The Toronto-Dominion Bank (NYSE:TD) Shares Sold by Wasatch Advisors LP

Wasatch Advisors LP cut its holdings in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 25.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,500 shares of the bank’s stock after selling 12,050 shares during the period. Wasatch Advisors LP’s holdings in Toronto-Dominion Bank were worth $2,083,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Canoe Financial LP raised its position in shares of Toronto-Dominion Bank by 2,035.4% in the fourth quarter. Canoe Financial LP now owns 42,808,439 shares of the bank’s stock worth $2,766,281,000 after acquiring an additional 40,803,711 shares during the period. Norges Bank acquired a new position in shares of Toronto-Dominion Bank in the fourth quarter worth about $1,478,898,000. TD Asset Management Inc raised its position in shares of Toronto-Dominion Bank by 28.9% in the fourth quarter. TD Asset Management Inc now owns 46,469,553 shares of the bank’s stock worth $3,017,384,000 after acquiring an additional 10,415,591 shares during the period. Clearbridge Investments LLC acquired a new position in shares of Toronto-Dominion Bank in the fourth quarter worth about $184,389,000. Finally, The Manufacturers Life Insurance Company raised its position in shares of Toronto-Dominion Bank by 20.1% in the third quarter. The Manufacturers Life Insurance Company now owns 17,134,868 shares of the bank’s stock worth $1,039,691,000 after acquiring an additional 2,870,662 shares during the period. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Toronto-Dominion Bank Stock Up 1.4 %

TD stock traded up $0.75 during midday trading on Tuesday, hitting $55.29. The company’s stock had a trading volume of 3,627,333 shares, compared to its average volume of 2,882,492. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.11. The Toronto-Dominion Bank has a 52-week low of $53.52 and a 52-week high of $66.15. The firm has a market capitalization of $96.61 billion, a P/E ratio of 12.51, a PEG ratio of 1.51 and a beta of 0.82. The firm has a 50-day simple moving average of $56.01 and a 200-day simple moving average of $58.89.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings results on Thursday, May 23rd. The bank reported $1.50 EPS for the quarter, beating the consensus estimate of $1.35 by $0.15. Toronto-Dominion Bank had a net margin of 9.96% and a return on equity of 14.38%. The company had revenue of $10.18 billion during the quarter, compared to analysts’ expectations of $9.90 billion. As a group, equities analysts forecast that The Toronto-Dominion Bank will post 5.86 EPS for the current year.

Toronto-Dominion Bank Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 10th will be given a $0.74 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $2.96 annualized dividend and a yield of 5.35%. Toronto-Dominion Bank’s dividend payout ratio is presently 68.64%.

Analyst Upgrades and Downgrades

TD has been the subject of several research analyst reports. Barclays assumed coverage on shares of Toronto-Dominion Bank in a research report on Wednesday, March 20th. They set an “equal weight” rating for the company. National Bank Financial cut shares of Toronto-Dominion Bank from a “sector perform” rating to an “underperform” rating in a research note on Thursday, May 23rd. BMO Capital Markets dropped their price target on shares of Toronto-Dominion Bank from $86.00 to $84.00 and set a “market perform” rating for the company in a research note on Friday, May 24th. StockNews.com cut shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Thursday, June 27th. Finally, UBS Group initiated coverage on shares of Toronto-Dominion Bank in a report on Tuesday. They issued a “neutral” rating on the stock. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Toronto-Dominion Bank has a consensus rating of “Hold” and a consensus target price of $88.00.

Toronto-Dominion Bank Company 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.