11,275 Toronto Dominion Bank (The) $TD Shares Sold by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. decreased its position in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 38.2% during the 3rd quarter, Holdings Channel reports. The fund owned 18,232 shares of the bank’s stock after selling 11,275 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Toronto Dominion Bank were worth $2,143,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its holdings in Toronto Dominion Bank by 8.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 7,565,982 shares of the bank’s stock worth $705,950,000 after acquiring an additional 589,316 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Toronto Dominion Bank by 7.8% in the 1st quarter. Bank of America Corp DE now owns 4,967,545 shares of the bank’s stock valued at $463,522,000 after purchasing an additional 358,412 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Toronto Dominion Bank during the 2nd quarter worth $202,900,000. SEB Asset Management AB purchased a new stake in shares of Toronto Dominion Bank during the 1st quarter worth $139,123,000. Finally, Hillsdale Investment Management Inc. lifted its position in shares of Toronto Dominion Bank by 3.0% during the 1st quarter. Hillsdale Investment Management Inc. now owns 1,201,500 shares of the bank’s stock worth $112,185,000 after purchasing an additional 34,921 shares during the last quarter. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Toronto Dominion Bank Stock Performance

Shares of TD opened at $124.64 on Friday. The stock has a 50 day moving average price of $119.97 and a 200 day moving average price of $116.12. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $204.21 billion, a price-to-earnings ratio of 18.52, a price-to-earnings-growth ratio of 1.24 and a beta of 0.75. Toronto Dominion Bank has a 52-week low of $79.52 and a 52-week high of $125.64.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings results on Thursday, August 27th. The bank reported $1.98 EPS for the quarter, beating the consensus estimate of $1.74 by $0.24. Toronto Dominion Bank had a net margin of 14.41% and a return on equity of 14.88%. The company had revenue of $12.07 billion for the quarter, compared to analyst estimates of $10.70 billion. During the same period in the prior year, the firm posted $2.20 earnings per share. The firm’s revenue was up 6.9% on a year-over-year basis. Research analysts predict that Toronto Dominion Bank will post 7.04 EPS for the current fiscal year.

Toronto Dominion Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, October 31st. Stockholders of record on Friday, October 9th will be issued a C$1.12 dividend. The ex-dividend date is Friday, October 9th. This represents a $4.48 annualized dividend and a dividend yield of 3.6%. Toronto Dominion Bank’s dividend payout ratio is presently 46.81%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Keefe, Bruyette & Woods began coverage on shares of Toronto Dominion Bank in a research note on Friday, August 21st. They set a “market perform” rating for the company. Wall Street Zen upgraded Toronto Dominion Bank from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd. Finally, Weiss Ratings raised Toronto Dominion Bank from a “buy (b+)” rating to a “buy (a-)” rating in a report on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $148.00.

Toronto Dominion Bank Profile

Toronto-Dominion Bank, operating as TD Bank Group, is a Canadian financial services company headquartered in Toronto, Ontario. The institution traces its history to the Bank of Toronto, founded in 1855, and the Dominion Bank, founded in 1869; the two banks merged in 1955 to form Toronto-Dominion Bank.

TD provides a broad range of banking and financial services through its Canadian and U.S. operations. Its offerings include personal and business deposit accounts, mortgages, consumer and commercial lending, credit cards, investment products, insurance, wealth management and financial advice.