The Toronto-Dominion Bank (NYSE:TD) Position Lessened by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC reduced its position in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 63.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,903 shares of the bank’s stock after selling 10,128 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Toronto-Dominion Bank were worth $324,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its position in Toronto-Dominion Bank by 6.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,044,900 shares of the bank’s stock worth $132,141,000 after buying an additional 130,801 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. lifted its holdings in Toronto-Dominion Bank by 2.7% in the 1st quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,388,528 shares of the bank’s stock worth $83,881,000 after purchasing an additional 37,002 shares during the last quarter. Intech Investment Management LLC bought a new stake in Toronto-Dominion Bank during the first quarter worth approximately $6,454,000. FORA Capital LLC acquired a new position in Toronto-Dominion Bank during the first quarter valued at approximately $4,025,000. Finally, V Square Quantitative Management LLC raised its position in shares of Toronto-Dominion Bank by 5,032.5% in the fourth quarter. V Square Quantitative Management LLC now owns 15,808 shares of the bank’s stock valued at $1,022,000 after purchasing an additional 15,500 shares during the period. 52.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on TD shares. UBS Group began coverage on shares of Toronto-Dominion Bank in a report on Tuesday, July 2nd. They set a “neutral” rating for the company. National Bank Financial upgraded shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a report on Thursday. StockNews.com lowered Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Thursday. Cibc World Mkts raised Toronto-Dominion Bank from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 24th. Finally, BMO Capital Markets lowered their target price on Toronto-Dominion Bank from $86.00 to $84.00 and set a “market perform” rating on the stock in a report on Friday, May 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $84.00.

Toronto-Dominion Bank Stock Up 1.5 %

Shares of TD opened at $59.35 on Monday. The Toronto-Dominion Bank has a 52 week low of $53.52 and a 52 week high of $65.12. The firm has a market capitalization of $103.71 billion, a P/E ratio of 13.49, a P/E/G ratio of 1.62 and a beta of 0.82. The company has a 50-day simple moving average of $56.81 and a 200-day simple moving average of $57.65. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.01 and a current ratio of 1.01.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings data on Thursday, August 22nd. The bank reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.56. The company had revenue of $14.18 billion during the quarter, compared to the consensus estimate of $9.40 billion. Toronto-Dominion Bank had a return on equity of 14.38% and a net margin of 9.96%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company earned $1.48 EPS. On average, equities research analysts expect that The Toronto-Dominion Bank will post 5.87 earnings per share for the current year.

Toronto-Dominion Bank Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be issued a $0.739 dividend. This represents a $2.96 annualized dividend and a yield of 4.98%. The ex-dividend date is Thursday, October 10th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 67.73%.

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 four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.