CMH Wealth Management LLC Sells 8,615 Shares of Toronto Dominion Bank (The) $TD

Key Points

• CMH Wealth Management reduced its Toronto-Dominion Bank stake by 34.1% in the third quarter, selling 8,615 shares and retaining 16,645 shares valued at approximately $1.96 million.
• Institutional ownership remains significant, with hedge funds and other institutional investors holding 52.37% of TD’s stock. Several major investors recently initiated or increased positions.
• TD reported quarterly EPS of $1.98, beating estimates of $1.74, while revenue rose 6.9% year over year to $12.07 billion. The bank also announced a C$1.12 quarterly dividend, representing a 3.6% annualized yield.

CMH Wealth Management LLC decreased its position in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 34.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,645 shares of the bank's stock after selling 8,615 shares during the quarter. CMH Wealth Management LLC's holdings in Toronto Dominion Bank were worth $1,956,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Bank of New York Mellon Corp purchased a new position in Toronto Dominion Bank during the 2nd quarter worth $202,900,000. SEB Asset Management AB purchased a new position in Toronto Dominion Bank during the 1st quarter worth approximately $139,123,000. Public Employees Retirement System of Ohio acquired a new position in Toronto Dominion Bank during the second quarter valued at $74,503,000. Dimensional Fund Advisors LP lifted its holdings in shares of Toronto Dominion Bank by 8.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,565,982 shares of the bank's stock valued at $705,950,000 after buying an additional 589,316 shares during the period. Finally, Nykredit A S purchased a new stake in Toronto Dominion Bank in the 2nd quarter worth approximately $46,808,000. Hedge funds and other institutional investors own 52.37% of the company's stock.

Toronto Dominion Bank Stock Performance

Toronto Dominion Bank stock opened at $125.05 on Friday. Toronto Dominion Bank has a one year low of $79.52 and a one year high of $125.64. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $205.68 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 1.24 and a beta of 0.75. The stock's 50 day moving average price is $119.96 and its 200 day moving average price is $116.06.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last issued its earnings results on Thursday, August 27th. The bank reported $1.98 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $12.07 billion for the quarter, compared to analyst estimates of $10.70 billion. During the same quarter in the prior year, the business posted $2.20 EPS. The company's revenue for the quarter was up 6.9% on a year-over-year basis. As a group, sell-side analysts expect that Toronto Dominion Bank will post 7.04 EPS for the current fiscal year.

Toronto Dominion Bank Dividend Announcement

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

Analyst Ratings Changes

TD has been the subject of several recent research reports. Wall Street Zen raised Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research note on Saturday, August 22nd. 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 on the stock. Finally, Weiss Ratings raised Toronto Dominion Bank from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Toronto Dominion Bank has a consensus rating of "Moderate Buy" and a consensus target price of $148.00.

About Toronto Dominion Bank

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.

Want to see what other hedge funds are holding TD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.