Summit Global Investments Lowers Stake in The Toronto-Dominion Bank (NYSE:TD)

Summit Global Investments cut its holdings in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 26.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 4,592 shares of the bank’s stock after selling 1,637 shares during the period. Summit Global Investments’ holdings in Toronto-Dominion Bank were worth $297,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Bray Capital Advisors lifted its stake in Toronto-Dominion Bank by 206.7% in the 3rd quarter. Bray Capital Advisors now owns 460 shares of the bank’s stock valued at $28,000 after buying an additional 310 shares in the last quarter. Bank of New Hampshire acquired a new position in shares of Toronto-Dominion Bank during the fourth quarter valued at approximately $32,000. Avior Wealth Management LLC lifted its position in shares of Toronto-Dominion Bank by 92.9% in the fourth quarter. Avior Wealth Management LLC now owns 594 shares of the bank’s stock valued at $38,000 after acquiring an additional 286 shares in the last quarter. Bruce G. Allen Investments LLC acquired a new stake in shares of Toronto-Dominion Bank in the fourth quarter worth approximately $50,000. Finally, Bfsg LLC purchased a new stake in shares of Toronto-Dominion Bank during the fourth quarter worth approximately $57,000. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Stock Up 0.6 %

NYSE TD opened at $54.97 on Tuesday. The business’s fifty day simple moving average is $59.06 and its 200-day simple moving average is $60.01. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.09. The firm has a market cap of $96.91 billion, a PE ratio of 11.74, a P/E/G ratio of 1.71 and a beta of 0.84. The Toronto-Dominion Bank has a 52 week low of $54.12 and a 52 week high of $66.15.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings data on Thursday, February 29th. The bank reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.05. Toronto-Dominion Bank had a net margin of 11.16% and a return on equity of 14.15%. The firm had revenue of $10.07 billion during the quarter, compared to analysts’ expectations of $9.35 billion. As a group, equities analysts anticipate that The Toronto-Dominion Bank will post 5.77 earnings per share for the current year.

Toronto-Dominion Bank Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 9th were issued a dividend of $0.7519 per share. The ex-dividend date of this dividend was Monday, April 8th. This represents a $3.01 dividend on an annualized basis and a dividend yield of 5.47%. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $0.75. Toronto-Dominion Bank’s dividend payout ratio (DPR) is currently 64.53%.

Analysts Set New Price Targets

Several brokerages have issued reports on TD. Jefferies Financial Group began coverage on shares of Toronto-Dominion Bank in a research note on Thursday, February 22nd. They set a “hold” rating on the stock. Scotiabank upgraded shares of Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, April 17th. Finally, Barclays started coverage on shares of Toronto-Dominion Bank in a report on Wednesday, March 20th. They issued an “equal weight” rating for the company. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $89.33.

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.