Rhumbline Advisers Reduces Stake in Toronto Dominion Bank (The) (NYSE:TD)

Rhumbline Advisers lessened its holdings in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 5.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,080 shares of the bank’s stock after selling 1,016 shares during the period. Rhumbline Advisers’ holdings in Toronto Dominion Bank were worth $1,144,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. D.A. Davidson & CO. lifted its position in shares of Toronto Dominion Bank by 18.0% during the 4th quarter. D.A. Davidson & CO. now owns 14,052 shares of the bank’s stock worth $748,000 after buying an additional 2,148 shares during the last quarter. Bank of Jackson Hole Trust acquired a new stake in Toronto Dominion Bank during the 4th quarter worth $32,000. Global Retirement Partners LLC lifted its position in Toronto Dominion Bank by 26.3% in the fourth quarter. Global Retirement Partners LLC now owns 2,309 shares of the bank’s stock valued at $123,000 after acquiring an additional 481 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in Toronto Dominion Bank in the fourth quarter valued at $58,000. Finally, IFP Advisors Inc grew its holdings in shares of Toronto Dominion Bank by 367.0% during the fourth quarter. IFP Advisors Inc now owns 2,279 shares of the bank’s stock worth $121,000 after purchasing an additional 1,791 shares during the last quarter. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TD. Scotiabank began coverage on Toronto Dominion Bank in a research report on Thursday, May 15th. They issued a “sector perform” rating for the company. Royal Bank Of Canada increased their price objective on Toronto Dominion Bank from $87.00 to $93.00 and gave the company a “sector perform” rating in a report on Friday, May 23rd. Finally, Wall Street Zen raised shares of Toronto Dominion Bank from a “sell” rating to a “hold” rating in a report on Saturday, May 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Toronto Dominion Bank has an average rating of “Hold” and an average target price of $93.00.

Toronto Dominion Bank Stock Up 0.6%

TD opened at $71.30 on Friday. Toronto Dominion Bank has a 52 week low of $51.25 and a 52 week high of $71.63. The business has a 50 day moving average price of $65.60 and a two-hundred day moving average price of $59.92. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.09. The company has a market cap of $122.83 billion, a PE ratio of 10.45, a P/E/G ratio of 1.76 and a beta of 0.82.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings results on Thursday, May 22nd. The bank reported $1.39 EPS for the quarter, topping the consensus estimate of $1.25 by $0.14. Toronto Dominion Bank had a return on equity of 13.11% and a net margin of 13.53%. The business had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $13.36 billion. During the same quarter in the prior year, the business earned $2.04 earnings per share. As a group, research analysts anticipate that Toronto Dominion Bank will post 5.48 EPS for the current year.

Toronto Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 10th will be given a dividend of $0.7568 per share. The ex-dividend date is Thursday, July 10th. This represents a $3.03 dividend on an annualized basis and a yield of 4.25%. This is an increase from Toronto Dominion Bank’s previous quarterly dividend of $0.73. Toronto Dominion Bank’s dividend payout ratio is presently 42.82%.

Toronto Dominion Bank Profile

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.