Burgundy Asset Management Ltd. Sells 25,273 Shares of Toronto Dominion Bank (The) $TD

Burgundy Asset Management Ltd. reduced its holdings in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 1.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,908,467 shares of the bank’s stock after selling 25,273 shares during the quarter. Burgundy Asset Management Ltd. owned about 0.11% of Toronto Dominion Bank worth $140,111,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Triasima Portfolio Management inc. bought a new stake in Toronto Dominion Bank in the second quarter valued at $8,492,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Toronto Dominion Bank by 41.9% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,407,273 shares of the bank’s stock valued at $264,134,000 after buying an additional 1,302,281 shares during the period. Picton Mahoney Asset Management bought a new stake in Toronto Dominion Bank in the 2nd quarter valued at about $267,475,000. Bank of New York Mellon Corp raised its stake in Toronto Dominion Bank by 3.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,658,144 shares of the bank’s stock worth $121,791,000 after buying an additional 51,698 shares during the period. Finally, Ontario Teachers Pension Plan Board boosted its holdings in Toronto Dominion Bank by 304.0% in the second quarter. Ontario Teachers Pension Plan Board now owns 2,446,307 shares of the bank’s stock worth $180,047,000 after acquiring an additional 1,840,747 shares in the last quarter. 52.37% of the stock is currently owned by institutional investors.

Toronto Dominion Bank Stock Performance

Shares of TD stock opened at $88.34 on Friday. The firm has a 50-day moving average of $81.51 and a 200-day moving average of $76.23. The company has a market cap of $149.24 billion, a P/E ratio of 10.49, a P/E/G ratio of 1.46 and a beta of 0.69. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.02 and a quick ratio of 1.02. Toronto Dominion Bank has a one year low of $51.25 and a one year high of $88.45.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings results on Thursday, December 4th. The bank reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.10. The business had revenue of $11.44 billion for the quarter, compared to analysts’ expectations of $10.10 billion. Toronto Dominion Bank had a net margin of 16.53% and a return on equity of 14.00%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.72 earnings per share. Equities research analysts forecast that Toronto Dominion Bank will post 5.48 EPS for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, January 31st. Stockholders of record on Friday, January 9th will be issued a $1.08 dividend. This is a boost from Toronto Dominion Bank’s previous quarterly dividend of $1.05. This represents a $4.32 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Friday, January 9th. Toronto Dominion Bank’s dividend payout ratio is currently 36.70%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TD shares. Weiss Ratings restated a “buy (b)” rating on shares of Toronto Dominion Bank in a report on Wednesday, October 8th. Raymond James Financial upgraded shares of Toronto Dominion Bank to a “hold” rating in a research note on Monday, November 24th. Wall Street Zen upgraded shares of Toronto Dominion Bank from a “sell” rating to a “hold” rating in a report on Saturday, November 15th. Jefferies Financial Group cut shares of Toronto Dominion Bank from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Finally, Desjardins upgraded shares of Toronto Dominion Bank from a “hold” rating to a “buy” rating in a report on Wednesday, August 13th. Five investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Toronto Dominion Bank currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.00.

About Toronto Dominion Bank

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.