Bank of Nova Scotia Has $1.17 Billion Stake in Toronto Dominion Bank (The) $TD

Bank of Nova Scotia cut its stake in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 35.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,511,563 shares of the bank’s stock after selling 6,975,178 shares during the quarter. Toronto Dominion Bank accounts for about 1.9% of Bank of Nova Scotia’s portfolio, making the stock its 13th largest position. Bank of Nova Scotia owned about 0.76% of Toronto Dominion Bank worth $1,168,207,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Bayban bought a new stake in shares of Toronto Dominion Bank during the fourth quarter worth $28,000. Harvest Fund Management Co. Ltd lifted its stake in shares of Toronto Dominion Bank by 112.8% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 317 shares of the bank’s stock valued at $30,000 after acquiring an additional 168 shares during the last quarter. CBIZ Investment Advisory Services LLC acquired a new stake in shares of Toronto Dominion Bank during the 4th quarter valued at $34,000. Smartleaf Asset Management LLC boosted its holdings in shares of Toronto Dominion Bank by 660.9% during the 2nd quarter. Smartleaf Asset Management LLC now owns 525 shares of the bank’s stock valued at $38,000 after acquiring an additional 456 shares in the last quarter. Finally, Brown Lisle Cummings Inc. grew its position in Toronto Dominion Bank by 88.4% during the 1st quarter. Brown Lisle Cummings Inc. now owns 407 shares of the bank’s stock worth $38,000 after acquiring an additional 191 shares during the last quarter. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Toronto Dominion Bank Trading Down 1.8%

Shares of TD stock opened at $119.15 on Friday. The company has a market cap of $195.98 billion, a P/E ratio of 18.59, a PEG ratio of 1.35 and a beta of 0.71. The stock has a 50 day simple moving average of $117.04 and a two-hundred day simple moving average of $104.60. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. Toronto Dominion Bank has a fifty-two week low of $72.21 and a fifty-two week high of $124.87.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.11. The firm had revenue of $11.80 billion for the quarter, compared to analysts’ expectations of $11.04 billion. Toronto Dominion Bank had a return on equity of 14.83% and a net margin of 13.20%.The company’s revenue for the quarter was down 31.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.97 EPS. Research analysts forecast that Toronto Dominion Bank will post 6.86 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 10th will be paid a dividend of $1.12 per share. This is a boost from Toronto Dominion Bank’s previous quarterly dividend of $1.08. This represents a $4.48 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Friday, July 10th. Toronto Dominion Bank’s payout ratio is currently 49.14%.

Analyst Upgrades and Downgrades

Several research firms have commented on TD. Zacks Research downgraded Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Weiss Ratings cut Toronto Dominion Bank from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday. Raymond James Financial raised Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 12th. Scotiabank upgraded shares of Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Monday, May 4th. Finally, Wall Street Zen downgraded shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Toronto Dominion Bank presently has a consensus rating of “Moderate Buy” and an average target price of $156.00.

About Toronto Dominion Bank

Toronto-Dominion Bank (TD) is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. Formed through the 1955 merger of the Bank of Toronto (founded 1855) and the Dominion Bank (founded 1869), TD is one of Canada’s largest banks and offers a broad range of financial products and services to individual, small business, commercial and institutional clients.

TD’s core businesses include Canadian and U.S. personal and commercial banking, wealth management, wholesale banking and insurance.