Bank of Nova Scotia Has $1.17 Billion Holdings in Toronto Dominion Bank (The) $TD

Bank of Nova Scotia trimmed its position in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 35.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,511,563 shares of the bank’s stock after selling 6,975,178 shares during the quarter. Toronto Dominion Bank accounts for 1.9% of Bank of Nova Scotia’s investment portfolio, making the stock its 13th largest holding. Bank of Nova Scotia’s holdings in Toronto Dominion Bank were worth $1,168,207,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Bayban acquired a new stake in Toronto Dominion Bank in the 4th quarter valued at $28,000. Harvest Fund Management Co. Ltd raised its holdings in Toronto Dominion Bank by 112.8% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 317 shares of the bank’s stock worth $30,000 after buying an additional 168 shares during the last quarter. CBIZ Investment Advisory Services LLC bought a new position in shares of Toronto Dominion Bank in the fourth quarter valued at $34,000. Smartleaf Asset Management LLC lifted its stake in shares of Toronto Dominion Bank by 660.9% in the second quarter. Smartleaf Asset Management LLC now owns 525 shares of the bank’s stock valued at $38,000 after buying an additional 456 shares in the last quarter. Finally, Brown Lisle Cummings Inc. grew its holdings in shares of Toronto Dominion Bank by 88.4% during the first quarter. Brown Lisle Cummings Inc. now owns 407 shares of the bank’s stock valued at $38,000 after buying an additional 191 shares during the last quarter. 52.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on TD. Royal Bank Of Canada boosted their target price on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Weiss Ratings downgraded Toronto Dominion Bank from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday. Scotiabank raised Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Monday, May 4th. Zacks Research downgraded Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 27th. Finally, Raymond James Financial upgraded Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Toronto Dominion Bank presently has an average rating of “Moderate Buy” and an average price target of $156.00.

Toronto Dominion Bank Trading Down 1.8%

NYSE:TD opened at $119.15 on Friday. Toronto Dominion Bank has a 12 month low of $72.21 and a 12 month high of $124.87. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09. The firm’s 50 day moving average is $117.04 and its 200 day moving average is $104.60. The stock has a market capitalization of $195.98 billion, a PE ratio of 18.59, a price-to-earnings-growth ratio of 1.35 and a beta of 0.71.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last issued its earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.11. The firm had revenue of $11.80 billion for the quarter, compared to analyst estimates of $11.04 billion. Toronto Dominion Bank had a return on equity of 14.83% and a net margin of 13.20%.The business’s revenue was down 31.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.97 earnings per share. Sell-side analysts expect that Toronto Dominion Bank will post 6.86 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. Investors of record on Friday, July 10th will be paid a $1.12 dividend. The ex-dividend date is Friday, July 10th. This represents a $4.48 dividend on an annualized basis and a yield of 3.8%. This is an increase from Toronto Dominion Bank’s previous quarterly dividend of $1.08. Toronto Dominion Bank’s dividend payout ratio (DPR) is presently 49.14%.

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.