Value Partners Investments Inc. Cuts Holdings in Toronto Dominion Bank (The) $TD

Key Points

• Value Partners Investments Inc. reduced its holdings in Toronto Dominion Bank by 94.4% in Q2, leaving it with only 42,103 shares after selling 705,676 shares during the quarter.
• Toronto Dominion Bank announced a quarterly dividend increase to $1.05 per share, up from $0.76, representing a 5.5% yield and an annualized payout of $4.20.
• Toronto Dominion Bank reported Q2 earnings per share of $1.91, surpassing analysts' expectations of $1.46, despite revenue coming in lower than anticipated at $10.12 billion.

Value Partners Investments Inc. lowered its holdings in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 94.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,103 shares of the bank's stock after selling 705,676 shares during the quarter. Value Partners Investments Inc.'s holdings in Toronto Dominion Bank were worth $3,091,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of TD. Goldman Sachs Group Inc. lifted its stake 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 acquiring an additional 5,917,078 shares during the period. Federation des caisses Desjardins du Quebec boosted its holdings in Toronto Dominion Bank by 48.9% in the first quarter. Federation des caisses Desjardins du Quebec now owns 14,785,565 shares of the bank's stock worth $886,174,000 after purchasing an additional 4,853,498 shares during the last quarter. Canada Pension Plan Investment Board grew its position in Toronto Dominion Bank by 81.6% in the 1st quarter. Canada Pension Plan Investment Board now owns 10,524,446 shares of the bank's stock worth $630,746,000 after purchasing an additional 4,729,657 shares during the period. JPMorgan Chase & Co. grew its position in Toronto Dominion Bank by 38.6% in the 1st quarter. JPMorgan Chase & Co. now owns 9,994,402 shares of the bank's stock worth $599,064,000 after purchasing an additional 2,780,984 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in Toronto Dominion Bank by 17.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 13,700,503 shares of the bank's stock valued at $825,440,000 after buying an additional 2,057,784 shares during the last quarter. 52.37% of the stock is owned by hedge funds and other institutional investors.

Toronto Dominion Bank Stock Performance

Shares of NYSE TD opened at $76.79 on Friday. The stock has a market cap of $131.17 billion, a PE ratio of 8.97, a price-to-earnings-growth ratio of 1.66 and a beta of 0.81. Toronto Dominion Bank has a 1 year low of $51.25 and a 1 year high of $78.95. The firm has a fifty day moving average price of $74.21 and a 200-day moving average price of $67.62. 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 released its earnings results on Thursday, August 28th. The bank reported $1.91 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $10.12 billion for the quarter, compared to analysts' expectations of $13.73 billion. During the same quarter in the previous year, the company earned $2.05 EPS. Toronto Dominion Bank's revenue for the quarter was up 7.9% on a year-over-year basis. Equities analysts anticipate that Toronto Dominion Bank will post 5.48 earnings per share for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 10th will be paid a dividend of $1.05 per share. 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 annualized dividend and a yield of 5.5%. Toronto Dominion Bank's dividend payout ratio is 35.40%.

Analyst Ratings Changes

TD has been the topic of a number of recent research reports. Wall Street Zen raised Toronto Dominion Bank from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. Zacks Research lowered shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Royal Bank Of Canada increased their price objective on shares of Toronto Dominion Bank from $87.00 to $93.00 and gave the stock a "sector perform" rating in a research note on Friday, May 23rd. Finally, Desjardins upgraded shares of Toronto Dominion Bank from a "hold" rating to a "buy" rating in a research report on Wednesday, August 13th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $93.00.

Toronto Dominion Bank Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.