Toronto-Dominion Bank (TD) Position Lowered by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA trimmed its stake in Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 7.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,150 shares of the bank’s stock after selling 400 shares during the period. BNP Paribas Arbitrage SA’s holdings in Toronto-Dominion Bank were worth $259,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of TD. Oxford Asset Management purchased a new position in shares of Toronto-Dominion Bank in the 1st quarter valued at $958,000. Independent Advisor Alliance grew its position in shares of Toronto-Dominion Bank by 34.5% in the 1st quarter. Independent Advisor Alliance now owns 12,170 shares of the bank’s stock valued at $606,000 after buying an additional 3,124 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of Toronto-Dominion Bank by 12.3% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 131,973 shares of the bank’s stock valued at $6,599,000 after buying an additional 14,493 shares during the last quarter. Manitou Investment Management Ltd. grew its position in shares of Toronto-Dominion Bank by 3.8% in the 1st quarter. Manitou Investment Management Ltd. now owns 48,009 shares of the bank’s stock valued at $2,400,000 after buying an additional 1,741 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of Toronto-Dominion Bank by 2.8% in the 1st quarter. Envestnet Asset Management Inc. now owns 91,565 shares of the bank’s stock valued at $4,587,000 after buying an additional 2,518 shares during the last quarter. 47.70% of the stock is currently owned by hedge funds and other institutional investors.
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TD has been the topic of a number of recent analyst reports. Royal Bank Of Canada increased their target price on shares of Toronto-Dominion Bank from $68.00 to $70.00 and gave the company a “sector perform” rating in a research report on Friday, May 26th. Zacks Investment Research raised shares of Toronto-Dominion Bank from a “sell” rating to a “hold” rating in a research report on Thursday, June 1st. BidaskClub raised shares of Toronto-Dominion Bank from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. Canaccord Genuity started coverage on shares of Toronto-Dominion Bank in a research report on Tuesday, July 18th. They set a “buy” rating on the stock. Finally, Howard Weil raised shares of Toronto-Dominion Bank to an “outperform” rating in a research report on Monday, August 21st. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Toronto-Dominion Bank currently has an average rating of “Buy” and an average target price of $64.75.
Toronto-Dominion Bank (NYSE:TD) opened at 55.95 on Friday. The stock has a market capitalization of $103.43 billion, a P/E ratio of 13.26 and a beta of 0.88. The firm’s 50-day moving average is $52.35 and its 200 day moving average is $49.95. Toronto-Dominion Bank has a 12 month low of $43.31 and a 12 month high of $56.13.
Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its earnings results on Thursday, August 31st. The bank reported $1.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.08 by $0.06. The company had revenue of $9.29 billion for the quarter, compared to analysts’ expectations of $9.05 billion. Toronto-Dominion Bank had a net margin of 28.51% and a return on equity of 15.73%. The firm’s revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.27 earnings per share. On average, equities analysts anticipate that Toronto-Dominion Bank will post $4.50 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th will be issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.40%. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Thursday, October 5th. Toronto-Dominion Bank’s dividend payout ratio is 46.37%.
Toronto-Dominion Bank announced that its Board of Directors has authorized a share buyback program on Thursday, August 31st that allows the company to buyback 20,000,000 outstanding shares. This buyback authorization allows the bank to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.
About Toronto-Dominion Bank
Toronto-Dominion Bank (the Bank) is a Canada-based bank, which operates in the North America. It is an online financial services firm, with over 10.2 million online and mobile customers. Its segments include Canadian Retail, U.S. Retail, Wholesale Banking and Corporate. The Canadian Retail segment provides a range of financial products and services to customers in the Canadian personal and commercial banking businesses.
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