Lombard Odier Asset Management Switzerland SA Sells 22,662 Shares of Toronto Dominion Bank (The) $TD

Lombard Odier Asset Management Switzerland SA lessened its holdings in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 16.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 113,772 shares of the bank’s stock after selling 22,662 shares during the period. Lombard Odier Asset Management Switzerland SA’s holdings in Toronto Dominion Bank were worth $10,723,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd grew 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 purchasing an additional 168 shares during the period. CBIZ Investment Advisory Services LLC bought a new stake in shares of Toronto Dominion Bank in the 4th quarter valued at approximately $34,000. Smartleaf Asset Management LLC grew its stake in shares of Toronto Dominion Bank by 660.9% in the 2nd quarter. Smartleaf Asset Management LLC now owns 525 shares of the bank’s stock valued at $38,000 after purchasing an additional 456 shares during the period. Cornerstone Planning Group LLC grew its stake in shares of Toronto Dominion Bank by 177.9% in the 4th quarter. Cornerstone Planning Group LLC now owns 428 shares of the bank’s stock valued at $40,000 after purchasing an additional 274 shares during the period. Finally, Sound Income Strategies LLC grew its stake in shares of Toronto Dominion Bank by 80.6% in the 4th quarter. Sound Income Strategies LLC now owns 466 shares of the bank’s stock valued at $44,000 after purchasing an additional 208 shares during the period. Institutional investors own 52.37% of the company’s stock.

Analysts Set New Price Targets

TD has been the topic of several analyst reports. Wall Street Zen lowered Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Weiss Ratings lowered shares of Toronto Dominion Bank from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, June 11th. Raymond James Financial raised shares of Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 12th. Zacks Research lowered shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Finally, Scotiabank raised shares of Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $156.00.

Toronto Dominion Bank Stock Up 0.8%

NYSE TD opened at $118.24 on Wednesday. Toronto Dominion Bank has a one year low of $70.50 and a one year high of $118.60. The stock’s 50 day simple moving average is $108.33 and its 200 day simple moving average is $98.92. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market cap of $195.39 billion, a PE ratio of 18.45, a price-to-earnings-growth ratio of 1.30 and a beta of 0.72.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings data on Thursday, May 28th. The bank reported $1.74 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.11. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. The firm had revenue of $11.80 billion for the quarter, compared to analyst estimates of $11.04 billion. During the same quarter in the prior year, the firm earned $1.97 EPS. The company’s revenue was down 31.1% on a year-over-year basis. As a group, sell-side analysts forecast that Toronto Dominion Bank will post 6.92 earnings per share for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 10th will be issued a dividend of $1.12 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a $4.48 dividend on an annualized basis and a yield of 3.8%. This is an increase from Toronto Dominion Bank’s previous quarterly dividend of $1.08. Toronto Dominion Bank’s payout ratio is currently 48.52%.

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.