Burgundy Asset Management Ltd. Has $52.20 Million Stake in The Toronto-Dominion Bank (NYSE:TD)

Burgundy Asset Management Ltd. lifted its stake in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 12.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 949,985 shares of the bank’s stock after purchasing an additional 102,782 shares during the quarter. Burgundy Asset Management Ltd.’s holdings in Toronto-Dominion Bank were worth $52,195,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Sienna Gestion lifted its position in shares of Toronto-Dominion Bank by 1.3% during the 2nd quarter. Sienna Gestion now owns 226,193 shares of the bank’s stock valued at $12,424,000 after acquiring an additional 2,822 shares during the period. Blair William & Co. IL raised its stake in Toronto-Dominion Bank by 7.0% in the second quarter. Blair William & Co. IL now owns 20,596 shares of the bank’s stock valued at $1,132,000 after purchasing an additional 1,354 shares in the last quarter. Virtu Financial LLC lifted its position in Toronto-Dominion Bank by 13.0% during the second quarter. Virtu Financial LLC now owns 34,159 shares of the bank’s stock worth $1,877,000 after purchasing an additional 3,940 shares during the period. Quantbot Technologies LP grew its stake in Toronto-Dominion Bank by 117.5% during the second quarter. Quantbot Technologies LP now owns 96,941 shares of the bank’s stock worth $5,328,000 after buying an additional 52,361 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Toronto-Dominion Bank by 61.7% during the second quarter. Dimensional Fund Advisors LP now owns 5,806,974 shares of the bank’s stock worth $319,151,000 after buying an additional 2,215,185 shares in the last quarter. Institutional investors and hedge funds own 52.37% of the company’s stock.

Analyst Upgrades and Downgrades

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

Toronto-Dominion Bank Stock Performance

Shares of Toronto-Dominion Bank stock opened at $62.59 on Thursday. The company’s 50 day moving average price is $58.91 and its two-hundred day moving average price is $57.82. The firm has a market capitalization of $109.43 billion, a P/E ratio of 14.23, a P/E/G ratio of 1.84 and a beta of 0.81. The Toronto-Dominion Bank has a fifty-two week low of $53.52 and a fifty-two week high of $65.12. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.02 and a quick ratio of 1.02.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released 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 return on equity of 14.34% and a net margin of 6.94%. The company had revenue of $14.18 billion for the quarter, compared to the consensus estimate of $9.40 billion. During the same quarter last year, the business posted $1.48 EPS. Toronto-Dominion Bank’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, equities analysts forecast that The Toronto-Dominion Bank will post 5.84 earnings per share for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 4.72%. The ex-dividend date of this dividend is Thursday, October 10th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is currently 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.