Means Investment CO. Inc. Lowers Stake in The Toronto-Dominion Bank (NYSE:TD)

Means Investment CO. Inc. reduced its stake in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 19.6% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,399 shares of the bank’s stock after selling 1,069 shares during the quarter. Means Investment CO. Inc.’s holdings in Toronto-Dominion Bank were worth $242,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Family Legacy Inc. lifted its stake in Toronto-Dominion Bank by 0.7% in the first quarter. Family Legacy Inc. now owns 26,351 shares of the bank’s stock worth $1,591,000 after acquiring an additional 172 shares during the period. Park Avenue Securities LLC lifted its stake in Toronto-Dominion Bank by 5.3% in the first quarter. Park Avenue Securities LLC now owns 3,641 shares of the bank’s stock worth $220,000 after acquiring an additional 184 shares during the period. Consolidated Portfolio Review Corp lifted its stake in Toronto-Dominion Bank by 1.6% in the first quarter. Consolidated Portfolio Review Corp now owns 11,583 shares of the bank’s stock worth $699,000 after acquiring an additional 186 shares during the period. First Affirmative Financial Network lifted its stake in Toronto-Dominion Bank by 1.9% in the second quarter. First Affirmative Financial Network now owns 10,120 shares of the bank’s stock worth $556,000 after acquiring an additional 190 shares during the period. Finally, Wright Investors Service Inc. lifted its stake in Toronto-Dominion Bank by 0.5% in the first quarter. Wright Investors Service Inc. now owns 35,158 shares of the bank’s stock worth $2,123,000 after acquiring an additional 191 shares during the period. 52.37% of the stock is owned by hedge funds and other institutional investors.

Toronto-Dominion Bank Stock Performance

TD opened at $59.41 on Tuesday. The Toronto-Dominion Bank has a 52-week low of $53.52 and a 52-week high of $65.12. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.11. The company has a market cap of $103.81 billion, a P/E ratio of 13.50, a price-to-earnings-growth ratio of 1.59 and a beta of 0.82. The firm’s 50-day moving average price is $56.44 and its 200-day moving average price is $57.66.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings results on Thursday, May 23rd. The bank reported $1.50 earnings per share for the quarter, topping 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 company had revenue of $10.18 billion for the quarter, compared to the consensus estimate of $9.90 billion. As a group, equities analysts anticipate that The Toronto-Dominion Bank will post 5.87 EPS for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th were issued a $0.74 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $2.96 annualized dividend and a yield of 4.98%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 67.73%.

Analyst Upgrades and Downgrades

TD has been the subject of a number of recent research reports. Cibc World Mkts upgraded shares of Toronto-Dominion Bank from a “hold” rating to a “strong-buy” rating in a report on Friday, May 24th. StockNews.com upgraded shares of Toronto-Dominion Bank from a “sell” rating to a “hold” rating in a report on Wednesday, August 14th. BMO Capital Markets reduced their target price on shares of 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. UBS Group initiated coverage on shares of Toronto-Dominion Bank in a report on Tuesday, July 2nd. They issued a “neutral” rating for the company. Finally, National Bank Financial downgraded shares of Toronto-Dominion Bank from a “sector perform” rating to an “underperform” rating in a report on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target 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.