1832 Asset Management L.P. Trims Stock Holdings in Toronto Dominion Bank (The) $TD

Key Points

• 1832 Asset Management L.P. decreased its stake in Toronto Dominion Bank by 2.1%, holding 22,447,170 shares after selling 472,157 shares in the first quarter.
• Toronto Dominion Bank's recent earnings report showed $1.39 earnings per share, surpassing analysts' expectations of $1.25, while reporting revenue of $10.97 billion against expected $13.36 billion.
• The stock has an average rating of "Hold", with a consensus price target of $93.00, according to recent reports from multiple analysts.

1832 Asset Management L.P. lowered its holdings in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 2.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,447,170 shares of the bank's stock after selling 472,157 shares during the period. Toronto Dominion Bank makes up 1.2% of 1832 Asset Management L.P.'s portfolio, making the stock its 4th biggest position. 1832 Asset Management L.P. owned about 1.29% of Toronto Dominion Bank worth $1,345,483,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Goldman Sachs Group Inc. grew its holdings in Toronto Dominion Bank by 93.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 12,216,411 shares of the bank's stock valued at $732,252,000 after purchasing an additional 5,917,078 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Toronto Dominion Bank by 38.6% during the 1st quarter. JPMorgan Chase & Co. now owns 9,994,402 shares of the bank's stock valued at $599,064,000 after purchasing an additional 2,780,984 shares in the last quarter. Mackenzie Financial Corp grew its holdings in Toronto Dominion Bank by 5.6% during the 4th quarter. Mackenzie Financial Corp now owns 27,990,674 shares of the bank's stock valued at $1,488,233,000 after purchasing an additional 1,491,472 shares in the last quarter. Burgundy Asset Management Ltd. grew its holdings in Toronto Dominion Bank by 137.3% during the 4th quarter. Burgundy Asset Management Ltd. now owns 2,258,881 shares of the bank's stock valued at $120,143,000 after purchasing an additional 1,306,946 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in Toronto Dominion Bank during the 1st quarter valued at $77,336,000. Institutional investors and hedge funds own 52.37% of the company's stock.

Toronto Dominion Bank Stock Up 1.0%

NYSE TD traded up $0.7270 during trading hours on Friday, reaching $74.3670. 1,586,781 shares of the company traded hands, compared to its average volume of 1,667,817. Toronto Dominion Bank has a 12 month low of $51.25 and a 12 month high of $75.58. 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 stock has a market capitalization of $127.55 billion, a PE ratio of 10.90, a PEG ratio of 1.63 and a beta of 0.84. The company has a 50 day moving average of $73.43 and a two-hundred day moving average of $66.07.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last posted its quarterly earnings results on Thursday, May 22nd. The bank reported $1.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.25 by $0.14. Toronto Dominion Bank had a net margin of 13.53% and a return on equity of 13.11%. The company had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $13.36 billion. During the same period last year, the firm posted $2.04 EPS. As a group, equities analysts expect that Toronto Dominion Bank will post 5.48 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on TD shares. Zacks Research lowered shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Desjardins raised shares of Toronto Dominion Bank from a "hold" rating to a "buy" rating in a report on Wednesday, August 13th. Royal Bank Of Canada raised their price target on shares of Toronto Dominion Bank from $87.00 to $93.00 and gave the company a "sector perform" rating in a report on Friday, May 23rd. Scotiabank assumed coverage on shares of Toronto Dominion Bank in a research note on Thursday, May 15th. They set a "sector perform" rating on the stock. Finally, Wall Street Zen upgraded shares of Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research note on Saturday, May 24th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $93.00.

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.