Toronto Dominion Bank (The) $TD Stock Position Decreased by Park Avenue Securities LLC

Park Avenue Securities LLC cut its holdings in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 17.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,187 shares of the bank’s stock after selling 7,062 shares during the quarter. Park Avenue Securities LLC’s holdings in Toronto Dominion Bank were worth $3,901,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of TD. Dimensional Fund Advisors LP raised its stake in shares of Toronto Dominion Bank by 8.4% in the first quarter. Dimensional Fund Advisors LP now owns 7,565,982 shares of the bank’s stock valued at $705,950,000 after acquiring an additional 589,316 shares in the last quarter. Bank of America Corp DE grew its stake in Toronto Dominion Bank by 7.8% during the 1st quarter. Bank of America Corp DE now owns 4,967,545 shares of the bank’s stock worth $463,522,000 after purchasing an additional 358,412 shares in the last quarter. Bank of New York Mellon Corp acquired a new position in Toronto Dominion Bank during the 2nd quarter worth $202,900,000. SEB Asset Management AB purchased a new stake in Toronto Dominion Bank during the 1st quarter worth about $139,123,000. Finally, Hillsdale Investment Management Inc. increased its holdings in Toronto Dominion Bank by 3.0% during the 1st quarter. Hillsdale Investment Management Inc. now owns 1,201,500 shares of the bank’s stock worth $112,185,000 after purchasing an additional 34,921 shares during the period. Institutional investors and hedge funds own 52.37% of the company’s stock.

More Toronto Dominion Bank News

Here are the key news stories impacting Toronto Dominion Bank this week:

• Positive Sentiment: TD Canada Trust raised its prime rate by 25 basis points to 4.70%, matching increases from RBC, CIBC and BMO. Higher lending rates can support net interest income and loan profitability, although they may also increase repayment pressure on borrowers. TD Canada Trust announces change to TD Prime Rate
• Positive Sentiment: TD launched a mobile-app feature that allows customers to move money from another financial institution into a TD account more quickly and easily. The initiative could improve customer acquisition, deposit growth and digital engagement, though its immediate earnings impact is likely limited. TD makes moving money to a TD account faster and easier
• Neutral Sentiment: TD Asset Management announced risk-rating changes for certain TD exchange-traded funds. The changes affect specific ETF products and are not expected to materially alter the bank’s overall earnings outlook. TD Asset Management announces risk rating changes
• Neutral Sentiment: TD Bank U.S. appointed Amit Sahasrabudhe as chief operating officer. His background in financial-services operations, technology and business transformation may support execution, but the leadership change is not an immediate financial catalyst. TD appoints Amit Sahasrabudhe as U.S. COO
• Neutral Sentiment: The TD Charitable Foundation opened applications for its 2027 Housing for Everyone program, offering $10 million in grants. The announcement supports TD’s community and reputation objectives but should have little direct effect on valuation. TD Housing for Everyone grants
• Negative Sentiment: Marco Re reportedly filed a lawsuit against TD Bank involving a $35 million legacy dispute. The claim introduces legal and reputational uncertainty, although the ultimate financial impact is not yet clear. Marco Re sues TD Bank over $35 million legacy dispute

Toronto Dominion Bank Stock Performance

Shares of TD stock opened at $127.28 on Friday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.09. The firm has a fifty day moving average price of $120.33 and a 200 day moving average price of $110.30. The company has a market cap of $207.36 billion, a P/E ratio of 17.94, a PEG ratio of 1.26 and a beta of 0.75. Toronto Dominion Bank has a 12 month low of $79.52 and a 12 month high of $127.96.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings results on Thursday, August 27th. The bank reported $1.98 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.24. The company had revenue of $12.07 billion for the quarter, compared to analysts’ expectations of $10.70 billion. Toronto Dominion Bank had a return on equity of 14.88% and a net margin of 14.41%. Toronto Dominion Bank’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period last year, the firm earned $2.20 earnings per share. Sell-side analysts predict that Toronto Dominion Bank will post 7.04 earnings per share for the current fiscal year.

Toronto Dominion Bank Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, October 31st. Stockholders of record on Friday, October 9th will be issued a C$1.12 dividend. The ex-dividend date is Friday, October 9th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.5%. Toronto Dominion Bank’s dividend payout ratio is presently 46.81%.

Toronto Dominion Bank declared that its Board of Directors has initiated a share buyback plan on Wednesday, September 30th that allows the company to repurchase $7.14 billion in shares. This repurchase authorization allows the bank to repurchase up to 3.5% of its shares through open market purchases. Share repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

TD has been the subject of several recent research reports. Weiss Ratings upgraded Toronto Dominion Bank from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, October 21st. Keefe, Bruyette & Woods began coverage on shares of Toronto Dominion Bank in a report on Friday, August 21st. They issued a “market perform” rating on the stock. Finally, Wall Street Zen upgraded shares of Toronto Dominion Bank from a “sell” rating to a “hold” rating in a research note on Saturday, August 22nd. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $148.00.

About Toronto Dominion Bank

Toronto-Dominion Bank, operating as TD Bank Group, is a Canadian financial services company headquartered in Toronto, Ontario. The institution traces its history to the Bank of Toronto, founded in 1855, and the Dominion Bank, founded in 1869; the two banks merged in 1955 to form Toronto-Dominion Bank.

TD provides a broad range of banking and financial services through its Canadian and U.S. operations. Its offerings include personal and business deposit accounts, mortgages, consumer and commercial lending, credit cards, investment products, insurance, wealth management and financial advice.