Bank of New York Mellon Corp Sells 69,889 Shares of Toronto Dominion Bank (The) $TD

Bank of New York Mellon Corp trimmed its position in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 4.2% in the first quarter, Holdings Channel.com reports. The firm owned 1,595,513 shares of the bank’s stock after selling 69,889 shares during the period. Bank of New York Mellon Corp’s holdings in Toronto Dominion Bank were worth $148,877,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bayban acquired a new stake in shares of Toronto Dominion Bank during the 4th quarter worth approximately $28,000. Harvest Fund Management Co. Ltd raised its stake in shares of 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 acquired a new position in Toronto Dominion Bank in the fourth quarter valued at approximately $34,000. Brown Lisle Cummings Inc. lifted its holdings in Toronto Dominion Bank by 88.4% in 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 period. Finally, Smartleaf Asset Management LLC boosted its stake in 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 acquiring an additional 456 shares during the last quarter. 52.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Wall Street Zen lowered shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Scotiabank raised Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, May 4th. Weiss Ratings lowered Toronto Dominion Bank from a “buy (b+)” rating to a “buy (b)” rating in a research report on Thursday, June 11th. Zacks Research cut 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 equities 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.com, Toronto Dominion Bank has a consensus rating of “Moderate Buy” and an average price target of $156.00.

Toronto Dominion Bank Trading Up 0.1%

Shares of NYSE TD opened at $123.69 on Monday. Toronto Dominion Bank has a twelve month low of $72.21 and a twelve month high of $124.87. The stock has a market cap of $203.95 billion, a price-to-earnings ratio of 19.30, a P/E/G ratio of 1.38 and a beta of 0.71. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09. The company’s fifty day moving average is $116.01 and its 200-day moving average is $103.87.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings data on Thursday, May 28th. The bank reported $1.74 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.11. The business had revenue of $11.80 billion during the quarter, compared to analysts’ expectations of $11.04 billion. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. The firm’s quarterly revenue was down 31.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.97 EPS. Equities research analysts predict that Toronto Dominion Bank will post 6.86 EPS for the current year.

Toronto Dominion Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 10th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Friday, July 10th. This is an increase from Toronto Dominion Bank’s previous quarterly dividend of $1.08. This represents a $4.48 dividend on an annualized basis and a yield of 3.6%. Toronto Dominion Bank’s payout ratio is presently 49.14%.

Toronto Dominion Bank 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.