Eagle Ridge Investment Management Raises Position in The Toronto-Dominion Bank (NYSE:TD)

Eagle Ridge Investment Management lifted its stake in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 5.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 145,328 shares of the bank’s stock after buying an additional 7,182 shares during the period. Eagle Ridge Investment Management’s holdings in Toronto-Dominion Bank were worth $9,193,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Triad Wealth Partners LLC purchased a new stake in Toronto-Dominion Bank in the 2nd quarter valued at about $31,000. Blue Trust Inc. increased its position in shares of Toronto-Dominion Bank by 50.7% during the second quarter. Blue Trust Inc. now owns 630 shares of the bank’s stock valued at $38,000 after acquiring an additional 212 shares during the last quarter. Kimelman & Baird LLC purchased a new stake in shares of Toronto-Dominion Bank during the second quarter valued at approximately $49,000. BOKF NA lifted its holdings in Toronto-Dominion Bank by 203.6% during the first quarter. BOKF NA now owns 1,014 shares of the bank’s stock worth $61,000 after acquiring an additional 680 shares during the period. Finally, Eastern Bank purchased a new position in Toronto-Dominion Bank in the third quarter worth $66,000. Institutional investors own 52.37% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TD. UBS Group started coverage on shares of Toronto-Dominion Bank in a research report on Tuesday, July 2nd. They set a “neutral” rating for the company. National Bank Financial raised shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a report on Thursday, August 22nd. Royal Bank of Canada downgraded shares of Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research note on Friday, October 11th. Finally, StockNews.com cut shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Toronto-Dominion Bank currently has an average rating of “Hold” and a consensus target price of $84.00.

Toronto-Dominion Bank Trading Up 0.2 %

Toronto-Dominion Bank stock opened at $56.85 on Friday. The stock has a market cap of $99.40 billion, a P/E ratio of 18.16, a PEG ratio of 1.68 and a beta of 0.81. The Toronto-Dominion Bank has a fifty-two week low of $53.52 and a fifty-two week high of $65.12. The firm’s fifty day moving average price is $60.61 and its 200-day moving average price is $57.98. 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 released 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. The firm had revenue of $14.18 billion for the quarter, compared to analysts’ expectations of $9.40 billion. Toronto-Dominion Bank had a return on equity of 14.34% and a net margin of 6.94%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.48 EPS. Equities research analysts forecast that The Toronto-Dominion Bank will post 5.82 earnings per share for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.739 per share. This represents a $2.96 annualized dividend and a dividend yield of 5.20%. The ex-dividend date of this dividend is Thursday, October 10th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is currently 96.49%.

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.