Toronto Dominion Bank (The) $TD Shares Sold by Davis Rea LTD.

Key Points

• Davis Rea LTD. has reduced its stake in Toronto Dominion Bank by 5.8% during the second quarter, selling 5,774 shares, which now makes up 1.7% of its overall holdings.
• Toronto Dominion Bank reported an EPS of $1.91 for the last quarter, exceeding expectations, but its revenue fell short of estimates at $10.12 billion.
• The bank has announced an increase in its quarterly dividend to $1.05, reflecting a significant rise from the previous dividend of $0.76, with a yield of 5.4%.

Davis Rea LTD. lowered its holdings in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 5.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,473 shares of the bank's stock after selling 5,774 shares during the period. Toronto Dominion Bank comprises 1.7% of Davis Rea LTD.'s holdings, making the stock its 18th biggest holding. Davis Rea LTD.'s holdings in Toronto Dominion Bank were worth $6,853,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Triasima Portfolio Management inc. purchased a new position in shares of Toronto Dominion Bank in the second quarter worth approximately $8,492,000. Oppenheimer & Co. Inc. increased its position in shares of Toronto Dominion Bank by 144.6% in the first quarter. Oppenheimer & Co. Inc. now owns 11,532 shares of the bank's stock worth $691,000 after acquiring an additional 6,818 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Toronto Dominion Bank by 41.9% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,407,273 shares of the bank's stock worth $264,134,000 after acquiring an additional 1,302,281 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Toronto Dominion Bank by 38.6% in the first quarter. JPMorgan Chase & Co. now owns 9,994,402 shares of the bank's stock worth $599,064,000 after acquiring an additional 2,780,984 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Toronto Dominion Bank by 7.0% in the first quarter. Bank of New York Mellon Corp now owns 1,606,446 shares of the bank's stock worth $96,290,000 after acquiring an additional 104,864 shares in the last quarter. 52.37% of the stock is owned by hedge funds and other institutional investors.

Toronto Dominion Bank Price Performance

NYSE TD opened at $78.36 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $133.28 billion, a PE ratio of 9.15, a price-to-earnings-growth ratio of 1.64 and a beta of 0.80. Toronto Dominion Bank has a 12-month low of $51.25 and a 12-month high of $82.08. The company has a 50 day moving average price of $76.35 and a two-hundred day moving average price of $70.32.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last posted its earnings results on Thursday, August 28th. The bank reported $1.91 EPS for the quarter, topping the consensus estimate of $1.46 by $0.45. The company had revenue of $10.12 billion during the quarter, compared to the consensus estimate of $13.73 billion. Toronto Dominion Bank had a net margin of 16.40% and a return on equity of 13.59%. The company's revenue for the quarter was up 7.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.05 earnings per share. As a group, equities analysts predict that Toronto Dominion Bank will post 5.48 earnings per share for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 10th will be given a $1.05 dividend. This is a positive change from Toronto Dominion Bank's previous quarterly dividend of $0.76. This represents a $4.20 annualized dividend and a yield of 5.4%. The ex-dividend date of this dividend is Friday, October 10th. Toronto Dominion Bank's payout ratio is presently 36.10%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Toronto Dominion Bank from a "hold" rating to a "sell" rating in a research report on Friday, September 26th. Royal Bank Of Canada upgraded shares of Toronto Dominion Bank from a "sector perform" rating to an "outperform" rating in a report on Friday, October 3rd. Zacks Research cut shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Desjardins upgraded shares of Toronto Dominion Bank from a "hold" rating to a "buy" rating in a report on Wednesday, August 13th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Toronto Dominion Bank in a report on Wednesday. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $93.00.

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.

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