Toronto Dominion Bank (The) $TD Stake Lowered by Letko Brosseau & Associates Inc.

Letko Brosseau & Associates Inc. lowered its holdings in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 19.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,922,735 shares of the bank’s stock after selling 470,947 shares during the period. Toronto Dominion Bank comprises 2.9% of Letko Brosseau & Associates Inc.’s portfolio, making the stock its 7th largest position. Letko Brosseau & Associates Inc. owned 0.12% of Toronto Dominion Bank worth $226,611,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ritholtz Wealth Management increased its holdings in Toronto Dominion Bank by 10.9% during the 3rd quarter. Ritholtz Wealth Management now owns 14,993 shares of the bank’s stock worth $1,762,000 after purchasing an additional 1,474 shares during the last quarter. Jacobi Capital Management LLC boosted its stake in shares of Toronto Dominion Bank by 4.6% during the 3rd quarter. Jacobi Capital Management LLC now owns 2,724 shares of the bank’s stock valued at $320,000 after buying an additional 120 shares during the last quarter. Lido Advisors LLC boosted its stake in shares of Toronto Dominion Bank by 31.1% during the 3rd quarter. Lido Advisors LLC now owns 2,566 shares of the bank’s stock valued at $302,000 after buying an additional 608 shares during the last quarter. Keybank National Association OH grew its position in shares of Toronto Dominion Bank by 2.7% during the third quarter. Keybank National Association OH now owns 20,519 shares of the bank’s stock worth $2,412,000 after buying an additional 533 shares in the last quarter. Finally, AlphaCore Capital LLC grew its position in shares of Toronto Dominion Bank by 12.3% during the third quarter. AlphaCore Capital LLC now owns 2,100 shares of the bank’s stock worth $247,000 after buying an additional 230 shares in the last quarter. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Wall Street Analyst Weigh In

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

Toronto Dominion Bank Stock Down 0.3%

Shares of Toronto Dominion Bank stock opened at $123.89 on Friday. 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 firm has a market cap of $201.15 billion, a P/E ratio of 17.63, a P/E/G ratio of 1.14 and a beta of 0.72. Toronto Dominion Bank has a fifty-two week low of $80.23 and a fifty-two week high of $128.79. The business has a 50-day moving average price of $121.34 and a 200 day moving average price of $111.82.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last released its earnings results on Thursday, August 27th. The bank reported $1.98 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.24. Toronto Dominion Bank had a return on equity of 14.88% and a net margin of 14.41%. The company had revenue of $12.07 billion for the quarter, compared to the consensus estimate of $10.70 billion. During the same quarter last year, the business posted $2.20 EPS. Toronto Dominion Bank’s quarterly revenue was up 6.9% compared to the same quarter last year. On average, sell-side analysts forecast that Toronto Dominion Bank will post 6.98 earnings per share for the current fiscal year.

Toronto Dominion Bank Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, October 31st. Investors of record on Friday, October 9th were given a dividend of C$1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Friday, October 9th. Toronto Dominion Bank’s dividend payout ratio is currently 46.81%.

Toronto Dominion Bank declared that its Board of Directors has initiated a stock buyback program on Wednesday, September 30th that permits the company to buy back $7.14 billion in shares. This buyback authorization permits the bank to repurchase up to 3.5% of its shares through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Toronto Dominion Bank Company Profile

The Toronto-Dominion Bank, commonly known as TD Bank Group, is a Canadian financial services company serving personal, business, corporate and institutional clients. Its services include everyday banking, deposits, mortgages and other lending, credit cards, wealth management, insurance and capital markets services. TD operates primarily in Canada and the United States through businesses that include TD Canada Trust, TD Bank and TD Securities. It also provides investment and wealth-management services through its TD Wealth businesses.