Montrusco Bolton Investments Inc. Sells 6,384 Shares of Toronto Dominion Bank (The) $TD

Montrusco Bolton Investments Inc. reduced its position in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 1.7% during the 1st quarter, HoldingsChannel reports. The firm owned 367,619 shares of the bank’s stock after selling 6,384 shares during the period. Montrusco Bolton Investments Inc.’s holdings in Toronto Dominion Bank were worth $34,224,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. AQR Capital Management LLC bought a new stake in shares of Toronto Dominion Bank in the first quarter valued at about $568,000. Focus Partners Wealth grew its holdings in Toronto Dominion Bank by 27.7% in the first quarter. Focus Partners Wealth now owns 24,970 shares of the bank’s stock worth $1,497,000 after purchasing an additional 5,410 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in Toronto Dominion Bank during the 2nd quarter worth $259,000. Cresset Asset Management LLC purchased a new stake in shares of Toronto Dominion Bank during the second quarter worth about $211,000. Finally, NewEdge Advisors LLC increased its stake in Toronto Dominion Bank by 25.3% during the 2nd quarter. NewEdge Advisors LLC now owns 8,039 shares of the bank’s stock valued at $590,000 after purchasing an additional 1,622 shares in the last quarter. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on TD shares. Raymond James Financial raised Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 12th. Wall Street Zen lowered shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Weiss Ratings cut shares of Toronto Dominion Bank from a “buy (b+)” rating to a “buy (b)” rating in a research note on Thursday, June 11th. Royal Bank Of Canada upped their price objective on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Finally, Zacks Research cut Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Toronto Dominion Bank presently has an average rating of “Moderate Buy” and a consensus price target of $156.00.

Toronto Dominion Bank Price Performance

Shares of Toronto Dominion Bank stock opened at $119.31 on Friday. The firm has a market cap of $197.15 billion, a PE ratio of 18.61, a P/E/G ratio of 1.33 and a beta of 0.71. Toronto Dominion Bank has a twelve month low of $72.21 and a twelve month high of $122.65. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09. The business has a 50-day moving average price of $112.94 and a 200 day moving average price of $101.81.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings data on Thursday, May 28th. The bank reported $1.74 EPS for the quarter, beating the consensus estimate of $1.63 by $0.11. The company had revenue of $11.80 billion for the quarter, compared to analyst estimates of $11.04 billion. Toronto Dominion Bank had a return on equity of 14.83% and a net margin of 13.20%.Toronto Dominion Bank’s quarterly revenue was down 31.1% compared to the same quarter last year. During the same period last year, the company earned $1.97 earnings per share. Sell-side analysts predict that Toronto Dominion Bank will post 6.86 earnings per share for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 10th will be issued a $1.12 dividend. This represents a $4.48 annualized dividend and a yield of 3.8%. The ex-dividend date of this dividend is Friday, July 10th. This is a boost from Toronto Dominion Bank’s previous quarterly dividend of $1.08. Toronto Dominion Bank’s payout ratio is presently 48.52%.

About Toronto Dominion Bank

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.