Summit Securities Group LLC Cuts Stock Position in Toronto Dominion Bank (The) $TD

Summit Securities Group LLC lessened its holdings in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 69.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,700 shares of the bank’s stock after selling 6,000 shares during the period. Summit Securities Group LLC’s holdings in Toronto Dominion Bank were worth $252,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new position in Toronto Dominion Bank during the fourth quarter valued at $2,125,963,000. Auto Owners Insurance Co increased its holdings in shares of Toronto Dominion Bank by 9,320.0% in the 4th quarter. Auto Owners Insurance Co now owns 3,965,443 shares of the bank’s stock worth $396,544,000 after buying an additional 3,923,347 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Toronto Dominion Bank by 41.6% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,899,945 shares of the bank’s stock worth $1,121,660,000 after buying an additional 3,496,645 shares during the last quarter. Alberta Investment Management Corp purchased a new stake in shares of Toronto Dominion Bank during the 4th quarter valued at about $299,850,000. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Toronto Dominion Bank by 25.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,210,762 shares of the bank’s stock valued at $1,432,854,000 after buying an additional 3,129,457 shares in the last quarter. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Toronto Dominion Bank Stock Performance

Toronto Dominion Bank stock opened at $119.70 on Friday. The company has a 50 day moving average price of $114.12 and a 200-day moving average price of $102.66. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. Toronto Dominion Bank has a fifty-two week low of $72.21 and a fifty-two week high of $122.65. The company has a market capitalization of $197.80 billion, a PE ratio of 18.67, a P/E/G ratio of 1.32 and a beta of 0.71.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings data on Thursday, May 28th. The bank reported $1.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.11. The company had revenue of $11.80 billion for the quarter, compared to analysts’ expectations 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 revenue was down 31.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.97 earnings per share. As a group, equities analysts forecast that Toronto Dominion Bank will post 6.86 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 10th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, July 10th. This is a positive change from Toronto Dominion Bank’s previous quarterly dividend of $1.08. Toronto Dominion Bank’s dividend payout ratio is currently 48.52%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on TD shares. Wall Street Zen cut Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Zacks Research lowered Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Raymond James Financial upgraded Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 12th. Scotiabank raised Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, May 4th. Finally, Royal Bank Of Canada raised their price target on Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $156.00.

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.