Harbour Investments Inc. Lowers Position in The Toronto-Dominion Bank (NYSE:TD)

Harbour Investments Inc. lessened its stake in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 12.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,775 shares of the bank’s stock after selling 1,125 shares during the quarter. Harbour Investments Inc.’s holdings in Toronto-Dominion Bank were worth $492,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Galibier Capital Management Ltd. increased its position in Toronto-Dominion Bank by 24.6% in the third quarter. Galibier Capital Management Ltd. now owns 608,613 shares of the bank’s stock worth $38,527,000 after purchasing an additional 119,978 shares during the last quarter. Forsta AP Fonden increased its position in Toronto-Dominion Bank by 3.2% in the third quarter. Forsta AP Fonden now owns 466,500 shares of the bank’s stock worth $29,531,000 after purchasing an additional 14,500 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. increased its position in Toronto-Dominion Bank by 4.5% in the third quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,452,493 shares of the bank’s stock worth $91,948,000 after purchasing an additional 62,569 shares during the last quarter. Williams Financial LLC bought a new stake in Toronto-Dominion Bank in the second quarter worth $10,454,000. Finally, Creative Planning increased its position in Toronto-Dominion Bank by 9.8% during the third quarter. Creative Planning now owns 144,251 shares of the bank’s stock valued at $9,125,000 after acquiring an additional 12,879 shares during the last quarter. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Analyst Upgrades and Downgrades

TD has been the topic of a number of analyst reports. StockNews.com cut shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday, August 22nd. National Bank Financial upgraded shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research report on Thursday, August 22nd. Finally, 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. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $84.00.

Toronto-Dominion Bank Stock Down 1.2 %

Shares of TD opened at $55.93 on Friday. The firm has a market capitalization of $97.79 billion, a P/E ratio of 17.87, a P/E/G ratio of 1.59 and a beta of 0.82. The Toronto-Dominion Bank has a 12-month low of $53.52 and a 12-month high of $65.12. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10. The firm has a fifty day moving average price of $59.46 and a 200-day moving average price of $57.75.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $14.18 billion during the quarter, compared to analyst estimates of $9.40 billion. During the same period in the previous year, the firm earned $1.48 earnings per share. The business’s revenue was up 9.8% on a year-over-year basis. Equities research analysts expect that The Toronto-Dominion Bank will post 5.8 earnings per share for the current year.

Toronto-Dominion Bank Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were paid a $0.739 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 5.29%. The ex-dividend date was Thursday, October 10th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 96.17%.

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.