Massmutual Trust Co. FSB ADV Cuts Stake in The Toronto-Dominion Bank (NYSE:TD)

Massmutual Trust Co. FSB ADV reduced its holdings in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 13.8% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,526 shares of the bank’s stock after selling 244 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Toronto-Dominion Bank were worth $92,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in TD. PNC Financial Services Group Inc. increased its stake in Toronto-Dominion Bank by 3.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 36,480 shares of the bank’s stock worth $2,198,000 after buying an additional 1,185 shares during the period. QRG Capital Management Inc. purchased a new stake in Toronto-Dominion Bank during the 3rd quarter worth approximately $474,000. Envestnet Asset Management Inc. increased its position in shares of Toronto-Dominion Bank by 5.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 160,587 shares of the bank’s stock valued at $9,677,000 after purchasing an additional 8,980 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Toronto-Dominion Bank by 29.8% in the 3rd quarter. Acadian Asset Management LLC now owns 51,200 shares of the bank’s stock valued at $3,098,000 after purchasing an additional 11,758 shares during the last quarter. Finally, LPL Financial LLC increased its position in shares of Toronto-Dominion Bank by 13.2% in the 3rd quarter. LPL Financial LLC now owns 235,966 shares of the bank’s stock valued at $14,219,000 after purchasing an additional 27,565 shares during the last quarter. 52.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on TD. Barclays began coverage on shares of Toronto-Dominion Bank in a research report on Wednesday, March 20th. They issued an “equal weight” rating on the stock. Cibc World Mkts raised shares of Toronto-Dominion Bank from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 24th. BMO Capital Markets dropped their price objective on shares of Toronto-Dominion Bank from $86.00 to $84.00 and set a “market perform” rating on the stock in a research report on Friday, May 24th. Scotiabank raised shares of Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, April 17th. Finally, National Bank Financial downgraded shares of Toronto-Dominion Bank from a “sector perform” rating to an “underperform” rating in a research report on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $88.00.

Toronto-Dominion Bank Trading Up 0.0 %

Shares of Toronto-Dominion Bank stock opened at $54.03 on Friday. The company has a fifty day simple moving average of $56.29 and a 200-day simple moving average of $59.15. The Toronto-Dominion Bank has a 12-month low of $53.52 and a 12-month high of $66.15. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.11. The stock has a market cap of $94.41 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 1.48 and a beta of 0.83.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its earnings results on Thursday, May 23rd. The bank reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.15. Toronto-Dominion Bank had a net margin of 9.96% and a return on equity of 14.38%. The business had revenue of $10.18 billion during the quarter, compared to analysts’ expectations of $9.90 billion. 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th will be paid a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a yield of 5.48%. The ex-dividend date of this dividend is Wednesday, July 10th. Toronto-Dominion Bank’s dividend payout ratio is currently 68.64%.

Toronto-Dominion Bank 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.