Public Sector Pension Investment Board Sells 189,108 Shares of Toronto Dominion Bank (The) $TD

Public Sector Pension Investment Board reduced its stake in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 7.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 2,477,621 shares of the bank’s stock after selling 189,108 shares during the period. Toronto Dominion Bank comprises 0.7% of Public Sector Pension Investment Board’s investment portfolio, making the stock its 24th biggest holding. Public Sector Pension Investment Board’s holdings in Toronto Dominion Bank were worth $198,153,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Varma Mutual Pension Insurance Co boosted its stake in Toronto Dominion Bank by 8.7% in the third quarter. Varma Mutual Pension Insurance Co now owns 294,798 shares of the bank’s stock valued at $23,577,000 after acquiring an additional 23,600 shares during the last quarter. Westover Capital Advisors LLC bought a new stake in shares of Toronto Dominion Bank in the 3rd quarter worth approximately $263,000. Savvy Advisors Inc. purchased a new position in Toronto Dominion Bank in the third quarter valued at approximately $207,000. Caprock Group LLC bought a new position in Toronto Dominion Bank during the third quarter valued at $851,000. Finally, MQS Management LLC purchased a new stake in Toronto Dominion Bank in the third quarter worth $787,000. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Toronto Dominion Bank Stock Down 1.7%

TD stock opened at $95.64 on Friday. The stock has a 50-day simple moving average of $93.92 and a two-hundred day simple moving average of $83.79. Toronto Dominion Bank has a twelve month low of $54.87 and a twelve month high of $99.04. The firm has a market capitalization of $160.52 billion, a PE ratio of 11.35, a PEG ratio of 1.34 and a beta of 0.67. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.09.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings data on Thursday, December 4th. The bank reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.10. The company had revenue of $11.44 billion during the quarter, compared to analyst estimates of $10.10 billion. Toronto Dominion Bank had a net margin of 16.52% and a return on equity of 13.90%. Toronto Dominion Bank’s revenue was down .1% compared to the same quarter last year. During the same period last year, the business earned $1.72 earnings per share. On average, equities analysts predict that Toronto Dominion Bank will post 5.48 EPS for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, January 31st. Shareholders of record on Friday, January 9th were issued a $1.08 dividend. This represents a $4.32 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Friday, January 9th. This is a positive change from Toronto Dominion Bank’s previous quarterly dividend of $1.05. Toronto Dominion Bank’s payout ratio is 37.37%.

Analysts Set New Price Targets

A number of brokerages have recently commented on TD. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Toronto Dominion Bank in a research report on Wednesday, January 21st. Wall Street Zen downgraded shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. National Bank Financial upgraded shares of Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research note on Thursday, December 18th. Raymond James Financial raised shares of Toronto Dominion Bank to a “hold” rating in a research report on Monday, November 24th. Finally, Jefferies Financial Group downgraded shares of Toronto Dominion Bank from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $93.00.

Toronto Dominion Bank Profile

Toronto-Dominion Bank (TD) is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. Formed through the 1955 merger of the Bank of Toronto (founded 1855) and the Dominion Bank (founded 1869), TD is one of Canada’s largest banks and offers a broad range of financial products and services to individual, small business, commercial and institutional clients.

TD’s core businesses include Canadian and U.S. personal and commercial banking, wealth management, wholesale banking and insurance.