Toronto Dominion Bank (The) (NYSE:TD) Shares Sold by Scotia Capital Inc.

Key Points

• Scotia Capital Inc. has reduced its stake in Toronto Dominion Bank by 2.2%, now holding approximately 10.8 million shares, which represents 3.5% of its portfolio.
• Toronto Dominion Bank has just announced a quarterly dividend increase to $0.7568 per share, with an annualized yield of 4.2% and a payout ratio of 45.31%.
• Analysts have mixed ratings for Toronto Dominion Bank, with a consensus price target of $93.00 and a current average rating of "Hold."

Scotia Capital Inc. decreased its position in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 2.2% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 10,801,856 shares of the bank's stock after selling 245,235 shares during the period. Toronto Dominion Bank accounts for approximately 3.5% of Scotia Capital Inc.'s portfolio, making the stock its 5th largest holding. Scotia Capital Inc. owned approximately 0.62% of Toronto Dominion Bank worth $647,206,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TD. FIL Ltd lifted its position in shares of Toronto Dominion Bank by 17.3% in the 4th quarter. FIL Ltd now owns 38,989,749 shares of the bank's stock worth $2,075,819,000 after buying an additional 5,756,584 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in Toronto Dominion Bank by 5.6% in the 4th 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 during the last quarter. Burgundy Asset Management Ltd. lifted its position in shares of Toronto Dominion Bank by 137.3% during the 4th quarter. Burgundy Asset Management Ltd. now owns 2,258,881 shares of the bank's stock valued at $120,143,000 after acquiring an additional 1,306,946 shares during the last quarter. Toronto Dominion Bank raised its position in Toronto Dominion Bank by 9.7% during the fourth quarter. Toronto Dominion Bank now owns 10,305,222 shares of the bank's stock valued at $547,992,000 after buying an additional 912,401 shares during the period. Finally, Canoe Financial LP purchased a new position in Toronto Dominion Bank in the first quarter valued at about $51,226,000. Institutional investors and hedge funds own 52.37% of the company's stock.

Toronto Dominion Bank Stock Down 0.4%

TD stock traded down $0.28 during midday trading on Thursday, hitting $73.16. The company's stock had a trading volume of 318,296 shares, compared to its average volume of 2,145,281. The firm has a 50-day simple moving average of $72.53 and a 200-day simple moving average of $64.59. The firm has a market capitalization of $125.48 billion, a P/E ratio of 10.73, a PEG ratio of 1.65 and a beta of 0.84. Toronto Dominion Bank has a 52-week low of $51.25 and a 52-week 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.

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, beating analysts' consensus estimates 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 firm had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $13.36 billion. During the same quarter in the prior year, the business posted $2.04 earnings per share. As a group, equities analysts forecast that Toronto Dominion Bank will post 5.48 EPS for the current year.

Toronto Dominion Bank Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 10th were given a dividend of $0.7568 per share. This is an increase from Toronto Dominion Bank's previous quarterly dividend of $0.73. The ex-dividend date was Thursday, July 10th. This represents a $3.03 dividend on an annualized basis and a dividend yield of 4.1%. Toronto Dominion Bank's dividend payout ratio is 45.31%.

Analysts Set New Price Targets

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

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.