Toronto Dominion Bank (The) $TD Shares Sold by Massachusetts Financial Services Co. MA

Key Points

• Massachusetts Financial Services Co. MA cut its stake in Toronto Dominion Bank by 8.9% in Q2, selling 1,107,423 shares and leaving it with 11,288,918 shares (about 0.66% of TD) valued at roughly $829.2 million.
• Toronto Dominion increased its quarterly dividend to $1.05 (from $0.76), a $4.20 annualized payout representing a ~5.2% yield and a 35.16% payout ratio.
• TD beat quarterly EPS estimates ($1.91 vs. $1.46) while reporting $10.12 billion in revenue; the stock has a market cap around $137.9 billion and carries an average analyst rating of "Hold" with a $93 price target.

Massachusetts Financial Services Co. MA cut its holdings in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 8.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 11,288,918 shares of the bank's stock after selling 1,107,423 shares during the period. Massachusetts Financial Services Co. MA owned about 0.66% of Toronto Dominion Bank worth $829,171,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of TD. Larson Financial Group LLC raised its position in shares of 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 during the period. Quaker Wealth Management LLC increased its position in Toronto Dominion Bank by 200.0% in the second quarter. Quaker Wealth Management LLC now owns 428 shares of the bank's stock worth $31,000 after buying an additional 856 shares during the period. Richardson Financial Services Inc. bought a new stake in Toronto Dominion Bank in the second quarter valued at $34,000. Tobam boosted its holdings in shares of Toronto Dominion Bank by 44.5% during the second quarter. Tobam now owns 490 shares of the bank's stock valued at $36,000 after acquiring an additional 151 shares during the period. Finally, Brentview Investment Management LLC bought a new position in shares of Toronto Dominion Bank during the first quarter worth about $40,000. Institutional investors and hedge funds own 52.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TD shares. Weiss Ratings reissued a "buy (b)" rating on shares of Toronto Dominion Bank in a research note on Wednesday, October 8th. Desjardins raised Toronto Dominion Bank from a "hold" rating to a "buy" rating in a report on Wednesday, August 13th. Zacks Research downgraded Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Royal Bank Of Canada raised Toronto Dominion Bank from a "sector perform" rating to an "outperform" rating in a research note on Friday, October 3rd. Finally, Wall Street Zen upgraded shares of Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research note on Saturday. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Toronto Dominion Bank has an average rating of "Hold" and an average price target of $93.00.

Toronto Dominion Bank Stock Down 0.1%

NYSE TD opened at $81.27 on Friday. Toronto Dominion Bank has a 12 month low of $51.25 and a 12 month high of $82.93. The company has a market capitalization of $137.88 billion, a P/E ratio of 9.49, a PEG ratio of 1.68 and a beta of 0.79. The company's 50 day simple moving average is $79.78 and its 200 day simple moving average is $74.10. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.02 and a quick ratio of 1.02.

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

Toronto Dominion Bank Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Friday, October 10th were issued a $1.05 dividend. The ex-dividend date was Friday, October 10th. 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 dividend yield of 5.2%. Toronto Dominion Bank's dividend payout ratio is 35.16%.

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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