Bank of New York Mellon Corp lowered its position in The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD by 3.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,475,815 shares of the bank's stock after selling 46,692 shares during the period. Bank of New York Mellon Corp owned 0.08% of Toronto-Dominion Bank worth $81,111,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Mather Group LLC. acquired a new stake in shares of Toronto-Dominion Bank in the first quarter worth about $29,000. LifeSteps Financial Inc. acquired a new stake in Toronto-Dominion Bank in the 1st quarter worth approximately $30,000. Triad Wealth Partners LLC bought a new stake in Toronto-Dominion Bank during the second quarter worth approximately $31,000. Blue Trust Inc. grew its holdings in Toronto-Dominion Bank by 50.7% during the second quarter. Blue Trust Inc. now owns 630 shares of the bank's stock valued at $38,000 after purchasing an additional 212 shares during the last quarter. Finally, Optiver Holding B.V. bought a new position in shares of Toronto-Dominion Bank in the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 52.37% of the company's stock.
Analyst Ratings Changes
Several research analysts have recently issued reports on the stock. National Bank Financial upgraded shares of Toronto-Dominion Bank from an "underperform" rating to a "sector perform" rating in a report on Thursday, August 22nd. Cibc World Mkts raised Toronto-Dominion Bank from a "hold" rating to a "strong-buy" rating in a research report on Friday, May 24th. BMO Capital Markets decreased their target price on shares of Toronto-Dominion Bank from $86.00 to $84.00 and set a "market perform" rating on the stock in a research report on Friday, May 24th. StockNews.com lowered shares of Toronto-Dominion Bank from a "hold" rating to a "sell" rating in a research report on Thursday, August 22nd. Finally, UBS Group started coverage on Toronto-Dominion Bank in a report on Tuesday, July 2nd. They set a "neutral" rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Toronto-Dominion Bank presently has an average rating of "Hold" and an average target price of $84.00.
Get Our Latest Stock Report on TD
Toronto-Dominion Bank Price Performance
Shares of NYSE:TD traded up $0.47 during trading on Friday, reaching $59.92. The stock had a trading volume of 1,088,847 shares, compared to its average volume of 2,734,247. The stock has a market capitalization of $104.76 billion, a PE ratio of 13.62, a P/E/G ratio of 1.72 and a beta of 0.82. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.02 and a quick ratio of 1.02. The Toronto-Dominion Bank has a 52 week low of $53.52 and a 52 week high of $65.12. The business's 50-day moving average price is $57.24 and its 200 day moving average price is $57.68.
Toronto-Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last announced its earnings results on Thursday, August 22nd. The bank reported $2.05 EPS for the quarter, topping the consensus estimate of $1.49 by $0.56. The company had revenue of $14.18 billion for the quarter, compared to analysts' expectations of $9.40 billion. Toronto-Dominion Bank had a return on equity of 14.34% and a net margin of 6.94%. The business's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.48 earnings per share. As a group, equities analysts predict that The Toronto-Dominion Bank will post 5.85 earnings per share for the current year.
Toronto-Dominion Bank Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.739 per share. The ex-dividend date is Thursday, October 10th. This represents a $2.96 annualized dividend and a dividend yield of 4.93%. Toronto-Dominion Bank's dividend payout ratio (DPR) is currently 67.73%.
About Toronto-Dominion Bank
(Free Report)
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.
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