Toronto Dominion Bank (The) $TD Shares Sold by Wasatch Advisors LP

Key Points

• Wasatch Advisors LP sharply reduced its stake in Toronto Dominion Bank by 91.2% in the first quarter, selling 46,976 shares and leaving 4,518 shares valued at about $422,000.
• TD beat quarterly expectations, reporting EPS of $1.74 versus the $1.63 consensus and revenue of $11.80 billion versus $11.04 billion expected, even though revenue was down 31.1% from a year earlier.
• The bank raised its dividend to $1.12 per share quarterly, up from $1.08, implying an annualized yield of 3.7%; analysts currently rate the stock a consensus Moderate Buy with a target price of $156.00.

Wasatch Advisors LP decreased its position in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 91.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,518 shares of the bank's stock after selling 46,976 shares during the period. Wasatch Advisors LP's holdings in Toronto Dominion Bank were worth $422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TD. Main Line Retirement Advisors LLC increased its holdings in shares of Toronto Dominion Bank by 0.8% in the first quarter. Main Line Retirement Advisors LLC now owns 12,254 shares of the bank's stock valued at $1,143,000 after purchasing an additional 102 shares during the period. Rosenberg Matthew Hamilton lifted its holdings in shares of Toronto Dominion Bank by 8.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 1,489 shares of the bank's stock worth $140,000 after purchasing an additional 118 shares during the period. Richardson Financial Services Inc. boosted its position in Toronto Dominion Bank by 12.4% in the fourth quarter. Richardson Financial Services Inc. now owns 1,104 shares of the bank's stock valued at $104,000 after buying an additional 122 shares during the last quarter. Commons Capital LLC boosted its position in Toronto Dominion Bank by 0.7% in the third quarter. Commons Capital LLC now owns 18,251 shares of the bank's stock valued at $1,459,000 after buying an additional 134 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its holdings in Toronto Dominion Bank by 4.8% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,912 shares of the bank's stock worth $233,000 after buying an additional 134 shares during the period. Institutional investors and hedge funds own 52.37% of the company's stock.

Wall Street Analysts Forecast Growth

TD has been the subject of a number of recent research reports. Weiss Ratings lowered shares of Toronto Dominion Bank from a "buy (b+)" rating to a "buy (b)" rating in a research report on Thursday, June 11th. Royal Bank Of Canada upped their price objective on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the company an "outperform" rating in a report on Monday, June 1st. Scotiabank raised shares of Toronto Dominion Bank from a "sector perform" rating to a "sector outperform" rating in a report on Monday, May 4th. Wall Street Zen downgraded shares of Toronto Dominion Bank from a "hold" rating to a "sell" rating in a research report on Saturday, May 23rd. Finally, Raymond James Financial raised shares of Toronto Dominion Bank from a "market perform" rating to an "outperform" rating in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $156.00.

Toronto Dominion Bank Stock Performance

TD opened at $119.81 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a fifty day moving average price of $111.40 and a 200 day moving average price of $100.75. Toronto Dominion Bank has a 1 year low of $72.04 and a 1 year high of $120.98. The stock has a market cap of $197.98 billion, a P/E ratio of 18.69, a P/E/G ratio of 1.33 and a beta of 0.72.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last announced its quarterly earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.63 by $0.11. The firm had revenue of $11.80 billion for the quarter, compared to the consensus estimate of $11.04 billion. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. The firm's quarterly revenue was down 31.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.97 earnings per share. Equities research analysts anticipate that Toronto Dominion Bank will post 6.86 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 10th will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, July 10th. This is an increase from Toronto Dominion Bank's previous quarterly dividend of $1.08. Toronto Dominion Bank's dividend payout ratio is currently 48.52%.

About Toronto Dominion Bank

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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