Toronto Dominion Bank (The) $TD Position Reduced by Lincluden Management Ltd.

Lincluden Management Ltd. decreased its stake in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 9.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 906,632 shares of the bank’s stock after selling 94,507 shares during the period. Toronto Dominion Bank comprises approximately 8.2% of Lincluden Management Ltd.’s holdings, making the stock its largest position. Lincluden Management Ltd.’s holdings in Toronto Dominion Bank were worth $72,064,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Canerector Inc. increased its position in shares of Toronto Dominion Bank by 11,028.0% during the third quarter. Canerector Inc. now owns 22,256,000 shares of the bank’s stock worth $1,779,367,000 after acquiring an additional 22,056,000 shares during the period. Norges Bank purchased a new stake in shares of Toronto Dominion Bank in the second quarter valued at approximately $1,543,639,000. Picton Mahoney Asset Management purchased a new stake in shares of Toronto Dominion Bank in the second quarter valued at approximately $267,475,000. Vanguard Group Inc. grew its stake in Toronto Dominion Bank by 3.4% in the second quarter. Vanguard Group Inc. now owns 77,187,442 shares of the bank’s stock worth $5,677,291,000 after purchasing an additional 2,552,603 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its stake in Toronto Dominion Bank by 1,477.7% in the second quarter. Public Sector Pension Investment Board now owns 2,666,729 shares of the bank’s stock worth $195,749,000 after purchasing an additional 2,497,700 shares in the last quarter. 52.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Jefferies Financial Group lowered Toronto Dominion Bank from a “buy” rating to a “hold” rating in a research report on Tuesday, November 25th. Zacks Research raised Toronto Dominion Bank from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 18th. Weiss Ratings restated a “buy (b)” rating on shares of Toronto Dominion Bank in a research note on Wednesday, January 21st. Wall Street Zen raised shares of Toronto Dominion Bank from a “sell” rating to a “hold” rating in a research note on Monday, March 2nd. Finally, Raymond James Financial upgraded shares of Toronto Dominion Bank to a “hold” rating in a report on Monday, November 24th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.00.

Toronto Dominion Bank Price Performance

NYSE TD opened at $95.25 on Tuesday. The firm’s fifty day simple moving average is $95.46 and its two-hundred day simple moving average is $87.41. The firm has a market capitalization of $159.18 billion, a P/E ratio of 10.52, a P/E/G ratio of 1.06 and a beta of 0.66. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.09. Toronto Dominion Bank has a 12-month low of $54.87 and a 12-month high of $99.84.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings data on Thursday, February 26th. The bank reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.13. Toronto Dominion Bank had a return on equity of 14.29% and a net margin of 17.52%.The firm had revenue of $11.01 billion during the quarter, compared to analysts’ expectations of $10.43 billion. During the same quarter last year, the firm earned $2.02 EPS. The business’s quarterly revenue was up 18.1% on a year-over-year basis. Analysts forecast that Toronto Dominion Bank will post 5.48 EPS for the current fiscal year.

Toronto Dominion Bank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 9th will be paid a $1.08 dividend. The ex-dividend date is Thursday, April 9th. This represents a $4.32 dividend on an annualized basis and a yield of 4.5%. Toronto Dominion Bank’s dividend payout ratio (DPR) is 34.81%.

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.