Allspring Global Investments Holdings LLC Trims Stock Position in The Toronto-Dominion Bank (NYSE:TD)

Allspring Global Investments Holdings LLC cut its stake in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 93.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,917 shares of the bank’s stock after selling 25,664 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Toronto-Dominion Bank were worth $121,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TD. Dimensional Fund Advisors LP grew its holdings in Toronto-Dominion Bank by 61.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,806,974 shares of the bank’s stock valued at $319,151,000 after buying an additional 2,215,185 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in Toronto-Dominion Bank by 31.7% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 9,102,035 shares of the bank’s stock valued at $549,550,000 after purchasing an additional 2,188,263 shares during the period. National Bank of Canada FI increased its position in shares of Toronto-Dominion Bank by 6.2% during the first quarter. National Bank of Canada FI now owns 29,655,117 shares of the bank’s stock worth $1,677,917,000 after acquiring an additional 1,736,931 shares during the last quarter. 1832 Asset Management L.P. increased its position in shares of Toronto-Dominion Bank by 6.0% during the second quarter. 1832 Asset Management L.P. now owns 25,803,480 shares of the bank’s stock worth $1,418,159,000 after acquiring an additional 1,462,794 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of Toronto-Dominion Bank by 17.9% during the first quarter. Canada Pension Plan Investment Board now owns 8,175,457 shares of the bank’s stock worth $493,880,000 after acquiring an additional 1,238,502 shares during the last quarter. 52.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TD has been the subject of a number of research reports. StockNews.com downgraded Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Thursday, August 22nd. Royal Bank of Canada downgraded Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research report on Friday, October 11th. Finally, National Bank Financial raised Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $84.00.

Toronto-Dominion Bank Stock Performance

NYSE:TD opened at $55.03 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $96.22 billion, a PE ratio of 17.58, a price-to-earnings-growth ratio of 1.62 and a beta of 0.82. The Toronto-Dominion Bank has a 12-month low of $53.52 and a 12-month high of $65.12. The firm has a 50-day moving average price of $60.06 and a 200 day moving average price of $57.89.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.56. Toronto-Dominion Bank had a net margin of 6.94% and a return on equity of 14.34%. The company had revenue of $14.18 billion for the quarter, compared to analyst estimates of $9.40 billion. During the same period last year, the business posted $1.48 earnings per share. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. Research analysts anticipate that The Toronto-Dominion Bank will post 5.82 earnings per share for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were issued a dividend of $0.739 per share. This represents a $2.96 annualized dividend and a dividend yield of 5.37%. The ex-dividend date was Thursday, October 10th. Toronto-Dominion Bank’s payout ratio is 96.17%.

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.