Charles Schwab Investment Management Inc. Trims Stock Position in Toronto Dominion Bank (The) (NYSE:TD)

Key Points

• Charles Schwab Investment Management Inc. reduced its holdings in Toronto Dominion Bank by 3.6%, now owning 4,882,718 shares valued at approximately $292.5 million.
• Several institutional investors, including Vanguard Group Inc. and Goldman Sachs Group Inc., increased their stakes in Toronto Dominion Bank during the same quarter, showcasing bullish confidence in the bank.
• Toronto Dominion Bank declared a quarterly dividend of $0.7568 per share, increasing its annualized dividend to $3.03, with a yield of 4.1%.

Charles Schwab Investment Management Inc. cut its position in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 3.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,882,718 shares of the bank's stock after selling 184,363 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.28% of Toronto Dominion Bank worth $292,541,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TD. Invesco Ltd. grew its position in Toronto Dominion Bank by 6.8% during the 4th quarter. Invesco Ltd. now owns 4,694,139 shares of the bank's stock worth $249,916,000 after purchasing an additional 299,689 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Toronto Dominion Bank by 19.2% in the 4th quarter. Renaissance Technologies LLC now owns 738,580 shares of the bank's stock worth $39,322,000 after buying an additional 119,000 shares during the period. Raymond James Financial Inc. acquired a new position in Toronto Dominion Bank in the 4th quarter worth approximately $7,865,000. Guggenheim Capital LLC increased its holdings in Toronto Dominion Bank by 40.9% in the 4th quarter. Guggenheim Capital LLC now owns 6,771 shares of the bank's stock worth $360,000 after buying an additional 1,966 shares during the period. Finally, Bridgewater Associates LP increased its holdings in Toronto Dominion Bank by 280.2% in the 4th quarter. Bridgewater Associates LP now owns 210,583 shares of the bank's stock worth $11,206,000 after buying an additional 155,197 shares during the period. 52.37% of the stock is currently owned by institutional investors.

Toronto Dominion Bank Price Performance

Shares of Toronto Dominion Bank stock traded up $0.17 during mid-day trading on Tuesday, reaching $73.25. 1,153,396 shares of the stock traded hands, compared to its average volume of 2,128,199. The business has a 50-day moving average of $72.78 and a 200 day moving average of $65.03. Toronto Dominion Bank has a fifty-two week low of $51.25 and a fifty-two week high of $75.58. The stock has a market capitalization of $125.64 billion, a PE ratio of 10.74, a PEG ratio of 1.66 and a beta of 0.84. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.09.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last posted its quarterly earnings results on Thursday, May 22nd. The bank reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.14. The firm had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $13.36 billion. Toronto Dominion Bank had a net margin of 13.53% and a return on equity of 13.11%. During the same period last year, the firm posted $2.04 earnings per share. On average, analysts predict that Toronto Dominion Bank will post 5.48 EPS for the current year.

Toronto Dominion Bank Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 10th were paid a $0.7568 dividend. This is an increase from Toronto Dominion Bank's previous quarterly dividend of $0.73. This represents a $3.03 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Thursday, July 10th. Toronto Dominion Bank's payout ratio is 45.31%.

Wall Street Analysts Forecast Growth

TD has been the topic of several research reports. Wall Street Zen upgraded shares of Toronto Dominion Bank from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. Scotiabank initiated coverage on shares of Toronto Dominion Bank in a report on Thursday, May 15th. They issued a "sector perform" rating on the stock. Finally, Royal Bank Of Canada upped their target price on Toronto Dominion Bank from $87.00 to $93.00 and gave the stock a "sector perform" rating in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Toronto Dominion Bank presently has an average rating of "Hold" and a consensus target price of $93.00.

Toronto Dominion Bank Profile

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.