Ballentine Partners LLC Purchases 1,244 Shares of The Toronto-Dominion Bank (NYSE:TD)

Ballentine Partners LLC raised its position in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 12.5% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 11,227 shares of the bank’s stock after acquiring an additional 1,244 shares during the period. Ballentine Partners LLC’s holdings in Toronto-Dominion Bank were worth $678,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Gulf International Bank UK Ltd lifted its position in Toronto-Dominion Bank by 6.4% during the 1st quarter. Gulf International Bank UK Ltd now owns 11,838 shares of the bank’s stock worth $714,000 after buying an additional 707 shares in the last quarter. First Affirmative Financial Network raised its holdings in Toronto-Dominion Bank by 10.3% during the first quarter. First Affirmative Financial Network now owns 9,930 shares of the bank’s stock worth $600,000 after acquiring an additional 929 shares in the last quarter. Marcum Wealth LLC acquired a new position in Toronto-Dominion Bank during the first quarter valued at approximately $337,000. Nexus Investment Management ULC grew its stake in Toronto-Dominion Bank by 5.7% in the first quarter. Nexus Investment Management ULC now owns 840,410 shares of the bank’s stock valued at $50,758,000 after purchasing an additional 45,560 shares in the last quarter. Finally, Park Avenue Securities LLC increased its position in shares of Toronto-Dominion Bank by 5.3% during the 1st 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. Institutional investors and hedge funds own 52.37% of the company’s stock.

Toronto-Dominion Bank Stock Performance

TD stock traded up $0.77 during mid-day trading on Monday, hitting $54.79. 203,172 shares of the company were exchanged, compared to its average volume of 2,892,685. The Toronto-Dominion Bank has a 1-year low of $53.52 and a 1-year high of $66.15. The stock has a market capitalization of $95.74 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 1.48 and a beta of 0.83. The business has a 50 day simple moving average of $56.29 and a 200-day simple moving average of $59.13. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.11.

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, topping the consensus estimate of $1.35 by $0.15. The business had revenue of $10.18 billion during 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 earnings per share for the current year.

Toronto-Dominion Bank Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th will be given a $0.74 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 5.40%. Toronto-Dominion Bank’s payout ratio is presently 68.64%.

Wall Street Analysts Forecast Growth

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

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.