Scotia Capital Inc. Reduces Stock Position in Toronto Dominion Bank (The) (NYSE:TD)

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. cut its holdings in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 2.2% during the first quarter, according to its most recent Form 13F filing 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 biggest holding. Scotia Capital Inc. owned 0.62% of Toronto Dominion Bank worth $647,206,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in TD. Oppenheimer & Co. Inc. increased its stake in Toronto Dominion Bank by 144.6% during the first quarter. Oppenheimer & Co. Inc. now owns 11,532 shares of the bank's stock valued at $691,000 after acquiring an additional 6,818 shares during the period. Bank of New York Mellon Corp increased its stake in Toronto Dominion Bank by 7.0% during the first quarter. Bank of New York Mellon Corp now owns 1,606,446 shares of the bank's stock valued at $96,290,000 after acquiring an additional 104,864 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Toronto Dominion Bank by 1.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 12,396,341 shares of the bank's stock valued at $743,037,000 after acquiring an additional 181,781 shares during the period. Williams Financial LLC bought a new position in Toronto Dominion Bank during the first quarter valued at about $228,000. Finally, DekaBank Deutsche Girozentrale increased its stake in Toronto Dominion Bank by 0.3% during the first quarter. DekaBank Deutsche Girozentrale now owns 1,144,490 shares of the bank's stock valued at $68,307,000 after acquiring an additional 3,409 shares during the period. 52.37% of the stock is currently owned by institutional investors.

Toronto Dominion Bank Stock Down 0.5%

Shares of TD opened at $72.50 on Friday. The company has a market capitalization of $124.35 billion, a P/E ratio of 10.63, a PEG ratio of 1.64 and a beta of 0.84. 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 has a one year low of $51.25 and a one year high of $75.58. The business's 50 day simple moving average is $72.22 and its 200-day simple moving average is $64.30.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last announced its earnings results on Thursday, May 22nd. The bank reported $1.39 EPS for the quarter, topping the consensus estimate of $1.25 by $0.14. The business had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $13.36 billion. Toronto Dominion Bank had a return on equity of 13.11% and a net margin of 13.53%. During the same period in the previous year, the business earned $2.04 EPS. As a group, sell-side analysts predict that Toronto Dominion Bank will post 5.48 EPS for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend was Thursday, July 10th. This is an increase from Toronto Dominion Bank's previous quarterly dividend of $0.73. Toronto Dominion Bank's dividend payout ratio (DPR) is presently 45.31%.

Analyst Ratings Changes

Several equities analysts recently issued reports on TD shares. Royal Bank Of Canada boosted 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. Wall Street Zen upgraded Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research note on Saturday, May 24th. Finally, Scotiabank started coverage on Toronto Dominion Bank in a research note on Thursday, May 15th. They issued a "sector perform" rating on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target 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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