Tower Bridge Advisors Sells 2,266 Shares of The Toronto-Dominion Bank (NYSE:TD)

Tower Bridge Advisors decreased its holdings in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 30.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,067 shares of the bank’s stock after selling 2,266 shares during the period. Tower Bridge Advisors’ holdings in Toronto-Dominion Bank were worth $321,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. National Bank of Canada FI raised its holdings in shares of Toronto-Dominion Bank by 6.2% in the first quarter. National Bank of Canada FI now owns 29,655,117 shares of the bank’s stock worth $1,677,917,000 after buying an additional 1,736,931 shares during the period. Mackenzie Financial Corp increased its holdings in Toronto-Dominion Bank by 0.8% during the 2nd quarter. Mackenzie Financial Corp now owns 25,997,122 shares of the bank’s stock worth $1,429,186,000 after purchasing an additional 218,807 shares during the period. 1832 Asset Management L.P. increased its holdings in Toronto-Dominion Bank by 6.0% during the 2nd quarter. 1832 Asset Management L.P. now owns 25,803,480 shares of the bank’s stock worth $1,418,159,000 after purchasing an additional 1,462,794 shares during the period. CIBC Asset Management Inc increased its holdings in Toronto-Dominion Bank by 5.4% during the 3rd quarter. CIBC Asset Management Inc now owns 16,515,643 shares of the bank’s stock worth $1,046,825,000 after purchasing an additional 853,313 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Toronto-Dominion Bank by 9.6% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 13,814,269 shares of the bank’s stock valued at $759,449,000 after acquiring an additional 1,206,574 shares in the last quarter. Institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Stock Performance

NYSE TD opened at $55.93 on Monday. The stock has a 50-day simple moving average of $59.46 and a two-hundred day simple moving average of $57.73. The firm has a market capitalization of $97.79 billion, a P/E ratio of 17.87, a PEG ratio of 1.59 and a beta of 0.82. The Toronto-Dominion Bank has a fifty-two week low of $53.52 and a fifty-two week high of $65.12. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.56. Toronto-Dominion Bank had a return on equity of 14.34% and a net margin of 6.94%. The firm had revenue of $14.18 billion during the quarter, compared to analyst estimates of $9.40 billion. During the same quarter in the previous year, the business earned $1.48 EPS. Toronto-Dominion Bank’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities analysts forecast that The Toronto-Dominion Bank will post 5.8 earnings per share for the current year.

Toronto-Dominion Bank Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were paid a dividend of $0.739 per share. The ex-dividend date was Thursday, October 10th. This represents a $2.96 annualized dividend and a yield of 5.29%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is currently 96.49%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TD shares. Royal Bank of Canada cut Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research report on Friday, October 11th. National Bank Financial raised Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research report on Thursday, August 22nd. Finally, StockNews.com cut Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $84.00.

Toronto-Dominion Bank Company 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.