Ballentine Partners LLC Has $602,000 Stake in The Toronto-Dominion Bank (NYSE:TD)

Ballentine Partners LLC trimmed its holdings in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 2.5% in the second quarter, Holdings Channel reports. The institutional investor owned 10,950 shares of the bank’s stock after selling 277 shares during the period. Ballentine Partners LLC’s holdings in Toronto-Dominion Bank were worth $602,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TD. Mather Group LLC. acquired a new stake in shares of Toronto-Dominion Bank in the first quarter valued at approximately $29,000. LifeSteps Financial Inc. acquired a new position in Toronto-Dominion Bank during the first quarter valued at approximately $30,000. Triad Wealth Partners LLC acquired a new position in Toronto-Dominion Bank during the second quarter valued at approximately $31,000. Blue Trust Inc. raised its position in Toronto-Dominion Bank by 50.7% during the second quarter. Blue Trust Inc. now owns 630 shares of the bank’s stock valued at $38,000 after purchasing an additional 212 shares in the last quarter. Finally, Optiver Holding B.V. acquired a new position in Toronto-Dominion Bank during the fourth quarter valued at approximately $39,000. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Toronto-Dominion Bank Stock Performance

NYSE TD opened at $61.05 on Wednesday. The firm’s fifty day moving average price is $58.10 and its two-hundred day moving average price is $57.69. The stock has a market cap of $106.73 billion, a PE ratio of 13.88, a PEG ratio of 1.76 and a beta of 0.81. 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 0.10, a quick ratio of 1.02 and a current ratio of 1.02.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.49 by $0.56. The firm had revenue of $14.18 billion for the quarter, compared to analysts’ expectations of $9.40 billion. Toronto-Dominion Bank had a net margin of 6.94% and a return on equity of 14.34%. The company’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.48 earnings per share. On average, equities analysts expect that The Toronto-Dominion Bank will post 5.84 EPS for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors 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 dividend yield of 4.84%. Toronto-Dominion Bank’s dividend payout ratio is 67.73%.

Analyst Ratings Changes

Several brokerages have commented on TD. StockNews.com downgraded shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday, August 22nd. UBS Group began coverage on shares of Toronto-Dominion Bank in a research report on Tuesday, July 2nd. They set a “neutral” rating for the company. 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. BMO Capital Markets lowered their price objective on shares of Toronto-Dominion Bank from $86.00 to $84.00 and set a “market perform” rating for the company in a research report on Friday, May 24th. Finally, Cibc World Mkts raised shares of Toronto-Dominion Bank from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 24th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $84.00.

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.