Fiera Capital Corp Sells 3,116,986 Shares of Toronto Dominion Bank (The) (NYSE:TD)

Key Points

• Fiera Capital Corp has reduced its stake in Toronto Dominion Bank by 78.7%, selling over 3 million shares and now holding around 844,061 shares valued at approximately $50.6 million.
• Several institutional investors, including Oppenheimer & Co. Inc. and Bank of New York Mellon Corp, have increased their stakes in Toronto Dominion Bank, indicating significant interest from the investment community.
• Toronto Dominion Bank declared a quarterly dividend of $0.7568 per share, representing a yield of 4.08%, which is an increase from its previous dividend payout.

Fiera Capital Corp trimmed its holdings in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 78.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 844,061 shares of the bank's stock after selling 3,116,986 shares during the quarter. Fiera Capital Corp's holdings in Toronto Dominion Bank were worth $50,628,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. American Century Companies Inc. increased its position in Toronto Dominion Bank by 7.0% in the fourth quarter. American Century Companies Inc. now owns 334,137 shares of the bank's stock worth $17,789,000 after buying an additional 21,927 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Toronto Dominion Bank by 43.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,139 shares of the bank's stock worth $169,000 after buying an additional 957 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in Toronto Dominion Bank by 300.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 12,238 shares of the bank's stock worth $663,000 after buying an additional 9,183 shares during the last quarter. Geode Capital Management LLC increased its position in Toronto Dominion Bank by 32.2% in the fourth quarter. Geode Capital Management LLC now owns 10,526,821 shares of the bank's stock worth $569,878,000 after buying an additional 2,564,648 shares during the last quarter. Finally, Te Ahumairangi Investment Management Ltd increased its position in Toronto Dominion Bank by 21.2% in the fourth quarter. Te Ahumairangi Investment Management Ltd now owns 63,581 shares of the bank's stock worth $3,383,000 after buying an additional 11,100 shares during the last quarter. 52.37% of the stock is owned by hedge funds and other institutional investors.

Toronto Dominion Bank Price Performance

Toronto Dominion Bank stock traded down $0.25 during midday trading on Friday, hitting $72.63. 1,330,760 shares of the company's stock were exchanged, compared to its average volume of 2,147,910. Toronto Dominion Bank has a 52-week low of $51.25 and a 52-week high of $75.58. The stock has a 50-day moving average price of $72.12 and a two-hundred day moving average price of $64.11. 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 company has a market cap of $124.57 billion, a P/E ratio of 10.65, a PEG ratio of 1.66 and a beta of 0.83.

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

Toronto Dominion Bank Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 10th were paid a dividend of $0.7568 per share. This represents a $3.03 annualized dividend and a yield of 4.2%. This is an increase from Toronto Dominion Bank's previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Thursday, July 10th. Toronto Dominion Bank's dividend payout ratio is presently 45.16%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Royal Bank Of Canada raised their target price on Toronto Dominion Bank from $87.00 to $93.00 and gave the stock a "sector perform" rating in a research report on Friday, May 23rd. Wall Street Zen upgraded Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research report on Saturday, May 24th. Finally, Scotiabank began coverage on Toronto Dominion Bank in a research report on Thursday, May 15th. They issued a "sector perform" rating for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target 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.