Beaton Management Co. Inc. Sells 900 Shares of The Toronto-Dominion Bank (NYSE:TD)

Beaton Management Co. Inc. lessened its stake in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 1.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 82,527 shares of the bank’s stock after selling 900 shares during the quarter. Toronto-Dominion Bank makes up approximately 2.4% of Beaton Management Co. Inc.’s investment portfolio, making the stock its 10th largest position. Beaton Management Co. Inc.’s holdings in Toronto-Dominion Bank were worth $4,536,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of TD. Mather Group LLC. bought a new stake in Toronto-Dominion Bank in the 1st quarter valued at $29,000. LifeSteps Financial Inc. bought a new stake in shares of Toronto-Dominion Bank during the 1st quarter worth $30,000. Triad Wealth Partners LLC acquired a new position in Toronto-Dominion Bank during the 2nd quarter worth approximately $31,000. Optiver Holding B.V. acquired a new position in Toronto-Dominion Bank in the 4th quarter worth about $39,000. Finally, Blue Trust Inc. increased its position in Toronto-Dominion Bank by 50.7% in the 2nd quarter. Blue Trust Inc. now owns 630 shares of the bank’s stock valued at $38,000 after acquiring an additional 212 shares during the period. 52.37% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Toronto-Dominion Bank Stock Performance

Toronto-Dominion Bank stock opened at $64.41 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market cap of $112.55 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 1.84 and a beta of 0.81. The stock’s 50 day simple moving average is $59.07 and its two-hundred day simple moving average is $57.86. The Toronto-Dominion Bank has a fifty-two week low of $53.52 and a fifty-two week high of $65.12.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its 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. Toronto-Dominion Bank had a return on equity of 14.34% and a net margin of 6.94%. The business had revenue of $14.18 billion for the quarter, compared to the consensus estimate of $9.40 billion. During the same period last year, the business posted $1.48 EPS. The company’s revenue was up 9.8% compared to the same quarter last year. As a group, analysts expect that The Toronto-Dominion Bank will post 5.84 earnings per share for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be given a $0.739 dividend. The ex-dividend date is Thursday, October 10th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 4.59%. Toronto-Dominion Bank’s payout ratio is currently 68.64%.

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.