Sienna Gestion Sells 19,834 Shares of Toronto Dominion Bank (The) (NYSE:TD)

Key Points

• Sienna Gestion has reduced its stake in Toronto Dominion Bank by 7.4%, now holding 247,259 shares valued at approximately $14.4 million.
• The bank recently declared a quarterly dividend of $0.7568 per share, reflecting an increase from the previous dividend and a yield of 4.1%.
• Toronto Dominion Bank's stock has received varied ratings from analysts, with an average rating of "Hold" and a price target increase to $93.00.

Sienna Gestion cut its stake in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 7.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 247,259 shares of the bank's stock after selling 19,834 shares during the quarter. Toronto Dominion Bank accounts for 1.2% of Sienna Gestion's holdings, making the stock its 16th biggest position. Sienna Gestion's holdings in Toronto Dominion Bank were worth $14,400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of TD. Larson Financial Group LLC boosted its position in Toronto Dominion Bank by 122.9% during the 1st quarter. Larson Financial Group LLC now owns 428 shares of the bank's stock worth $26,000 after acquiring an additional 236 shares during the last quarter. Financial Management Professionals Inc. boosted its holdings in shares of Toronto Dominion Bank by 322.4% in the 1st quarter. Financial Management Professionals Inc. now owns 490 shares of the bank's stock valued at $29,000 after buying an additional 374 shares during the last quarter. Moisand Fitzgerald Tamayo LLC acquired a new stake in shares of Toronto Dominion Bank in the 1st quarter valued at approximately $32,000. ORG Partners LLC bought a new stake in Toronto Dominion Bank in the 1st quarter valued at $34,000. Finally, CoreCap Advisors LLC raised its stake in Toronto Dominion Bank by 57.5% in the 4th quarter. CoreCap Advisors LLC now owns 630 shares of the bank's stock valued at $34,000 after acquiring an additional 230 shares during the period. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Wall Street Zen raised Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research note on Saturday, May 24th. Royal Bank Of Canada boosted their price objective on Toronto Dominion Bank from $87.00 to $93.00 and gave the company a "sector perform" rating in a report on Friday, May 23rd. Scotiabank started coverage on Toronto Dominion Bank in a report on Thursday, May 15th. They set a "sector perform" rating for the company. Finally, Desjardins raised Toronto Dominion Bank from a "hold" rating to a "buy" rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $93.00.

Toronto Dominion Bank Stock Up 1.7%

Shares of NYSE:TD opened at $74.48 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.09. The stock has a market cap of $127.74 billion, a P/E ratio of 10.92, a price-to-earnings-growth ratio of 1.66 and a beta of 0.84. The business's 50 day moving average is $72.94 and its 200 day moving average is $65.15. Toronto Dominion Bank has a 52-week low of $51.25 and a 52-week high of $75.58.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last issued its quarterly earnings data on Thursday, May 22nd. The bank reported $1.39 EPS for the quarter, beating the consensus estimate of $1.25 by $0.14. The firm had revenue of $10.97 billion during the quarter, compared to analyst estimates 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 quarter in the prior year, the business posted $2.04 EPS. Sell-side analysts predict that 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 was paid on Thursday, July 31st. Shareholders of record on Thursday, July 10th were given a dividend of $0.7568 per share. The ex-dividend date of this dividend was Thursday, July 10th. This represents a $3.03 annualized dividend and a yield of 4.1%. This is an increase from Toronto Dominion Bank's previous quarterly dividend of $0.73. Toronto Dominion Bank's payout ratio is 45.16%.

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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