Wasatch Advisors LP Trims Stake in The Toronto-Dominion Bank (NYSE:TD)

Wasatch Advisors LP trimmed its holdings in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 25.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,500 shares of the bank’s stock after selling 12,050 shares during the quarter. Wasatch Advisors LP’s holdings in Toronto-Dominion Bank were worth $2,083,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Private Trust Co. NA lifted its stake in Toronto-Dominion Bank by 10.6% during the fourth quarter. Private Trust Co. NA now owns 1,808 shares of the bank’s stock worth $117,000 after purchasing an additional 174 shares during the last quarter. Stratos Wealth Partners LTD. lifted its stake in Toronto-Dominion Bank by 0.9% during the fourth quarter. Stratos Wealth Partners LTD. now owns 20,126 shares of the bank’s stock worth $1,301,000 after purchasing an additional 174 shares during the last quarter. Park Avenue Securities LLC lifted its stake in Toronto-Dominion Bank by 5.3% during the first quarter. Park Avenue Securities LLC now owns 3,641 shares of the bank’s stock worth $220,000 after purchasing an additional 184 shares during the last quarter. Cooper Financial Group lifted its stake in Toronto-Dominion Bank by 2.4% during the fourth quarter. Cooper Financial Group now owns 8,120 shares of the bank’s stock worth $525,000 after purchasing an additional 188 shares during the last quarter. Finally, Hexagon Capital Partners LLC lifted its stake in Toronto-Dominion Bank by 11.6% during the first quarter. Hexagon Capital Partners LLC now owns 1,990 shares of the bank’s stock worth $120,000 after purchasing an additional 207 shares during the last quarter. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TD has been the subject of a number of recent research reports. StockNews.com lowered Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Thursday, June 27th. UBS Group started coverage on Toronto-Dominion Bank in a research report on Tuesday. They set a “neutral” rating for the company. Cibc World Mkts raised Toronto-Dominion Bank from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 24th. Scotiabank raised Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, April 17th. Finally, BMO Capital Markets lowered their price target on Toronto-Dominion Bank from $86.00 to $84.00 and set a “market perform” rating for the company in a research report on Friday, May 24th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Toronto-Dominion Bank currently has an average rating of “Hold” and an average price target of $88.00.

Toronto-Dominion Bank Stock Performance

Shares of NYSE TD traded up $0.75 during midday trading on Tuesday, hitting $55.29. 3,627,333 shares of the stock traded hands, compared to its average volume of 2,882,492. The firm has a 50-day moving average of $56.01 and a two-hundred day moving average of $58.89. The firm has a market capitalization of $96.61 billion, a P/E ratio of 12.51, a PEG ratio of 1.51 and a beta of 0.82. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.01 and a current ratio of 1.01. The Toronto-Dominion Bank has a one year low of $53.52 and a one year high of $66.15.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings results on Thursday, May 23rd. The bank reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.15. The firm had revenue of $10.18 billion for the quarter, compared to analysts’ expectations of $9.90 billion. Toronto-Dominion Bank had a return on equity of 14.38% and a net margin of 9.96%. On average, equities analysts forecast that The Toronto-Dominion Bank will post 5.86 EPS for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th will be issued a $0.74 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $2.96 dividend on an annualized basis and a yield of 5.35%. Toronto-Dominion Bank’s dividend payout ratio is currently 68.64%.

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.