Renaissance Technologies LLC Cuts Stock Position in Toronto Dominion Bank (The) $TD

Renaissance Technologies LLC cut its stake in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 81.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 96,180 shares of the bank’s stock after selling 431,900 shares during the quarter. Renaissance Technologies LLC’s holdings in Toronto Dominion Bank were worth $8,975,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TD. Vanguard Group Inc. increased its stake in Toronto Dominion Bank by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 77,252,688 shares of the bank’s stock valued at $7,280,911,000 after buying an additional 765,107 shares during the period. Norges Bank acquired a new stake in shares of Toronto Dominion Bank in the 4th quarter worth $2,125,963,000. Bank of Nova Scotia boosted its holdings in shares of Toronto Dominion Bank by 6.8% in the fourth quarter. Bank of Nova Scotia now owns 19,486,741 shares of the bank’s stock valued at $1,836,518,000 after acquiring an additional 1,234,510 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Toronto Dominion Bank by 10.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 17,014,836 shares of the bank’s stock valued at $1,606,978,000 after acquiring an additional 1,629,062 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Toronto Dominion Bank by 6.1% during the fourth quarter. Geode Capital Management LLC now owns 16,747,071 shares of the bank’s stock worth $1,610,733,000 after acquiring an additional 968,122 shares during the period. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TD. Zacks Research cut shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Scotiabank raised Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Monday, May 4th. Royal Bank Of Canada boosted their target price on Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Wall Street Zen downgraded Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Finally, Raymond James Financial raised Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $156.00.

Toronto Dominion Bank Stock Performance

Shares of TD stock opened at $119.86 on Monday. The stock has a fifty day moving average price of $118.24 and a 200 day moving average price of $105.65. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market cap of $197.14 billion, a PE ratio of 18.70, a P/E/G ratio of 1.34 and a beta of 0.72. Toronto Dominion Bank has a 1 year low of $72.21 and a 1 year high of $124.87.

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

Toronto Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 10th were issued a dividend of $1.12 per share. This is an increase from Toronto Dominion Bank’s previous quarterly dividend of $1.08. The ex-dividend date was Friday, July 10th. This represents a $4.48 annualized dividend and a yield of 3.7%. Toronto Dominion Bank’s payout ratio is 49.14%.

Toronto Dominion Bank Profile

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.