Toronto Dominion Bank (The) $TD Stock Holdings Decreased by MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd

Key Points

• MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd reduced its Toronto-Dominion Bank stake by 3.5% in the third quarter, selling 18,353 shares and retaining 508,524 shares valued at approximately $59.8 million.
• TD reported quarterly EPS of $1.98, exceeding the $1.74 consensus estimate, while revenue rose 6.9% year over year to $12.07 billion. The bank also authorized a $7.14 billion share buyback, equivalent to up to 3.5% of outstanding shares.
• TD declared a quarterly dividend of C$1.12 per share, representing a 3.5% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $148, compared with the reported share price of $126.37.

MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd trimmed its holdings in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 3.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 508,524 shares of the bank's stock after selling 18,353 shares during the period. Toronto Dominion Bank comprises about 7.6% of MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd's investment portfolio, making the stock its 2nd biggest position. MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd's holdings in Toronto Dominion Bank were worth $59,767,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in Toronto Dominion Bank by 8.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,565,982 shares of the bank's stock valued at $705,950,000 after acquiring an additional 589,316 shares during the last quarter. Bank of America Corp DE grew its position in shares of Toronto Dominion Bank by 7.8% during the first quarter. Bank of America Corp DE now owns 4,967,545 shares of the bank's stock valued at $463,522,000 after purchasing an additional 358,412 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of Toronto Dominion Bank during the second quarter valued at about $202,900,000. SEB Asset Management AB purchased a new position in shares of Toronto Dominion Bank during the first quarter valued at about $139,123,000. Finally, Hillsdale Investment Management Inc. increased its holdings in shares of Toronto Dominion Bank by 3.0% in the first quarter. Hillsdale Investment Management Inc. now owns 1,201,500 shares of the bank's stock worth $112,185,000 after purchasing an additional 34,921 shares during the last quarter. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Toronto Dominion Bank Price Performance

TD opened at $126.37 on Thursday. Toronto Dominion Bank has a 12-month low of $79.52 and a 12-month high of $126.57. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.09. The business's fifty day simple moving average is $120.16 and its 200-day simple moving average is $110.14. The company has a market capitalization of $207.05 billion, a price-to-earnings ratio of 18.78, a PEG ratio of 1.24 and a beta of 0.75.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last issued its earnings results on Thursday, August 27th. The bank reported $1.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.24. The company had revenue of $12.07 billion for the quarter, compared to analysts' expectations of $10.70 billion. Toronto Dominion Bank had a net margin of 14.41% and a return on equity of 14.88%. The firm's quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the prior year, the business earned $2.20 EPS. On average, equities research analysts anticipate that Toronto Dominion Bank will post 7.04 earnings per share for the current fiscal year.

Toronto Dominion Bank declared that its Board of Directors has initiated a share buyback plan on Wednesday, September 30th that authorizes the company to buy back $7.14 billion in outstanding shares. This buyback authorization authorizes the bank to repurchase up to 3.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

Toronto Dominion Bank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 31st. Stockholders of record on Friday, October 9th will be given a dividend of C$1.12 per share. The ex-dividend date of this dividend is Friday, October 9th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.5%. Toronto Dominion Bank's dividend payout ratio is presently 46.66%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Keefe, Bruyette & Woods began coverage on Toronto Dominion Bank in a research report on Friday, August 21st. They issued a "market perform" rating for the company. Weiss Ratings raised Toronto Dominion Bank from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Wednesday, October 21st. Finally, Wall Street Zen upgraded Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research report on Saturday, August 22nd. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Toronto Dominion Bank presently has a consensus rating of "Moderate Buy" and a consensus price target of $148.00.

About Toronto Dominion Bank

Toronto-Dominion Bank, operating as TD Bank Group, is a Canadian financial services company headquartered in Toronto, Ontario. The institution traces its history to the Bank of Toronto, founded in 1855, and the Dominion Bank, founded in 1869; the two banks merged in 1955 to form Toronto-Dominion Bank.

TD provides a broad range of banking and financial services through its Canadian and U.S. operations. Its offerings include personal and business deposit accounts, mortgages, consumer and commercial lending, credit cards, investment products, insurance, wealth management and financial advice.

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