Bank of New York Mellon Corp Trims Stake in Toronto Dominion Bank (The) $TD

Bank of New York Mellon Corp reduced its position in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 2.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,665,402 shares of the bank’s stock after selling 41,078 shares during the period. Bank of New York Mellon Corp’s holdings in Toronto Dominion Bank were worth $156,881,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Main Line Retirement Advisors LLC increased its position in shares of Toronto Dominion Bank by 0.9% during the fourth quarter. Main Line Retirement Advisors LLC now owns 12,152 shares of the bank’s stock worth $1,145,000 after acquiring an additional 109 shares during the period. Rosenberg Matthew Hamilton boosted its stake in shares of Toronto Dominion Bank by 8.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 1,489 shares of the bank’s stock valued at $140,000 after purchasing an additional 118 shares in the last quarter. Richardson Financial Services Inc. boosted its stake in shares of Toronto Dominion Bank by 12.4% during the fourth quarter. Richardson Financial Services Inc. now owns 1,104 shares of the bank’s stock valued at $104,000 after purchasing an additional 122 shares in the last quarter. Commons Capital LLC boosted its stake in shares of Toronto Dominion Bank by 0.7% during the third quarter. Commons Capital LLC now owns 18,251 shares of the bank’s stock valued at $1,459,000 after purchasing an additional 134 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its stake in shares of Toronto Dominion Bank by 4.8% during the third quarter. CIBC Private Wealth Group LLC now owns 2,912 shares of the bank’s stock valued at $233,000 after purchasing an additional 134 shares in the last quarter. 52.37% of the stock is owned by hedge funds and other institutional investors.

Toronto Dominion Bank Trading Down 0.4%

NYSE TD opened at $113.26 on Friday. The company has a market capitalization of $187.15 billion, a PE ratio of 17.67, a P/E/G ratio of 1.25 and a beta of 0.72. The company has a fifty day moving average of $105.17 and a 200 day moving average of $97.14. Toronto Dominion Bank has a 1 year low of $69.86 and a 1 year high of $114.56. 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 announced its quarterly earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.11. Toronto Dominion Bank had a return on equity of 14.83% and a net margin of 13.20%.The company had revenue of $11.80 billion during the quarter, compared to the consensus estimate of $11.04 billion. During the same period in the previous year, the company posted $1.97 earnings per share. Toronto Dominion Bank’s revenue for the quarter was down 31.1% on a year-over-year basis. Research analysts forecast that Toronto Dominion Bank will post 6.92 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 10th will be given a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 4.0%. This is an increase from Toronto Dominion Bank’s previous quarterly dividend of $1.08. The ex-dividend date is Friday, July 10th. Toronto Dominion Bank’s payout ratio is currently 48.52%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Zacks Research downgraded shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Canadian Imperial Bank of Commerce lowered shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th. Weiss Ratings lowered shares of Toronto Dominion Bank from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday, May 29th. Royal Bank Of Canada lifted their price target on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an “outperform” rating in a report on Monday, June 1st. Finally, Scotiabank raised shares of Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Monday, May 4th. 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. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.