Louisbourg Investments Inc. Sells 68,684 Shares of The Toronto-Dominion Bank (NYSE:TD)

Louisbourg Investments Inc. reduced its stake in The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD by 35.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 123,343 shares of the bank's stock after selling 68,684 shares during the period. Toronto-Dominion Bank makes up about 1.8% of Louisbourg Investments Inc.'s holdings, making the stock its 9th largest holding. Louisbourg Investments Inc.'s holdings in Toronto-Dominion Bank were worth $7,398,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of TD. Norges Bank acquired a new stake in shares of Toronto-Dominion Bank in the fourth quarter valued at $992,204,000. FIL Ltd raised its stake in shares of Toronto-Dominion Bank by 17.3% in the fourth quarter. FIL Ltd now owns 38,989,749 shares of the bank's stock valued at $2,075,819,000 after acquiring an additional 5,756,584 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of 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 valued at $569,878,000 after acquiring an additional 2,564,648 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of Toronto-Dominion Bank by 5.6% in the fourth quarter. Mackenzie Financial Corp now owns 27,990,674 shares of the bank's stock valued at $1,488,233,000 after acquiring an additional 1,491,472 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Toronto-Dominion Bank by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 74,118,551 shares of the bank's stock valued at $3,946,072,000 after acquiring an additional 1,415,934 shares in the last quarter. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Toronto-Dominion Bank Stock Up 0.3%

TD opened at $71.04 on Tuesday. The business's 50-day simple moving average is $64.76 and its 200-day simple moving average is $59.66. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.03 and a current ratio of 1.03. The Toronto-Dominion Bank has a one year low of $51.25 and a one year high of $71.48. The stock has a market capitalization of $122.39 billion, a P/E ratio of 20.47, a price-to-earnings-growth ratio of 1.95 and a beta of 0.82.

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 analysts' consensus estimates of $1.25 by $0.14. Toronto-Dominion Bank had a return on equity of 13.96% and a net margin of 7.37%. The business had revenue of $10.97 billion for the quarter, compared to analysts' expectations of $13.36 billion. During the same quarter in the previous year, the firm earned $2.04 earnings per share. Analysts anticipate that The Toronto-Dominion Bank will post 5.48 EPS for the current year.

Toronto-Dominion Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 10th will be issued a dividend of $0.7568 per share. The ex-dividend date is Thursday, July 10th. This represents a $3.03 dividend on an annualized basis and a dividend yield of 4.26%. This is a positive change from Toronto-Dominion Bank's previous quarterly dividend of $0.73. Toronto-Dominion Bank's dividend payout ratio (DPR) is currently 44.72%.

Analyst Upgrades and Downgrades

TD has been the topic of a number of analyst reports. Wall Street Zen upgraded Toronto-Dominion Bank from a "sell" rating to a "hold" rating in a research note on Saturday, May 24th. Jefferies Financial Group cut Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Royal Bank of Canada raised their price target on Toronto-Dominion Bank from $87.00 to $93.00 and gave the company a "sector perform" rating in a research note on Friday, May 23rd. Finally, Scotiabank initiated coverage on Toronto-Dominion Bank in a research note on Thursday, May 15th. They issued a "sector perform" rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently 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.

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