Toronto Dominion Bank (The) $TD Shares Sold by Fiera Capital Corp

Key Points

• Fiera Capital Corp sharply cut its Toronto Dominion Bank stake, selling 697,027 shares in the fourth quarter and reducing its position by 84.5% to 128,231 shares worth about $12.1 million.
• Analyst sentiment is mixed but generally positive: TD has a Moderate Buy consensus with an average price target of $156, though some firms recently downgraded the stock while RBC raised its target and kept an outperform rating.
• TD reported better-than-expected quarterly results, with EPS of $1.74 versus $1.63 expected, and also increased its quarterly dividend to $1.12 per share, implying a 3.9% annual yield.

Fiera Capital Corp lowered its stake in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 84.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 128,231 shares of the bank's stock after selling 697,027 shares during the quarter. Fiera Capital Corp's holdings in Toronto Dominion Bank were worth $12,089,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in TD. Harvest Fund Management Co. Ltd boosted its stake in shares of Toronto Dominion Bank by 112.8% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 317 shares of the bank's stock worth $30,000 after acquiring an additional 168 shares during the last quarter. CBIZ Investment Advisory Services LLC acquired a new stake in shares of Toronto Dominion Bank in the fourth quarter worth approximately $34,000. Cornerstone Planning Group LLC boosted its stake in shares of Toronto Dominion Bank by 177.9% in the fourth quarter. Cornerstone Planning Group LLC now owns 428 shares of the bank's stock worth $40,000 after acquiring an additional 274 shares during the last quarter. Sound Income Strategies LLC boosted its stake in shares of Toronto Dominion Bank by 80.6% in the fourth quarter. Sound Income Strategies LLC now owns 466 shares of the bank's stock worth $44,000 after acquiring an additional 208 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Toronto Dominion Bank by 660.9% in the second quarter. Smartleaf Asset Management LLC now owns 525 shares of the bank's stock worth $38,000 after acquiring an additional 456 shares during the last quarter. Institutional investors and hedge funds own 52.37% of the company's stock.

Wall Street Analyst Weigh In

TD has been the topic of a number of research analyst reports. Canadian Imperial Bank of Commerce lowered Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 12th. Raymond James Financial raised Toronto Dominion Bank from a "market perform" rating to an "outperform" rating in a research note on Tuesday, May 12th. Royal Bank Of Canada lifted their price target on Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an "outperform" rating in a research note on Monday, June 1st. Wall Street Zen lowered Toronto Dominion Bank from a "hold" rating to a "sell" rating in a research note on Saturday, May 23rd. Finally, Zacks Research lowered Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $156.00.

Toronto Dominion Bank Stock Performance

NYSE TD opened at $114.26 on Tuesday. The stock's fifty day moving average is $105.59 and its two-hundred day moving average is $97.47. The firm has a market capitalization of $188.80 billion, a P/E ratio of 17.83, a price-to-earnings-growth ratio of 1.25 and a beta of 0.72. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. Toronto Dominion Bank has a fifty-two week low of $69.97 and a fifty-two week high of $114.56.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last released its quarterly earnings data on Thursday, May 28th. The bank reported $1.74 earnings per share for the quarter, topping analysts' consensus estimates of $1.63 by $0.11. The company had revenue of $11.80 billion for the quarter, compared to analyst estimates of $11.04 billion. Toronto Dominion Bank had a return on equity of 14.83% and a net margin of 13.20%.The firm's revenue for the quarter was down 31.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.97 earnings per share. On average, research analysts anticipate that Toronto Dominion Bank will post 6.92 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 10th will be paid a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 3.9%. This is an increase from Toronto Dominion Bank's previous quarterly dividend of $1.08. The ex-dividend date of this dividend is Friday, July 10th. Toronto Dominion Bank's dividend payout ratio is presently 48.52%.

Toronto Dominion Bank Company Profile

Toronto-Dominion Bank (TD) is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. Formed through the 1955 merger of the Bank of Toronto (founded 1855) and the Dominion Bank (founded 1869), TD is one of Canada's largest banks and offers a broad range of financial products and services to individual, small business, commercial and institutional clients.

TD's core businesses include Canadian and U.S. personal and commercial banking, wealth management, wholesale banking and insurance.

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