Raymond James & Associates Sells 50,750 Shares of The Toronto-Dominion Bank (NYSE:TD)

Raymond James & Associates lessened its holdings in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 24.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 156,975 shares of the bank’s stock after selling 50,750 shares during the period. Raymond James & Associates’ holdings in Toronto-Dominion Bank were worth $8,627,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Family Legacy Inc. increased its holdings in Toronto-Dominion Bank by 0.7% during the first quarter. Family Legacy Inc. now owns 26,351 shares of the bank’s stock valued at $1,591,000 after buying an additional 172 shares during the last quarter. Park Avenue Securities LLC increased its stake in shares of Toronto-Dominion Bank by 5.3% in 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 in the last quarter. Consolidated Portfolio Review Corp raised its holdings in Toronto-Dominion Bank by 1.6% in the 1st quarter. Consolidated Portfolio Review Corp now owns 11,583 shares of the bank’s stock worth $699,000 after purchasing an additional 186 shares during the period. First Affirmative Financial Network lifted its position in Toronto-Dominion Bank by 1.9% during the second quarter. First Affirmative Financial Network now owns 10,120 shares of the bank’s stock valued at $556,000 after purchasing an additional 190 shares in the last quarter. Finally, Wright Investors Service Inc. grew its holdings in Toronto-Dominion Bank by 0.5% during the first 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. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on TD shares. StockNews.com cut Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday, August 22nd. Cibc World Mkts upgraded shares of Toronto-Dominion Bank from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 24th. National Bank Financial raised shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research note on Thursday, August 22nd. UBS Group initiated coverage on shares of Toronto-Dominion Bank in a research note on Tuesday, July 2nd. They set a “neutral” rating on the stock. Finally, BMO Capital Markets cut 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 note on Friday, May 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Toronto-Dominion Bank presently has an average rating of “Hold” and a consensus price target of $84.00.

Toronto-Dominion Bank Stock Performance

TD opened at $59.18 on Tuesday. The stock has a market capitalization of $103.46 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 1.74 and a beta of 0.82. The company has a fifty day moving average of $56.91 and a 200 day moving average of $57.65. The Toronto-Dominion Bank has a fifty-two week low of $53.52 and a fifty-two week high of $65.12. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.01 and a current ratio of 1.01.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings data on Thursday, August 22nd. The bank reported $2.05 EPS for the quarter, beating the consensus estimate of $1.49 by $0.56. Toronto-Dominion Bank had a net margin of 6.94% and a return on equity of 14.27%. The business had revenue of $14.18 billion during the quarter, compared to the consensus estimate of $9.40 billion. During the same quarter in the prior year, the firm earned $1.48 EPS. The business’s revenue was up 9.8% on a year-over-year basis. As a group, sell-side analysts forecast that The Toronto-Dominion Bank will post 5.89 earnings per share 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. This represents a $2.96 dividend on an annualized basis and a yield of 4.99%. The ex-dividend date of this dividend is Thursday, October 10th. Toronto-Dominion Bank’s payout ratio is 67.73%.

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.