Baird Financial Group Inc. Sells 1,692 Shares of Toronto Dominion Bank (The) $TD

Baird Financial Group Inc. reduced its holdings in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 24.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,284 shares of the bank’s stock after selling 1,692 shares during the quarter. Baird Financial Group Inc.’s holdings in Toronto Dominion Bank were worth $317,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. GMT Capital Corp bought a new stake in Toronto Dominion Bank in the 1st quarter valued at about $237,000. Vident Advisory LLC increased its holdings in shares of Toronto Dominion Bank by 26.5% during the first quarter. Vident Advisory LLC now owns 5,738 shares of the bank’s stock valued at $344,000 after acquiring an additional 1,203 shares in the last quarter. Evergreen Capital Management LLC increased its holdings in shares of Toronto Dominion Bank by 2.4% during the first quarter. Evergreen Capital Management LLC now owns 8,892 shares of the bank’s stock valued at $533,000 after acquiring an additional 211 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Toronto Dominion Bank by 17.7% during the first quarter. The Manufacturers Life Insurance Company now owns 13,700,503 shares of the bank’s stock valued at $825,440,000 after acquiring an additional 2,057,784 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Toronto Dominion Bank by 81.6% during the first quarter. Canada Pension Plan Investment Board now owns 10,524,446 shares of the bank’s stock valued at $630,746,000 after acquiring an additional 4,729,657 shares in the last quarter. 52.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TD shares. Scotiabank started coverage on Toronto Dominion Bank in a report on Thursday, May 15th. They set a “sector perform” rating for the company. Wall Street Zen upgraded Toronto Dominion Bank from a “sell” rating to a “hold” rating in a report on Saturday, May 24th. Desjardins upgraded Toronto Dominion Bank from a “hold” rating to a “buy” rating in a report on Wednesday, August 13th. Zacks Research downgraded Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. Finally, Royal Bank Of Canada upped their price target on Toronto Dominion Bank from $87.00 to $93.00 and gave the stock a “sector perform” rating in a report on Friday, May 23rd. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $93.00.

Toronto Dominion Bank Trading Up 1.2%

Shares of Toronto Dominion Bank stock opened at $76.80 on Friday. Toronto Dominion Bank has a 12-month low of $51.25 and a 12-month high of $78.95. The stock has a fifty day simple moving average of $74.17 and a 200 day simple moving average of $67.45. The company has a market capitalization of $131.18 billion, a P/E ratio of 8.97, a price-to-earnings-growth ratio of 1.64 and a beta of 0.81. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.09.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its earnings results on Thursday, August 28th. The bank reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.45. Toronto Dominion Bank had a return on equity of 13.59% and a net margin of 16.40%.The firm had revenue of $10.12 billion for the quarter, compared to the consensus estimate of $13.73 billion. During the same quarter in the previous year, the business earned $2.05 EPS. The company’s revenue was up 7.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Toronto Dominion Bank will post 5.48 earnings per share for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 10th will be paid a $1.05 dividend. This is a boost from Toronto Dominion Bank’s previous quarterly dividend of $0.76. The ex-dividend date is Friday, October 10th. This represents a $4.20 dividend on an annualized basis and a yield of 5.5%. Toronto Dominion Bank’s dividend payout ratio is currently 36.10%.

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.