Toronto Dominion Bank (The) $TD Shares Sold by Te Ahumairangi Investment Management Ltd

Key Points

• Te Ahumairangi Investment Management Ltd has reduced its stake in Toronto Dominion Bank by 6.6%, now holding 59,381 shares valued at $3,558,000 after selling 4,200 shares.
• Several large investors have increased their positions in Toronto Dominion Bank, with Oppenheimer & Co. Inc. raising its stake by 144.6%, acquiring an additional 6,818 shares recently.
• The bank has announced an increase in its quarterly dividend to $1.05, reflecting a yield of 5.8%, up from the previous quarterly dividend of $0.76.

Te Ahumairangi Investment Management Ltd lessened its stake in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 6.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,381 shares of the bank's stock after selling 4,200 shares during the quarter. Te Ahumairangi Investment Management Ltd's holdings in Toronto Dominion Bank were worth $3,558,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Larson Financial Group LLC increased 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 purchasing an additional 236 shares in the last quarter. Financial Management Professionals Inc. increased its position in Toronto Dominion Bank by 322.4% during the 1st quarter. Financial Management Professionals Inc. now owns 490 shares of the bank's stock worth $29,000 after purchasing an additional 374 shares in the last quarter. Moisand Fitzgerald Tamayo LLC purchased a new stake in Toronto Dominion Bank during the 1st quarter worth about $32,000. CoreCap Advisors LLC increased its position in Toronto Dominion Bank by 57.5% during the 4th quarter. CoreCap Advisors LLC now owns 630 shares of the bank's stock worth $34,000 after purchasing an additional 230 shares in the last quarter. Finally, ORG Partners LLC purchased a new stake in Toronto Dominion Bank during the 1st quarter worth about $34,000. Hedge funds and other institutional investors own 52.37% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on TD. Scotiabank began coverage on Toronto Dominion Bank in a research report on Thursday, May 15th. They set a "sector perform" rating for the company. Zacks Research cut Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Royal Bank Of Canada lifted their price target 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. Wall Street Zen upgraded Toronto Dominion Bank from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. Finally, Desjardins upgraded Toronto Dominion Bank from a "hold" rating to a "buy" rating in a report on Wednesday, August 13th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Toronto Dominion Bank presently has an average rating of "Hold" and a consensus target price of $93.00.

Toronto Dominion Bank Trading Up 3.0%

TD traded up $2.20 during midday trading on Monday, hitting $75.05. The company's stock had a trading volume of 2,901,963 shares, compared to its average volume of 1,942,968. The firm has a market cap of $128.73 billion, a P/E ratio of 8.77, a PEG ratio of 1.63 and a beta of 0.81. Toronto Dominion Bank has a 52-week low of $51.25 and a 52-week high of $78.95. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.09. The firm has a 50-day moving average price of $73.79 and a two-hundred day moving average price of $66.59.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last released its quarterly earnings data on Thursday, August 28th. The bank reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.45. The business had revenue of $10.12 billion for the quarter, compared to analyst estimates of $13.73 billion. Toronto Dominion Bank had a return on equity of 13.59% and a net margin of 16.40%.The company's revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the company posted $2.05 EPS. On average, research analysts anticipate that Toronto Dominion Bank will post 5.48 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 10th will be paid a $1.05 dividend. The ex-dividend date of this dividend is Friday, October 10th. This represents a $4.20 annualized dividend and a dividend yield of 5.6%. This is an increase from Toronto Dominion Bank's previous quarterly dividend of $0.76. Toronto Dominion Bank's dividend payout ratio is presently 35.40%.

Toronto Dominion Bank 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.