Hsbc Holdings PLC Reduces Holdings in Toronto Dominion Bank (The) $TD

Hsbc Holdings PLC reduced its stake in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 95.1% in the 4th quarter, HoldingsChannel reports. The firm owned 63,499 shares of the bank’s stock after selling 1,224,013 shares during the quarter. Hsbc Holdings PLC’s holdings in Toronto Dominion Bank were worth $5,976,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TD. Bayban acquired a new stake in Toronto Dominion Bank during the 4th quarter valued at $28,000. Harvest Fund Management Co. Ltd increased its position in Toronto Dominion Bank by 112.8% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 317 shares of the bank’s stock worth $30,000 after buying an additional 168 shares in the last quarter. CBIZ Investment Advisory Services LLC acquired a new position in shares of Toronto Dominion Bank in the fourth quarter worth $34,000. Smartleaf Asset Management LLC raised its holdings in shares of Toronto Dominion Bank by 660.9% in the second quarter. Smartleaf Asset Management LLC now owns 525 shares of the bank’s stock worth $38,000 after acquiring an additional 456 shares during the last quarter. Finally, Cornerstone Planning Group LLC lifted its position in shares of Toronto Dominion Bank by 177.9% in the fourth quarter. Cornerstone Planning Group LLC now owns 428 shares of the bank’s stock valued at $40,000 after acquiring an additional 274 shares in the last quarter. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Zacks Research cut shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Scotiabank upgraded shares of Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Monday, May 4th. Raymond James Financial raised shares of Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 12th. Finally, 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 research note on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $156.00.

Toronto Dominion Bank Price Performance

TD opened at $119.81 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09. Toronto Dominion Bank has a 52-week low of $72.04 and a 52-week high of $120.98. The company has a 50 day moving average of $111.40 and a two-hundred day moving average of $100.75. The company has a market cap of $197.98 billion, a P/E ratio of 18.69, a P/E/G ratio of 1.33 and a beta of 0.72.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last issued its earnings results on Thursday, May 28th. The bank reported $1.74 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.11. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. The business had revenue of $11.80 billion for the quarter, compared to the consensus estimate of $11.04 billion. During the same quarter last year, the firm posted $1.97 EPS. The business’s revenue for the quarter was down 31.1% compared to the same quarter last year. On average, analysts expect that Toronto Dominion Bank will post 6.86 earnings per share for the current 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. The ex-dividend date is Friday, July 10th. This represents a $4.48 annualized dividend and a yield of 3.7%. This is an increase from Toronto Dominion Bank’s previous quarterly dividend of $1.08. Toronto Dominion Bank’s payout ratio is currently 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.