Forsta AP Fonden decreased its position in Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 1.9% in the 1st quarter, Holdings Channel reports. The firm owned 156,269 shares of the bank’s stock after selling 3,100 shares during the period. Forsta AP Fonden’s holdings in Toronto-Dominion Bank were worth $8,483,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. increased its stake in shares of Toronto-Dominion Bank by 0.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 6,919,015 shares of the bank’s stock valued at $375,377,000 after acquiring an additional 45,801 shares during the last quarter. Adell Harriman & Carpenter Inc. increased its position in Toronto-Dominion Bank by 8.3% during the 1st quarter. Adell Harriman & Carpenter Inc. now owns 90,902 shares of the bank’s stock worth $4,939,000 after purchasing an additional 6,998 shares in the last quarter. Farmers National Bank acquired a new stake in Toronto-Dominion Bank during the 1st quarter worth approximately $33,000. Raymond James & Associates increased its position in Toronto-Dominion Bank by 2.6% during the 1st quarter. Raymond James & Associates now owns 239,019 shares of the bank’s stock worth $12,984,000 after purchasing an additional 6,133 shares in the last quarter. Finally, CIBC Asset Management Inc increased its position in Toronto-Dominion Bank by 13.3% during the 1st quarter. CIBC Asset Management Inc now owns 21,510,636 shares of the bank’s stock worth $1,167,313,000 after purchasing an additional 2,517,475 shares in the last quarter. 49.74% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, April 24th. BMO Capital Markets reissued a “buy” rating on shares of Toronto-Dominion Bank in a research report on Thursday, February 28th. Finally, Barclays reissued a “hold” rating on shares of Toronto-Dominion Bank in a research report on Friday. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $60.00.
Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings results on Thursday, February 28th. The bank reported $1.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.31 by ($0.13). The company had revenue of $7.51 billion during the quarter, compared to analysts’ expectations of $7.35 billion. Toronto-Dominion Bank had a return on equity of 16.36% and a net margin of 20.48%. On average, analysts expect that Toronto-Dominion Bank will post 5.07 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Wednesday, April 10th were issued a $0.564 dividend. This represents a $2.26 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date of this dividend was Tuesday, April 9th. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $0.51. Toronto-Dominion Bank’s dividend payout ratio is currently 44.14%.
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About Toronto-Dominion Bank
The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. The company operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. It offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; financing options to customers at point of sale for automotive and recreational vehicle purchases through auto dealer network; credit cards; investing, advice-based, and asset management services to retail and institutional clients; and property and casualty insurance, as well as life and health insurance products.
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