Investment Management Corp of Ontario Reduces Stock Holdings in Toronto Dominion Bank (The) $TD

Investment Management Corp of Ontario reduced its stake in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 2.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 237,450 shares of the bank’s stock after selling 5,819 shares during the quarter. Investment Management Corp of Ontario’s holdings in Toronto Dominion Bank were worth $17,441,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of TD. AXA S.A. grew its holdings in Toronto Dominion Bank by 253.7% during the second quarter. AXA S.A. now owns 164,172 shares of the bank’s stock worth $12,058,000 after acquiring an additional 117,758 shares during the period. Sagard Holdings Management Inc. purchased a new position in Toronto Dominion Bank in the second quarter valued at $324,000. Natixis raised its position in shares of Toronto Dominion Bank by 5.7% in the second quarter. Natixis now owns 30,858 shares of the bank’s stock worth $2,267,000 after acquiring an additional 1,662 shares during the period. Qtron Investments LLC purchased a new stake in shares of Toronto Dominion Bank during the 2nd quarter worth about $504,000. Finally, Cresset Asset Management LLC acquired a new stake in shares of Toronto Dominion Bank during the 2nd quarter valued at about $211,000. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Toronto Dominion Bank Price Performance

Shares of NYSE TD opened at $88.16 on Tuesday. The stock has a market capitalization of $148.94 billion, a price-to-earnings ratio of 10.47, a price-to-earnings-growth ratio of 1.44 and a beta of 0.69. Toronto Dominion Bank has a 52 week low of $51.25 and a 52 week high of $88.79. The firm has a 50-day simple moving average of $81.68 and a 200-day simple moving average of $76.46. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.09.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings data on Thursday, December 4th. The bank reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.10. Toronto Dominion Bank had a net margin of 16.53% and a return on equity of 13.87%. The company had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $10.10 billion. During the same quarter in the prior year, the company earned $1.72 EPS. Toronto Dominion Bank’s revenue was down .1% compared to the same quarter last year. On average, equities analysts predict that Toronto Dominion Bank will post 5.48 earnings per share for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, January 31st. Investors of record on Friday, January 9th will be given a dividend of $1.08 per share. The ex-dividend date is Friday, January 9th. This is an increase from Toronto Dominion Bank’s previous quarterly dividend of $1.05. This represents a $4.32 annualized dividend and a yield of 4.9%. Toronto Dominion Bank’s dividend payout ratio (DPR) is 35.87%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Zacks Research cut Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. Wall Street Zen raised Toronto Dominion Bank from a “sell” rating to a “hold” rating in a research note on Saturday, November 15th. Weiss Ratings reissued a “buy (b)” rating on shares of Toronto Dominion Bank in a research note on Wednesday, October 8th. Jefferies Financial Group lowered shares of Toronto Dominion Bank from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Finally, Desjardins raised shares of Toronto Dominion Bank from a “hold” rating to a “buy” rating in a report on Wednesday, August 13th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Toronto Dominion Bank currently has an average rating of “Moderate Buy” 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.