Korea Investment CORP Reduces Stake in Toronto Dominion Bank (The) $TD

Key Points

• Korea Investment CORP has reduced its stake in Toronto Dominion Bank by 6.4%, holding approximately 1,088,297 shares valued at $65,203,000 after selling 74,300 shares in the first quarter.
• Multiple institutional investors have increased their holdings in Toronto Dominion Bank, with notable increases from Balanced Rock Investment Advisors and MassMutual Private Wealth & Trust.
• The bank recently increased its quarterly dividend to $0.7568, resulting in an annualized dividend yield of 4.1%.

Korea Investment CORP reduced its holdings in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 6.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,088,297 shares of the bank's stock after selling 74,300 shares during the quarter. Korea Investment CORP owned about 0.06% of Toronto Dominion Bank worth $65,203,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

Several research firms have issued reports on TD. Scotiabank began coverage on shares of Toronto Dominion Bank in a research note on Thursday, May 15th. They issued a "sector perform" rating on the stock. Royal Bank Of Canada increased 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. Desjardins upgraded shares of Toronto Dominion Bank from a "hold" rating to a "buy" rating in a research note on Wednesday, August 13th. Finally, Wall Street Zen upgraded 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 given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Toronto Dominion Bank has an average rating of "Hold" and a consensus target price of $93.00.

Toronto Dominion Bank Price Performance

Shares of NYSE:TD opened at $73.91 on Tuesday. The company's fifty day moving average price is $73.18 and its 200-day moving average price is $65.61. The firm has a market capitalization of $126.77 billion, a price-to-earnings ratio of 10.84, a PEG ratio of 1.62 and a beta of 0.84. Toronto Dominion Bank has a one year low of $51.25 and a one year high of $75.58. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.03 and a quick ratio of 1.03.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last issued its quarterly earnings results on Thursday, May 22nd. The bank reported $1.39 EPS for the quarter, topping analysts' consensus estimates of $1.25 by $0.14. The firm had revenue of $10.97 billion for the quarter, compared to analyst estimates 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 in the prior year, the firm earned $2.04 EPS. On average, equities research analysts anticipate that Toronto Dominion Bank will post 5.48 earnings per share for the current fiscal year.

Toronto Dominion Bank Increases Dividend

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

About Toronto Dominion Bank

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.

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