32,830 Toronto Dominion Bank (The) $TD Shares Sold by Montrusco Bolton Investments Inc.

Key Points

• Montrusco Bolton Investments reduced its Toronto-Dominion Bank stake by 10.3%, selling 32,830 shares and retaining 284,911 shares valued at approximately $33.6 million.
• Institutional investors own 52.37% of TD, while analysts maintain a “Moderate Buy” consensus rating with a $148 average price target.
• TD recently exceeded quarterly earnings and revenue expectations and declared a quarterly dividend of C$1.12, equivalent to an annualized yield of about 3.8%.

Montrusco Bolton Investments Inc. lessened its position in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 10.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 284,911 shares of the bank's stock after selling 32,830 shares during the quarter. Montrusco Bolton Investments Inc.'s holdings in Toronto Dominion Bank were worth $33,579,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TD. Auto Owners Insurance Co grew its position in shares of Toronto Dominion Bank by 9,320.0% during the 4th quarter. Auto Owners Insurance Co now owns 3,965,443 shares of the bank's stock valued at $396,544,000 after acquiring an additional 3,923,347 shares during the period. Alberta Investment Management Corp acquired a new position in Toronto Dominion Bank in the 4th quarter worth about $299,850,000. Bank of New York Mellon Corp purchased a new position in Toronto Dominion Bank during the second quarter worth approximately $202,900,000. SEB Asset Management AB purchased a new position in Toronto Dominion Bank during the first quarter worth approximately $139,123,000. Finally, State of Wisconsin Investment Board purchased a new position in Toronto Dominion Bank during the fourth quarter worth approximately $59,885,000. Institutional investors and hedge funds own 52.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on TD shares. Weiss Ratings upgraded Toronto Dominion Bank from a "buy (b)" rating to a "buy (b+)" rating in a research report on Monday, September 28th. Keefe, Bruyette & Woods assumed coverage on Toronto Dominion Bank in a research note on Friday, August 21st. They set a "market perform" rating for the company. Finally, Wall Street Zen upgraded Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research report on Saturday, August 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $148.00.

Toronto Dominion Bank Price Performance

TD traded up $1.56 on Tuesday, hitting $118.05. 1,115,000 shares of the company's stock were exchanged, compared to its average volume of 2,382,319. The firm has a 50-day moving average price of $120.03 and a 200-day moving average price of $114.68. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.09. The stock has a market cap of $194.17 billion, a price-to-earnings ratio of 17.54, a P/E/G ratio of 1.14 and a beta of 0.75. Toronto Dominion Bank has a fifty-two week low of $77.95 and a fifty-two week high of $125.46.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last posted its quarterly earnings results on Thursday, August 27th. The bank reported $1.98 earnings per share for the quarter, topping analysts' consensus estimates of $1.74 by $0.24. The firm had revenue of $12.07 billion for the quarter, compared to analyst estimates of $10.70 billion. Toronto Dominion Bank had a net margin of 14.41% and a return on equity of 14.88%. Toronto Dominion Bank's quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the business posted $2.20 earnings per share. As a group, equities analysts anticipate that Toronto Dominion Bank will post 7.04 earnings per share for the current year.

Toronto Dominion Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, October 31st. Stockholders of record on Friday, October 9th will be given a C$1.12 dividend. The ex-dividend date is Friday, October 9th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.8%. Toronto Dominion Bank's dividend payout ratio is 46.81%.

Toronto Dominion Bank Profile

Toronto-Dominion Bank, operating as TD Bank Group, is a Canadian financial services company headquartered in Toronto, Ontario. The bank was formed in 1955 through the merger of The Bank of Toronto and The Dominion Bank and serves customers in Canada and the United States.

TD provides a broad range of banking and financial services, including personal and commercial deposit accounts, lending, mortgages, credit cards, payments, investment products and financial advice. Its Canadian operations serve individuals, businesses and institutions, while its U.S.

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