Bank of Nova Scotia Sells 3,256,242 Shares of Toronto Dominion Bank (The) $TD

Bank of Nova Scotia decreased its position in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 15.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,252,231 shares of the bank’s stock after selling 3,256,242 shares during the period. Toronto Dominion Bank comprises 2.6% of Bank of Nova Scotia’s investment portfolio, making the stock its 6th biggest position. Bank of Nova Scotia’s holdings in Toronto Dominion Bank were worth $1,459,570,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Toronto Dominion Bank by 3.4% during the 2nd quarter. Vanguard Group Inc. now owns 77,187,442 shares of the bank’s stock worth $5,677,291,000 after acquiring an additional 2,552,603 shares in the last quarter. TD Asset Management Inc increased its stake in shares of Toronto Dominion Bank by 0.7% in the 3rd quarter. TD Asset Management Inc now owns 37,612,007 shares of the bank’s stock valued at $3,008,096,000 after purchasing an additional 246,999 shares in the last quarter. 1832 Asset Management L.P. raised its holdings in Toronto Dominion Bank by 0.5% in the 2nd quarter. 1832 Asset Management L.P. now owns 22,548,848 shares of the bank’s stock worth $1,656,213,000 after purchasing an additional 101,678 shares during the period. Canerector Inc. raised its holdings in Toronto Dominion Bank by 11,028.0% in the 3rd quarter. Canerector Inc. now owns 22,256,000 shares of the bank’s stock worth $1,779,367,000 after purchasing an additional 22,056,000 shares during the period. Finally, Norges Bank purchased a new position in Toronto Dominion Bank during the second quarter worth approximately $1,543,639,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on TD. Jefferies Financial Group lowered Toronto Dominion Bank from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Zacks Research raised Toronto Dominion Bank from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 18th. Canadian Imperial Bank of Commerce cut shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 12th. Raymond James Financial raised shares of Toronto Dominion Bank to a “hold” rating in a report on Monday, November 24th. Finally, National Bank Financial upgraded shares of Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research report on Thursday, December 18th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Toronto Dominion Bank has a consensus rating of “Moderate Buy” and a consensus price target of $93.00.

Toronto Dominion Bank Price Performance

NYSE:TD opened at $93.22 on Friday. The stock has a 50 day moving average of $95.48 and a two-hundred day moving average of $87.18. Toronto Dominion Bank has a 12 month low of $54.87 and a 12 month high of $99.84. The firm has a market cap of $155.80 billion, a P/E ratio of 10.30, a price-to-earnings-growth ratio of 1.06 and a beta of 0.66. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.09.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last released its earnings results on Thursday, February 26th. The bank reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.13. The business had revenue of $11.01 billion for the quarter, compared to the consensus estimate of $10.43 billion. Toronto Dominion Bank had a return on equity of 14.29% and a net margin of 17.52%.The business’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.02 earnings per share. On average, analysts expect that Toronto Dominion Bank will post 5.48 earnings per share for the current fiscal year.

Toronto Dominion Bank Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 9th will be issued a $1.08 dividend. The ex-dividend date is Thursday, April 9th. This represents a $4.32 dividend on an annualized basis and a yield of 4.6%. Toronto Dominion Bank’s dividend payout ratio (DPR) is presently 34.81%.

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.