Letko Brosseau & Associates Inc. lowered its position in Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 0.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,756,773 shares of the bank’s stock after selling 54,773 shares during the quarter. Toronto-Dominion Bank comprises about 4.0% of Letko Brosseau & Associates Inc.’s portfolio, making the stock its 7th largest position. Letko Brosseau & Associates Inc. owned 0.37% of Toronto-Dominion Bank worth $395,660,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Toronto Dominion Bank increased its stake in Toronto-Dominion Bank by 48.9% in the 1st quarter. Toronto Dominion Bank now owns 16,443,402 shares of the bank’s stock worth $892,223,000 after buying an additional 5,402,536 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in Toronto-Dominion Bank in the 1st quarter worth about $328,829,000. CIBC Asset Management Inc increased its stake in Toronto-Dominion Bank by 13.3% in the 1st quarter. CIBC Asset Management Inc now owns 21,510,636 shares of the bank’s stock worth $1,167,313,000 after buying an additional 2,517,475 shares during the period. TD Asset Management Inc. increased its stake in Toronto-Dominion Bank by 2.4% in the 1st quarter. TD Asset Management Inc. now owns 48,855,643 shares of the bank’s stock worth $2,652,053,000 after buying an additional 1,157,886 shares during the period. Finally, Intact Investment Management Inc. increased its stake in Toronto-Dominion Bank by 62.0% in the 1st quarter. Intact Investment Management Inc. now owns 1,991,895 shares of the bank’s stock worth $144,452,000 after buying an additional 762,490 shares during the period. 48.12% of the stock is currently owned by institutional investors and hedge funds.

NYSE TD traded down $0.72 during trading on Thursday, reaching $53.88. 113,309 shares of the company’s stock traded hands, compared to its average volume of 1,037,699. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market cap of $99.21 billion, a price-to-earnings ratio of 10.70, a price-to-earnings-growth ratio of 1.77 and a beta of 1.04. The company has a 50 day simple moving average of $58.07. Toronto-Dominion Bank has a 12-month low of $47.73 and a 12-month high of $62.00.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its earnings results on Thursday, May 23rd. The bank reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.50. The business had revenue of $10.23 billion for the quarter, compared to the consensus estimate of $9.46 billion. Toronto-Dominion Bank had a net margin of 20.24% and a return on equity of 16.21%. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.62 EPS. As a group, analysts predict that Toronto-Dominion Bank will post 5.08 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 10th were given a dividend of $0.5511 per share. This represents a $2.20 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend was Tuesday, July 9th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is 44.93%.

Several research firms recently commented on TD. National Bank Financial downgraded shares of Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research note on Thursday, May 23rd. Bank of America downgraded shares of Toronto-Dominion Bank from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $82.00 to $77.00 in a research note on Thursday. Barclays raised shares of Toronto-Dominion Bank from an “equal weight” rating to an “overweight” rating and set a $84.00 price target on the stock in a research note on Tuesday, June 11th. Zacks Investment Research raised shares of Toronto-Dominion Bank from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a research note on Friday, August 9th. Finally, Canaccord Genuity reaffirmed a “buy” rating on shares of Toronto-Dominion Bank in a research note on Thursday, May 23rd. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $74.67.

Toronto-Dominion Bank Profile

The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. The company operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. It offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; financing options to customers at point of sale for automotive and recreational vehicle purchases through auto dealer network; credit cards; investing, advice-based, and asset management services to retail and institutional clients; and property and casualty insurance, as well as life and health insurance products.

See Also: Special Dividends

Institutional Ownership by Quarter for Toronto-Dominion Bank (NYSE:TD)

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