Invesco Ltd. Decreases Stock Holdings in Toronto Dominion Bank (The) (NYSE:TD)

Key Points

• Invesco Ltd. reduced its stake in Toronto Dominion Bank by 10.6% in the first quarter, owning 4,198,793 shares valued at approximately $251.68 million.
• Toronto Dominion Bank recently increased its quarterly dividend to $0.7568, resulting in an annualized yield of 4.1% and a payout ratio of 45.31%.
• The bank reported earnings of $1.39 per share for the last quarter, exceeding analyst estimates by $0.14, despite a revenue shortfall against expectations.

Invesco Ltd. cut its stake in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 10.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,198,793 shares of the bank's stock after selling 495,346 shares during the quarter. Invesco Ltd. owned approximately 0.24% of Toronto Dominion Bank worth $251,676,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of TD. Balanced Rock Investment Advisors LLC raised its position in shares of Toronto Dominion Bank by 1.1% in the first quarter. Balanced Rock Investment Advisors LLC now owns 14,983 shares of the bank's stock worth $898,000 after acquiring an additional 163 shares during the period. MFA Wealth Services raised its position in shares of Toronto Dominion Bank by 4.5% in the first quarter. MFA Wealth Services now owns 4,179 shares of the bank's stock worth $250,000 after acquiring an additional 179 shares during the period. Hexagon Capital Partners LLC raised its position in shares of Toronto Dominion Bank by 14.5% in the first quarter. Hexagon Capital Partners LLC now owns 1,500 shares of the bank's stock worth $90,000 after acquiring an additional 190 shares during the period. JFS Wealth Advisors LLC raised its position in shares of Toronto Dominion Bank by 6.0% in the first quarter. JFS Wealth Advisors LLC now owns 3,421 shares of the bank's stock worth $205,000 after acquiring an additional 194 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of Toronto Dominion Bank by 14.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,619 shares of the bank's stock worth $97,000 after acquiring an additional 202 shares during the period. 52.37% of the stock is owned by hedge funds and other institutional investors.

Toronto Dominion Bank Trading Down 0.6%

Shares of Toronto Dominion Bank stock traded down $0.44 during mid-day trading on Friday, hitting $74.08. The stock had a trading volume of 1,167,136 shares, compared to its average volume of 2,121,745. The firm has a 50-day moving average of $73.03 and a two-hundred day moving average of $65.27. Toronto Dominion Bank has a 12-month low of $51.25 and a 12-month high of $75.58. 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 $127.06 billion, a P/E ratio of 10.86, a price-to-earnings-growth ratio of 1.68 and a beta of 0.84.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last posted its quarterly earnings data on Thursday, May 22nd. The bank reported $1.39 earnings per share for the quarter, topping analysts' consensus estimates of $1.25 by $0.14. The firm had revenue of $10.97 billion during the quarter, compared to analysts' expectations 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 quarter last year, the company posted $2.04 EPS. Sell-side analysts forecast that Toronto Dominion Bank will post 5.48 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

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

Wall Street Analysts Forecast Growth

TD has been the subject of a number of research reports. Royal Bank Of Canada boosted their target price on shares of 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. Scotiabank started coverage on shares of Toronto Dominion Bank in a research report on Thursday, May 15th. They set a "sector perform" rating for the company. Desjardins raised shares of Toronto Dominion Bank from a "hold" rating to a "buy" rating in a research note on Wednesday. Finally, Wall Street Zen raised shares of Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research note on Saturday, May 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $93.00.

Toronto Dominion Bank Company 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.