Ritholtz Wealth Management Cuts Stake in The Toronto-Dominion Bank (NYSE:TD)

Ritholtz Wealth Management cut its stake in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 37.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,622 shares of the bank’s stock after selling 8,874 shares during the quarter. Ritholtz Wealth Management’s holdings in Toronto-Dominion Bank were worth $925,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mather Group LLC. purchased a new position in shares of Toronto-Dominion Bank in the first quarter valued at approximately $29,000. Triad Wealth Partners LLC acquired a new position in Toronto-Dominion Bank during the second quarter worth about $31,000. Blue Trust Inc. boosted 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 worth $38,000 after acquiring an additional 212 shares during the last quarter. Kimelman & Baird LLC acquired a new stake in Toronto-Dominion Bank in the 2nd quarter valued at about $49,000. Finally, BOKF NA raised its holdings in Toronto-Dominion Bank by 203.6% in the 1st quarter. BOKF NA now owns 1,014 shares of the bank’s stock valued at $61,000 after acquiring an additional 680 shares during the last quarter. 52.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TD. Royal Bank of Canada cut Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a report on Friday. UBS Group began coverage on Toronto-Dominion Bank in a research note on Tuesday, July 2nd. They issued a “neutral” rating for the company. National Bank Financial raised shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research report on Thursday, August 22nd. Finally, StockNews.com cut shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $84.00.

Toronto-Dominion Bank Stock Down 0.9 %

Shares of NYSE:TD opened at $56.50 on Tuesday. The company has a market capitalization of $98.73 billion, a price-to-earnings ratio of 12.84, a PEG ratio of 1.73 and a beta of 0.81. The Toronto-Dominion Bank has a 12-month low of $53.52 and a 12-month high of $65.12. The business has a 50-day moving average price of $60.66 and a 200 day moving average price of $58.13. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.56. The business had revenue of $14.18 billion during 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 business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the business earned $1.48 earnings per share. Sell-side analysts expect that The Toronto-Dominion Bank will post 5.84 EPS for the current year.

Toronto-Dominion Bank Cuts Dividend

The company also recently announced 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. This represents a $2.96 dividend on an annualized basis and a yield of 5.23%. The ex-dividend date is Thursday, October 10th. Toronto-Dominion Bank’s payout ratio is 68.41%.

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.