Investors Research Corp Sells 5,589 Shares of Toronto Dominion Bank (The) $TD

Investors Research Corp lessened its holdings in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 91.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 498 shares of the bank’s stock after selling 5,589 shares during the period. Investors Research Corp’s holdings in Toronto Dominion Bank were worth $60,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Toronto Dominion Bank by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 77,252,688 shares of the bank’s stock worth $7,280,911,000 after purchasing an additional 765,107 shares in the last quarter. Norges Bank purchased a new position in Toronto Dominion Bank in the 4th quarter worth approximately $2,125,963,000. Bank of Nova Scotia lifted its holdings in Toronto Dominion Bank by 6.8% in the 4th quarter. Bank of Nova Scotia now owns 19,486,741 shares of the bank’s stock worth $1,836,518,000 after purchasing an additional 1,234,510 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Toronto Dominion Bank by 10.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 17,014,836 shares of the bank’s stock worth $1,606,978,000 after purchasing an additional 1,629,062 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Toronto Dominion Bank by 6.1% in the 4th quarter. Geode Capital Management LLC now owns 16,747,071 shares of the bank’s stock worth $1,610,733,000 after purchasing an additional 968,122 shares during the period. 52.37% of the stock is owned by institutional investors.

Toronto Dominion Bank Stock Up 1.6%

Shares of TD opened at $123.28 on Thursday. The stock has a market capitalization of $202.77 billion, a price-to-earnings ratio of 19.23, a price-to-earnings-growth ratio of 1.35 and a beta of 0.72. Toronto Dominion Bank has a 1 year low of $72.73 and a 1 year high of $124.87. The business’s 50 day simple moving average is $119.64 and its 200-day simple moving average is $107.19. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last posted its earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share 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 firm had revenue of $11.80 billion during the quarter, compared to analyst estimates of $11.04 billion. During the same period last year, the firm posted $1.97 earnings per share. Toronto Dominion Bank’s revenue for the quarter was down 31.1% compared to the same quarter last year. As a group, equities analysts expect that Toronto Dominion Bank will post 6.86 earnings per share for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 10th were issued a $1.12 dividend. This is a boost from Toronto Dominion Bank’s previous quarterly dividend of $1.08. The ex-dividend date was Friday, July 10th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.6%. Toronto Dominion Bank’s payout ratio is presently 49.14%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on TD shares. Scotiabank upgraded shares of Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, May 4th. 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. Royal Bank Of Canada raised their target price 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. Weiss Ratings upgraded shares of Toronto Dominion Bank from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, August 5th. Finally, Zacks Research downgraded shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Toronto Dominion Bank currently has an average rating of “Moderate Buy” and an average price target of $156.00.

Toronto Dominion Bank Company 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.