The Toronto-Dominion Bank (NYSE:TD) Shares Sold by Clearbridge Investments LLC

Clearbridge Investments LLC trimmed its holdings in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 1.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,852,337 shares of the bank’s stock after selling 35,060 shares during the period. Clearbridge Investments LLC owned 0.16% of Toronto-Dominion Bank worth $172,224,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Davis R M Inc. boosted its stake in Toronto-Dominion Bank by 13.5% in the 1st quarter. Davis R M Inc. now owns 11,288 shares of the bank’s stock worth $682,000 after buying an additional 1,342 shares during the last quarter. Nicola Wealth Management LTD. boosted its stake in Toronto-Dominion Bank by 9.9% in the 1st quarter. Nicola Wealth Management LTD. now owns 342,002 shares of the bank’s stock worth $20,650,000 after buying an additional 30,800 shares during the last quarter. Chiron Capital Management LLC acquired a new stake in Toronto-Dominion Bank in the 1st quarter worth about $489,000. Ontario Teachers Pension Plan Board purchased a new position in shares of Toronto-Dominion Bank in the 1st quarter worth about $530,000. Finally, Acadian Asset Management LLC raised its holdings in shares of Toronto-Dominion Bank by 582.5% in the 1st quarter. Acadian Asset Management LLC now owns 124,900 shares of the bank’s stock worth $7,542,000 after purchasing an additional 106,600 shares during the period. 52.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TD shares. BMO Capital Markets cut their price objective on Toronto-Dominion Bank from $86.00 to $84.00 and set a “market perform” rating on the stock in a report on Friday, May 24th. StockNews.com downgraded Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Tuesday. Cibc World Mkts upgraded Toronto-Dominion Bank from a “hold” rating to a “strong-buy” rating in a report on Friday, May 24th. Scotiabank upgraded Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, April 17th. Finally, UBS Group started coverage on Toronto-Dominion Bank in a report on Tuesday, July 2nd. They issued a “neutral” rating on the stock. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $88.00.

Toronto-Dominion Bank Stock Down 0.3 %

TD stock traded down $0.19 during midday trading on Tuesday, hitting $58.03. 2,125,458 shares of the company’s stock were exchanged, compared to its average volume of 2,902,089. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.11. The Toronto-Dominion Bank has a 12-month low of $53.52 and a 12-month high of $66.15. The firm has a 50 day moving average price of $55.80 and a 200-day moving average price of $58.09. The stock has a market capitalization of $101.39 billion, a price-to-earnings ratio of 13.19, a price-to-earnings-growth ratio of 1.59 and a beta of 0.82.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings data on Thursday, May 23rd. The bank reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.15. Toronto-Dominion Bank had a return on equity of 14.38% and a net margin of 9.96%. The company had revenue of $10.18 billion for the quarter, compared to the consensus estimate of $9.90 billion. On average, analysts anticipate that The Toronto-Dominion Bank will post 5.86 EPS for the current year.

Toronto-Dominion Bank Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 10th will be issued a dividend of $0.74 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $2.96 annualized dividend and a yield of 5.10%. Toronto-Dominion Bank’s dividend payout ratio is presently 67.73%.

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.