D.A. Davidson & CO. Trims Stake in Toronto Dominion Bank (The) $TD

D.A. Davidson & CO. trimmed its stake in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 3.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,112 shares of the bank’s stock after selling 605 shares during the period. D.A. Davidson & CO.’s holdings in Toronto Dominion Bank were worth $1,183,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Larson Financial Group LLC increased its stake in shares of Toronto Dominion Bank by 122.9% in the 1st quarter. Larson Financial Group LLC now owns 428 shares of the bank’s stock worth $26,000 after purchasing an additional 236 shares in the last quarter. Richardson Financial Services Inc. purchased a new stake in Toronto Dominion Bank in the 2nd quarter worth $34,000. Brentview Investment Management LLC purchased a new stake in Toronto Dominion Bank in the 1st quarter worth $40,000. Colonial Trust Advisors purchased a new stake in Toronto Dominion Bank in the 1st quarter worth $44,000. Finally, Pandora Wealth Inc. purchased a new stake in Toronto Dominion Bank in the 1st quarter worth $60,000. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Toronto Dominion Bank Stock Up 0.8%

Shares of NYSE:TD opened at $81.62 on Tuesday. 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 has a 12 month low of $51.25 and a 12 month high of $82.08. The company has a 50-day moving average price of $77.79 and a 200 day moving average price of $72.15. The company has a market cap of $138.81 billion, a price-to-earnings ratio of 9.53, a PEG ratio of 1.66 and a beta of 0.80.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings results on Thursday, August 28th. The bank reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.45. Toronto Dominion Bank had a net margin of 16.40% and a return on equity of 13.59%. The firm had revenue of $10.12 billion during the quarter, compared to the consensus estimate of $13.73 billion. During the same quarter last year, the firm earned $2.05 EPS. The firm’s revenue for the quarter was up 7.9% compared to the same quarter last year. As a group, equities research analysts predict that Toronto Dominion Bank will post 5.48 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 10th will be given a $1.05 dividend. This is an increase from Toronto Dominion Bank’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend is Friday, October 10th. This represents a $4.20 dividend on an annualized basis and a yield of 5.1%. Toronto Dominion Bank’s dividend payout ratio is currently 35.75%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TD shares. Wall Street Zen lowered Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research note on Friday, September 26th. Desjardins upgraded Toronto Dominion Bank from a “hold” rating to a “buy” rating in a research note on Wednesday, August 13th. Royal Bank Of Canada upgraded Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research note on Friday, October 3rd. Zacks Research lowered Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Toronto Dominion Bank in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $93.00.

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.