Allspring Global Investments Holdings LLC Sells 973 Shares of The Toronto-Dominion Bank (NYSE:TD)

Allspring Global Investments Holdings LLC lessened its holdings in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 3.5% in the first quarter, Holdings Channel reports. The institutional investor owned 26,970 shares of the bank’s stock after selling 973 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Toronto-Dominion Bank were worth $1,628,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Mather Group LLC. bought a new position in Toronto-Dominion Bank during the 1st quarter worth approximately $29,000. Bank of New Hampshire bought a new position in Toronto-Dominion Bank during the 4th quarter worth approximately $32,000. Avior Wealth Management LLC raised its holdings in Toronto-Dominion Bank by 92.9% during the 4th quarter. Avior Wealth Management LLC now owns 594 shares of the bank’s stock worth $38,000 after purchasing an additional 286 shares during the last quarter. Optiver Holding B.V. acquired a new stake in shares of Toronto-Dominion Bank during the 4th quarter worth approximately $39,000. Finally, Bruce G. Allen Investments LLC acquired a new stake in shares of Toronto-Dominion Bank during the 4th quarter worth approximately $50,000. Institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Stock Performance

NYSE TD opened at $55.70 on Friday. The company has a fifty day simple moving average of $55.87 and a 200 day simple moving average of $58.82. The Toronto-Dominion Bank has a 12-month low of $53.52 and a 12-month high of $66.15. 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 company has a market cap of $97.33 billion, a P/E ratio of 12.66, a PEG ratio of 1.53 and a beta of 0.82.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings results on Thursday, May 23rd. The bank reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.15. Toronto-Dominion Bank had a net margin of 9.96% and a return on equity of 14.38%. The business had revenue of $10.18 billion during the quarter, compared to the consensus estimate of $9.90 billion. Sell-side analysts predict that The Toronto-Dominion Bank will post 5.86 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 Wednesday, July 31st. Shareholders of record on Wednesday, July 10th will be paid a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a yield of 5.31%. The ex-dividend date is Wednesday, July 10th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 68.64%.

Analyst Upgrades and Downgrades

TD has been the subject of several recent analyst reports. Barclays initiated coverage on shares of Toronto-Dominion Bank in a research report on Wednesday, March 20th. They set an “equal weight” rating for the company. Scotiabank raised shares of Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, April 17th. StockNews.com downgraded shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday, June 27th. UBS Group initiated coverage on shares of Toronto-Dominion Bank in a research report on Tuesday. They set a “neutral” rating for the company. Finally, BMO Capital Markets reduced their price objective on shares of Toronto-Dominion Bank from $86.00 to $84.00 and set a “market perform” rating for the company in a research report on Friday, May 24th. Two investment 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 company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $88.00.

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.