Sky Investment Group LLC Lowers Position in The Toronto-Dominion Bank (NYSE:TD)

Sky Investment Group LLC decreased its stake in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 20.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 11,796 shares of the bank’s stock after selling 3,004 shares during the period. Sky Investment Group LLC’s holdings in Toronto-Dominion Bank were worth $746,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. CWM LLC boosted its holdings in Toronto-Dominion Bank by 2.4% in the 3rd quarter. CWM LLC now owns 7,208 shares of the bank’s stock worth $456,000 after buying an additional 170 shares during the period. Park Avenue Securities LLC boosted its stake in shares of Toronto-Dominion Bank by 5.3% in the first quarter. Park Avenue Securities LLC now owns 3,641 shares of the bank’s stock worth $220,000 after acquiring an additional 184 shares during the period. Consolidated Portfolio Review Corp boosted its stake in shares of Toronto-Dominion Bank by 1.6% in the first quarter. Consolidated Portfolio Review Corp now owns 11,583 shares of the bank’s stock worth $699,000 after acquiring an additional 186 shares during the period. First Affirmative Financial Network grew its position in shares of Toronto-Dominion Bank by 1.9% during the second quarter. First Affirmative Financial Network now owns 10,120 shares of the bank’s stock worth $556,000 after purchasing an additional 190 shares in the last quarter. Finally, Wright Investors Service Inc. raised its stake in Toronto-Dominion Bank by 0.5% during the 1st quarter. Wright Investors Service Inc. now owns 35,158 shares of the bank’s stock valued at $2,123,000 after purchasing an additional 191 shares during the period. Institutional investors own 52.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TD. Royal Bank of Canada lowered shares of Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a report on Friday, October 11th. UBS Group started coverage on shares of Toronto-Dominion Bank in a report on Tuesday, July 2nd. They issued a “neutral” rating on the stock. StockNews.com downgraded shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Thursday, August 22nd. Finally, National Bank Financial upgraded Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $84.00.

Toronto-Dominion Bank Price Performance

Shares of NYSE:TD traded down $0.04 on Tuesday, reaching $56.63. The company’s stock had a trading volume of 611,255 shares, compared to its average volume of 2,802,573. The company has a 50-day simple moving average of $60.64 and a 200 day simple moving average of $58.00. The Toronto-Dominion Bank has a 52-week low of $53.52 and a 52-week high of $65.12. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market cap of $98.95 billion, a P/E ratio of 12.84, a PEG ratio of 1.65 and a beta of 0.81.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings data on Thursday, August 22nd. The bank reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.56. The business had revenue of $14.18 billion during the quarter, compared to analyst estimates of $9.40 billion. Toronto-Dominion Bank had a return on equity of 14.34% and a net margin of 6.94%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the company earned $1.48 EPS. As a group, equities research analysts anticipate that The Toronto-Dominion Bank will post 5.82 EPS for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.739 per share. This represents a $2.96 annualized dividend and a yield of 5.22%. The ex-dividend date is Thursday, October 10th. Toronto-Dominion Bank’s payout ratio is 68.41%.

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.