coverage on shares of Toronto-Dominion Bank in a research note on Thursday, February 22nd. They issued a “hold” rating for the company. Finally, National Bank Financial cut Toronto-Dominion Bank from a “sector perform” rating to an “underperform” rating in a research report on Thursday, May 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Toronto-Dominion Bank has an average rating of “Hold” and a consensus price target of $88.00.

Read Our Latest Stock Report on Toronto-Dominion Bank

Toronto-Dominion Bank Stock Up 1.7 %

TD stock opened at $55.92 on Monday. The stock has a market capitalization of $98.40 billion, a PE ratio of 12.71, a price-to-earnings-growth ratio of 1.54 and a beta of 0.83. The Toronto-Dominion Bank has a 52 week low of $54.12 and a 52 week high of $66.15. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.11. The firm has a 50 day moving average of $57.62 and a 200 day moving average of $59.79.

Toronto-Dominion Bank (NYSE:TDGet Free Report) (TSE:TD) last announced its quarterly earnings data on Thursday, May 23rd. The bank reported $1.50 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.15. The firm had revenue of $10.18 billion for the quarter, compared to analyst estimates of $9.90 billion. Toronto-Dominion Bank had a net margin of 9.96% and a return on equity of 14.38%. Sell-side analysts forecast that The Toronto-Dominion Bank will post 5.86 earnings per share for the current year.

Toronto-Dominion Bank Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th will be issued a $0.74 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 5.29%. The ex-dividend date of this dividend is Wednesday, July 10th. Toronto-Dominion Bank’s dividend payout ratio is presently 68.64%.

Toronto-Dominion Bank Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Toronto-Dominion Bank (NYSE:TD)

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