Louisbourg Investments Inc. Sells 49,369 Shares of Toronto Dominion Bank (The) $TD

Key Points

• Louisbourg Investments Inc. has reduced its stake in Toronto Dominion Bank by 40%, selling 49,369 shares and holding 73,974 shares worth approximately $5.43 million after the sale.
• Toronto Dominion Bank declared a quarterly dividend of $1.05 per share, an increase from the previous $0.76, representing a 5.4% yield.
• Analysts have a consensus rating of "Hold" for TD stock with a price target of $93.00, while some firms have recently upgraded their ratings on the bank.

Louisbourg Investments Inc. trimmed its stake in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 40.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,974 shares of the bank's stock after selling 49,369 shares during the period. Louisbourg Investments Inc.'s holdings in Toronto Dominion Bank were worth $5,431,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Triasima Portfolio Management inc. bought a new position in shares of Toronto Dominion Bank in the 2nd quarter worth $8,492,000. Oppenheimer & Co. Inc. increased its position in Toronto Dominion Bank by 144.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 11,532 shares of the bank's stock valued at $691,000 after buying an additional 6,818 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in Toronto Dominion Bank by 41.9% during the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,407,273 shares of the bank's stock valued at $264,134,000 after buying an additional 1,302,281 shares in the last quarter. JPMorgan Chase & Co. increased its position in Toronto Dominion Bank by 38.6% during the 1st quarter. JPMorgan Chase & Co. now owns 9,994,402 shares of the bank's stock valued at $599,064,000 after buying an additional 2,780,984 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Toronto Dominion Bank by 7.0% during the 1st quarter. Bank of New York Mellon Corp now owns 1,606,446 shares of the bank's stock valued at $96,290,000 after buying an additional 104,864 shares in the last quarter. 52.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on TD shares. Royal Bank Of Canada raised Toronto Dominion Bank from a "sector perform" rating to an "outperform" rating in a research report on Friday, October 3rd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Toronto Dominion Bank in a research report on Wednesday. Desjardins raised Toronto Dominion Bank from a "hold" rating to a "buy" rating in a research report on Wednesday, August 13th. Zacks Research lowered Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Finally, Wall Street Zen lowered Toronto Dominion Bank from a "hold" rating to a "sell" rating in a research report on Friday, September 26th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $93.00.

Toronto Dominion Bank Stock Down 1.8%

Shares of TD stock opened at $78.36 on Friday. The stock's 50-day simple moving average is $76.35 and its 200-day simple moving average is $70.32. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $133.28 billion, a PE ratio of 9.15, a P/E/G ratio of 1.64 and a beta of 0.80. Toronto Dominion Bank has a fifty-two week low of $51.25 and a fifty-two week high of $82.08.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last announced its quarterly earnings data on Thursday, August 28th. The bank reported $1.91 earnings per share for the quarter, beating analysts' consensus estimates of $1.46 by $0.45. Toronto Dominion Bank had a return on equity of 13.59% and a net margin of 16.40%.The business had revenue of $10.12 billion for the quarter, compared to analyst estimates of $13.73 billion. During the same period in the prior year, the company earned $2.05 earnings per share. The company's revenue was up 7.9% on a year-over-year basis. Equities analysts expect 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 will be paid on Friday, October 31st. Shareholders of record on Friday, October 10th will be given a dividend of $1.05 per share. This is an increase from Toronto Dominion Bank's previous quarterly dividend of $0.76. This represents a $4.20 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date is Friday, October 10th. Toronto Dominion Bank's dividend payout ratio (DPR) is currently 36.10%.

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.

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