Canada Pension Plan Investment Board Trims Stake in The Toronto-Dominion Bank (NYSE:TD)

Canada Pension Plan Investment Board lowered its stake in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 1.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 8,077,657 shares of the bank’s stock after selling 97,800 shares during the period. Canada Pension Plan Investment Board’s holdings in Toronto-Dominion Bank were worth $443,921,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mather Group LLC. purchased a new position in shares of Toronto-Dominion Bank during the first quarter valued at about $29,000. LifeSteps Financial Inc. purchased a new position in shares of Toronto-Dominion Bank during the first quarter valued at about $30,000. Triad Wealth Partners LLC purchased a new position in shares of Toronto-Dominion Bank during the second quarter valued at about $31,000. Blue Trust Inc. increased its position in shares of 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 buying an additional 212 shares during the period. Finally, Optiver Holding B.V. purchased a new position in shares of Toronto-Dominion Bank during the fourth quarter valued at about $39,000. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Wall Street Analyst Weigh In

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

Toronto-Dominion Bank Trading Up 2.9 %

Shares of NYSE TD opened at $64.41 on Friday. The firm’s 50 day moving average price is $59.07 and its 200-day moving average price is $57.86. The company has a market cap of $112.55 billion, a PE ratio of 14.64, a P/E/G ratio of 1.84 and a beta of 0.81. The Toronto-Dominion Bank has a 52-week low of $53.52 and a 52-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 issued its earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.56. The firm had revenue of $14.18 billion for the quarter, compared to the consensus estimate of $9.40 billion. Toronto-Dominion Bank had a net margin of 6.94% and a return on equity of 14.34%. The business’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.48 earnings per share. On average, equities research analysts expect that The Toronto-Dominion Bank will post 5.84 EPS for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 10th will be given a dividend of $0.739 per share. The ex-dividend date is Thursday, October 10th. This represents a $2.96 dividend on an annualized basis and a yield of 4.59%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is 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.