Toronto Dominion Bank (The) $TD Stock Holdings Lessened by Lincluden Management Ltd.

Key Points

• Lincluden Management Ltd. has reduced its holdings in Toronto Dominion Bank by 15.3%, now owning approximately 0.06% of the bank, valued at $73.57 million.
• Toronto Dominion Bank recently announced an increased quarterly dividend, raising it from $0.76 to $1.05, which represents a 5.4% dividend yield.
• Despite an earnings beat, with EPS of $1.91 against estimates of $1.46, the stock has faced rating changes, including a downgrade from "hold" to "sell" by Wall Street Zen.

Lincluden Management Ltd. decreased its holdings in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 15.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,001,139 shares of the bank's stock after selling 181,184 shares during the period. Toronto Dominion Bank comprises approximately 8.1% of Lincluden Management Ltd.'s investment portfolio, making the stock its largest holding. Lincluden Management Ltd. owned approximately 0.06% of Toronto Dominion Bank worth $73,569,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Larson Financial Group LLC lifted 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 valued at $26,000 after buying an additional 236 shares in the last quarter. Richardson Financial Services Inc. purchased a new position in shares of Toronto Dominion Bank during the 2nd quarter valued at approximately $34,000. Moisand Fitzgerald Tamayo LLC purchased a new position in shares of Toronto Dominion Bank during the 1st quarter valued at approximately $32,000. ORG Partners LLC purchased a new position in shares of Toronto Dominion Bank during the 1st quarter valued at approximately $34,000. Finally, Brentview Investment Management LLC purchased a new position in shares of Toronto Dominion Bank during the 1st quarter valued at approximately $40,000. Hedge funds and other institutional investors own 52.37% of the company's stock.

Analysts Set New Price Targets

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

Toronto Dominion Bank Stock Down 1.8%

Shares of TD opened at $78.36 on Friday. Toronto Dominion Bank has a 52-week low of $51.25 and a 52-week high of $82.08. The company has a market capitalization of $133.28 billion, a PE ratio of 9.15, a price-to-earnings-growth ratio of 1.60 and a beta of 0.80. The stock has a fifty day simple moving average of $76.35 and a two-hundred day simple moving average of $70.38. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.09.

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

Toronto Dominion Bank Increases Dividend

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

About Toronto Dominion Bank

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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