Beutel Goodman & Co Ltd. Has $1.08 Billion Holdings in Toronto Dominion Bank (The) $TD

Beutel Goodman & Co Ltd. cut its position in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 3.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,740,291 shares of the bank’s stock after selling 580,103 shares during the quarter. Toronto Dominion Bank comprises 6.2% of Beutel Goodman & Co Ltd.’s investment portfolio, making the stock its biggest position. Beutel Goodman & Co Ltd.’s holdings in Toronto Dominion Bank were worth $1,081,998,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quaker Wealth Management LLC raised its holdings in shares of Toronto Dominion Bank by 200.0% in the 2nd quarter. Quaker Wealth Management LLC now owns 428 shares of the bank’s stock valued at $31,000 after acquiring an additional 856 shares in the last quarter. Elevation Point Wealth Partners LLC purchased a new stake in Toronto Dominion Bank in the second quarter worth approximately $32,000. Richardson Financial Services Inc. bought a new position in Toronto Dominion Bank during the second quarter valued at approximately $34,000. Tobam raised its position in Toronto Dominion Bank by 44.5% in the 2nd quarter. Tobam now owns 490 shares of the bank’s stock worth $36,000 after purchasing an additional 151 shares during the period. Finally, VSM Wealth Advisory LLC bought a new stake in Toronto Dominion Bank in the second quarter worth $39,000. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TD has been the subject of several analyst reports. Desjardins raised shares of Toronto Dominion Bank from a “hold” rating to a “buy” rating in a research report on Wednesday, August 13th. Raymond James Financial raised Toronto Dominion Bank to a “hold” rating in a research note on Monday, November 24th. Weiss Ratings reissued a “buy (b)” rating on shares of Toronto Dominion Bank in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Toronto Dominion Bank from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Finally, Royal Bank Of Canada raised Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research report on Friday, October 3rd. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $93.00.

Toronto Dominion Bank Stock Up 2.0%

Shares of Toronto Dominion Bank stock opened at $86.04 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.09. Toronto Dominion Bank has a twelve month low of $51.25 and a twelve month high of $86.34. The company has a market cap of $145.36 billion, a price-to-earnings ratio of 10.05, a price-to-earnings-growth ratio of 1.39 and a beta of 0.69. The company’s 50 day moving average is $81.33 and its 200 day moving average is $75.99.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings data on Thursday, December 4th. The bank reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.10. Toronto Dominion Bank had a return on equity of 13.59% and a net margin of 16.40%.The company had revenue of $11.44 billion during the quarter, compared to analysts’ expectations of $10.10 billion. During the same quarter in the prior year, the business earned $1.72 earnings per share. Toronto Dominion Bank’s revenue for the quarter was down .1% compared to the same quarter last year. Research analysts anticipate that Toronto Dominion Bank will post 5.48 EPS for the current year.

Toronto Dominion Bank Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, January 31st. Shareholders of record on Friday, January 9th will be issued a dividend of $1.08 per share. This is an increase from Toronto Dominion Bank’s previous quarterly dividend of $1.05. This represents a $4.32 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Friday, January 9th. Toronto Dominion Bank’s payout ratio is presently 35.28%.

Toronto Dominion Bank Profile

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.