Letko Brosseau & Associates Inc. Purchases 174,845 Shares of The Toronto-Dominion Bank (NYSE:TD)

Letko Brosseau & Associates Inc. boosted its holdings in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 5.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,350,204 shares of the bank’s stock after acquiring an additional 174,845 shares during the period. Toronto-Dominion Bank makes up approximately 3.5% of Letko Brosseau & Associates Inc.’s investment portfolio, making the stock its 4th largest holding. Letko Brosseau & Associates Inc. owned 0.19% of Toronto-Dominion Bank worth $184,116,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in shares of Toronto-Dominion Bank by 6.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,044,900 shares of the bank’s stock worth $132,141,000 after buying an additional 130,801 shares during the period. Dixon Mitchell Investment Counsel Inc. raised its holdings in shares of Toronto-Dominion Bank by 2.7% in the first quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,388,528 shares of the bank’s stock valued at $83,881,000 after purchasing an additional 37,002 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Toronto-Dominion Bank in the first quarter worth $6,454,000. FORA Capital LLC acquired a new position in Toronto-Dominion Bank during the first quarter worth $4,025,000. Finally, V Square Quantitative Management LLC grew its position in Toronto-Dominion Bank by 5,032.5% in the fourth quarter. V Square Quantitative Management LLC now owns 15,808 shares of the bank’s stock valued at $1,022,000 after purchasing an additional 15,500 shares in the last quarter. 52.37% of the stock is currently owned by institutional investors.

Toronto-Dominion Bank Stock Performance

TD traded down $0.15 during trading hours on Friday, reaching $60.37. The company’s stock had a trading volume of 1,998,789 shares, compared to its average volume of 1,477,207. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02. The company’s 50-day moving average is $57.85 and its 200-day moving average is $57.70. The Toronto-Dominion Bank has a 52 week low of $53.52 and a 52 week high of $65.12. The firm has a market cap of $105.55 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 1.73 and a beta of 0.81.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings data 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 net margin of 6.94% and a return on equity of 14.34%. The company had revenue of $14.18 billion for the quarter, compared to analyst estimates of $9.40 billion. During the same period in the prior year, the firm earned $1.48 earnings per share. The company’s revenue was up 9.8% on a year-over-year basis. On average, equities analysts forecast that The Toronto-Dominion Bank will post 5.84 EPS for the current year.

Toronto-Dominion Bank Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.739 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date of this dividend is Thursday, October 10th. Toronto-Dominion Bank’s dividend payout ratio is presently 67.73%.

Analyst Ratings Changes

A number of research firms have recently commented on TD. Cibc World Mkts upgraded shares of Toronto-Dominion Bank from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 24th. UBS Group initiated coverage on Toronto-Dominion Bank in a research report on Tuesday, July 2nd. They set a “neutral” rating on the stock. BMO Capital Markets cut their price objective on Toronto-Dominion Bank from $86.00 to $84.00 and set a “market perform” rating for the company in a report on Friday, May 24th. National Bank Financial upgraded shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a report on Thursday, August 22nd. Finally, StockNews.com cut shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Toronto-Dominion Bank presently has an average rating of “Hold” and an average target price of $84.00.

About Toronto-Dominion Bank

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.