Eastern Bank Purchases Shares of 1,043 The Toronto-Dominion Bank (NYSE:TD)

Eastern Bank purchased a new stake in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) in the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 1,043 shares of the bank’s stock, valued at approximately $66,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TD. National Bank of Canada FI lifted its position in shares of Toronto-Dominion Bank by 6.2% during the 1st quarter. National Bank of Canada FI now owns 29,655,117 shares of the bank’s stock worth $1,677,917,000 after purchasing an additional 1,736,931 shares during the last quarter. Mackenzie Financial Corp lifted its position in shares of Toronto-Dominion Bank by 0.8% during the 2nd quarter. Mackenzie Financial Corp now owns 25,997,122 shares of the bank’s stock worth $1,429,186,000 after purchasing an additional 218,807 shares during the last quarter. 1832 Asset Management L.P. lifted its position in shares of Toronto-Dominion Bank by 6.0% during the 2nd quarter. 1832 Asset Management L.P. now owns 25,803,480 shares of the bank’s stock worth $1,418,159,000 after purchasing an additional 1,462,794 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of Toronto-Dominion Bank by 9.6% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 13,814,269 shares of the bank’s stock worth $759,449,000 after purchasing an additional 1,206,574 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Toronto-Dominion Bank by 3.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 11,884,896 shares of the bank’s stock worth $653,194,000 after purchasing an additional 358,283 shares during the last quarter. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Trading Down 0.9 %

NYSE TD opened at $56.34 on Friday. 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 firm has a market cap of $98.45 billion, a PE ratio of 12.80, a P/E/G ratio of 1.68 and a beta of 0.81. The Toronto-Dominion Bank has a one year low of $53.52 and a one year high of $65.12. The firm’s fifty day moving average is $60.57 and its two-hundred day moving average is $57.97.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings data on Thursday, August 22nd. The bank reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.56. The company had revenue of $14.18 billion for the quarter, compared to analyst estimates of $9.40 billion. Toronto-Dominion Bank had a net margin of 6.94% and a return on equity of 14.34%. Toronto-Dominion Bank’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.48 earnings per share. Analysts expect that The Toronto-Dominion Bank will post 5.82 earnings per share for the current year.

Toronto-Dominion Bank Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be paid a $0.739 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.96 dividend on an annualized basis and a yield of 5.25%. Toronto-Dominion Bank’s dividend payout ratio is presently 68.41%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on TD shares. Royal Bank of Canada cut shares of Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research report on Friday, October 11th. National Bank Financial raised shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research report on Thursday, August 22nd. StockNews.com cut shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday, August 22nd. Finally, UBS Group started coverage on shares of Toronto-Dominion Bank in a research report on Tuesday, July 2nd. They issued a “neutral” rating for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $84.00.

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.