Letko Brosseau & Associates Inc. Sells 289,275 Shares of Toronto Dominion Bank (The) $TD

Letko Brosseau & Associates Inc. trimmed its position in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 9.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,742,748 shares of the bank’s stock after selling 289,275 shares during the quarter. Toronto Dominion Bank makes up 4.2% of Letko Brosseau & Associates Inc.’s holdings, making the stock its 3rd biggest holding. Letko Brosseau & Associates Inc.’s holdings in Toronto Dominion Bank were worth $258,838,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd boosted 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 valued at $30,000 after purchasing an additional 168 shares in the last quarter. CBIZ Investment Advisory Services LLC bought a new position in shares of Toronto Dominion Bank during the fourth quarter worth about $34,000. Smartleaf Asset Management LLC raised its position in shares of Toronto Dominion Bank by 660.9% during the second quarter. Smartleaf Asset Management LLC now owns 525 shares of the bank’s stock worth $38,000 after acquiring an additional 456 shares during the last quarter. Cornerstone Planning Group LLC raised its position in shares of Toronto Dominion Bank by 177.9% during the fourth quarter. Cornerstone Planning Group LLC now owns 428 shares of the bank’s stock worth $40,000 after acquiring an additional 274 shares during the last quarter. Finally, Sound Income Strategies LLC raised its position in shares of Toronto Dominion Bank by 80.6% during the fourth quarter. Sound Income Strategies LLC now owns 466 shares of the bank’s stock worth $44,000 after acquiring an additional 208 shares during the last quarter. 52.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Zacks Research downgraded Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Royal Bank Of Canada raised their price objective on 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 (a-)” rating to a “buy (b+)” rating in a research report on Friday, May 29th. Scotiabank upgraded Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, May 4th. Finally, Canadian Imperial Bank of Commerce downgraded Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $156.00.

Toronto Dominion Bank Price Performance

Shares of TD opened at $114.66 on Wednesday. Toronto Dominion Bank has a 1 year low of $70.00 and a 1 year high of $115.40. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market capitalization of $189.47 billion, a price-to-earnings ratio of 17.89, a price-to-earnings-growth ratio of 1.26 and a beta of 0.72. The business has a 50-day moving average of $106.06 and a 200-day moving average of $97.71.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last issued its earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.11. The business had revenue of $11.80 billion during the quarter, compared to the consensus estimate of $11.04 billion. Toronto Dominion Bank had a return on equity of 14.83% and a net margin of 13.20%.The firm’s revenue for the quarter 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. As a group, equities research analysts anticipate that Toronto Dominion Bank will post 6.92 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 10th will be issued a $1.12 dividend. The ex-dividend date 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 3.9%. Toronto Dominion Bank’s dividend payout ratio is presently 48.52%.

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.