Ballentine Partners LLC Increases Holdings in The Toronto-Dominion Bank (NYSE:TD)

Ballentine Partners LLC grew its holdings in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 5.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,558 shares of the bank’s stock after buying an additional 608 shares during the quarter. Ballentine Partners LLC’s holdings in Toronto-Dominion Bank were worth $731,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC purchased a new stake in Toronto-Dominion Bank in the 2nd quarter worth about $31,000. Blue Trust Inc. raised 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 worth $38,000 after purchasing an additional 212 shares during the period. Kimelman & Baird LLC purchased a new stake in Toronto-Dominion Bank in the 2nd quarter worth about $49,000. BOKF NA increased its position in shares of Toronto-Dominion Bank by 203.6% during the first quarter. BOKF NA now owns 1,014 shares of the bank’s stock worth $61,000 after acquiring an additional 680 shares during the period. Finally, Eastern Bank purchased a new position in shares of Toronto-Dominion Bank during the third quarter worth approximately $66,000. 52.37% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TD. 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. Royal Bank of Canada lowered shares of Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research report on Friday, October 11th. StockNews.com lowered shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday, August 22nd. Finally, UBS Group began coverage on shares of Toronto-Dominion Bank in a research report on Tuesday, July 2nd. They set a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Toronto-Dominion Bank has an average rating of “Hold” and an average target price of $84.00.

Toronto-Dominion Bank Price Performance

NYSE TD opened at $56.34 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 firm’s 50 day moving average price is $60.52 and its 200-day moving average price is $57.95. The Toronto-Dominion Bank has a 52-week low of $53.52 and a 52-week high of $65.12. The company has a market cap of $98.45 billion, a PE ratio of 12.80, a P/E/G ratio of 1.68 and a beta of 0.81.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.56. The company had revenue of $14.18 billion during 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%. Toronto-Dominion Bank’s revenue was up 9.8% compared to the same quarter last year. During the same period last year, the firm earned $1.48 earnings per share. Sell-side analysts forecast that The Toronto-Dominion Bank will post 5.82 EPS for the current fiscal 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 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 yield of 5.25%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is 68.41%.

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.