The Toronto-Dominion Bank (NYSE:TD) Holdings Cut by DORCHESTER WEALTH MANAGEMENT Co

DORCHESTER WEALTH MANAGEMENT Co reduced its holdings in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 0.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 303,046 shares of the bank’s stock after selling 905 shares during the period. Toronto-Dominion Bank makes up 3.3% of DORCHESTER WEALTH MANAGEMENT Co’s holdings, making the stock its 2nd biggest position. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Toronto-Dominion Bank were worth $18,873,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mather Group LLC. acquired a new position in shares of Toronto-Dominion Bank in the first quarter valued at approximately $29,000. Triad Wealth Partners LLC purchased a new position in Toronto-Dominion Bank in the second quarter worth approximately $31,000. Blue Trust Inc. lifted its stake in Toronto-Dominion Bank by 50.7% in the second quarter. Blue Trust Inc. now owns 630 shares of the bank’s stock worth $38,000 after acquiring an additional 212 shares during the last quarter. Kimelman & Baird LLC purchased a new position in Toronto-Dominion Bank in the second quarter worth approximately $49,000. Finally, BOKF NA lifted its position in shares of Toronto-Dominion Bank by 203.6% during the 1st quarter. BOKF NA now owns 1,014 shares of the bank’s stock worth $61,000 after buying an additional 680 shares during the last quarter. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Toronto-Dominion Bank Stock Performance

TD stock traded down $0.33 on Thursday, hitting $56.40. The company’s stock had a trading volume of 261,214 shares, compared to its average volume of 2,806,465. The firm has a 50 day moving average of $60.61 and a two-hundred day moving average of $57.98. The Toronto-Dominion Bank has a 1 year low of $53.52 and a 1 year high of $65.12. The stock has a market cap of $98.62 billion, a price-to-earnings ratio of 18.12, a price-to-earnings-growth ratio of 1.68 and a beta of 0.81. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings results on Thursday, August 22nd. The bank reported $2.05 EPS for the quarter, beating the consensus estimate of $1.49 by $0.56. The firm had revenue of $14.18 billion during the quarter, compared to the consensus estimate of $9.40 billion. Toronto-Dominion Bank had a net margin of 6.94% and a return on equity of 14.34%. Toronto-Dominion Bank’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.48 EPS. Equities analysts predict 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 $0.739 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.96 annualized dividend and a yield of 5.24%. Toronto-Dominion Bank’s dividend payout ratio is currently 96.49%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. National Bank Financial upgraded shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research report on Thursday, August 22nd. Royal Bank of Canada downgraded shares of Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research report on Friday, October 11th. UBS Group assumed coverage on shares of Toronto-Dominion Bank in a research report on Tuesday, July 2nd. They set a “neutral” rating for the company. Finally, StockNews.com downgraded shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $84.00.

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.