The Manufacturers Life Insurance Company Decreases Stake in Toronto Dominion Bank (The) $TD

The Manufacturers Life Insurance Company trimmed its holdings in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 0.5% during the 1st quarter, Holdings Channel.com reports. The fund owned 16,927,399 shares of the bank’s stock after selling 87,437 shares during the period. Toronto Dominion Bank accounts for about 1.4% of The Manufacturers Life Insurance Company’s portfolio, making the stock its 10th largest position. The Manufacturers Life Insurance Company’s holdings in Toronto Dominion Bank were worth $1,579,471,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Main Line Retirement Advisors LLC raised its stake in Toronto Dominion Bank by 0.8% during the 1st quarter. Main Line Retirement Advisors LLC now owns 12,254 shares of the bank’s stock valued at $1,143,000 after purchasing an additional 102 shares during the period. Chicago Partners Investment Group LLC grew its holdings in Toronto Dominion Bank by 1.8% during the 1st quarter. Chicago Partners Investment Group LLC now owns 5,735 shares of the bank’s stock valued at $535,000 after buying an additional 102 shares in the last quarter. Checchi Capital Advisers LLC grew its holdings in Toronto Dominion Bank by 1.5% during the 1st quarter. Checchi Capital Advisers LLC now owns 7,194 shares of the bank’s stock valued at $671,000 after buying an additional 104 shares in the last quarter. Richardson Financial Services Inc. raised its position in shares of Toronto Dominion Bank by 12.4% during the fourth quarter. Richardson Financial Services Inc. now owns 1,104 shares of the bank’s stock valued at $104,000 after buying an additional 122 shares during the last quarter. Finally, Valmark Advisers Inc. raised its position in shares of Toronto Dominion Bank by 0.8% during the first quarter. Valmark Advisers Inc. now owns 16,057 shares of the bank’s stock valued at $1,498,000 after buying an additional 122 shares during the last quarter. Institutional investors own 52.37% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on TD. Raymond James Financial upgraded shares of Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 12th. Weiss Ratings downgraded shares of Toronto Dominion Bank from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 21st. Royal Bank Of Canada boosted their price target on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. Zacks Research lowered Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Finally, Scotiabank raised Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $156.00.

Toronto Dominion Bank Stock Down 0.2%

NYSE TD opened at $119.60 on Tuesday. The stock has a 50 day moving average price of $117.51 and a 200-day moving average price of $104.94. Toronto Dominion Bank has a one year low of $72.21 and a one year high of $124.87. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $196.72 billion, a P/E ratio of 18.66, a P/E/G ratio of 1.34 and a beta of 0.71.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.11. The company had revenue of $11.80 billion for 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%. Toronto Dominion Bank’s quarterly revenue was down 31.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.97 earnings per share. As a group, equities analysts predict that Toronto Dominion Bank will post 6.86 EPS for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 10th will be given a dividend of $1.12 per share. The ex-dividend date is Friday, July 10th. This represents a $4.48 annualized dividend and a dividend yield of 3.7%. This is a positive change from Toronto Dominion Bank’s previous quarterly dividend of $1.08. Toronto Dominion Bank’s dividend payout ratio is currently 49.14%.

Toronto Dominion Bank Company 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.