M&T Bank Corp lessened its holdings in Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 5.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 446,518 shares of the bank’s stock after selling 25,257 shares during the quarter. M&T Bank Corp’s holdings in Toronto-Dominion Bank were worth $19,921,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of TD. Watson Rebecca bought a new stake in Toronto-Dominion Bank in the second quarter worth about $30,000. Citizens Financial Group Inc RI purchased a new position in Toronto-Dominion Bank during the 1st quarter valued at about $31,000. Carroll Financial Associates Inc. grew its stake in Toronto-Dominion Bank by 471.3% during the 1st quarter. Carroll Financial Associates Inc. now owns 777 shares of the bank’s stock valued at $32,000 after acquiring an additional 641 shares in the last quarter. Balentine LLC acquired a new stake in shares of Toronto-Dominion Bank during the 1st quarter valued at about $33,000. Finally, Fifth Third Bancorp lifted its holdings in shares of Toronto-Dominion Bank by 39.0% during the 1st quarter. Fifth Third Bancorp now owns 891 shares of the bank’s stock valued at $38,000 after buying an additional 250 shares during the last quarter. Institutional investors own 47.89% of the company’s stock.
A number of analysts have recently issued reports on TD shares. Bank of America boosted their price objective on Toronto-Dominion Bank from $43.00 to $61.00 and gave the company a “neutral” rating in a research report on Wednesday, May 13th. Zacks Investment Research upgraded Toronto-Dominion Bank from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Wednesday. Barclays cut their price target on Toronto-Dominion Bank from $62.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, May 11th. Wolfe Research lowered Toronto-Dominion Bank from an “outperform” rating to an “underperform” rating in a research note on Monday, June 8th. Finally, Scotiabank upped their price target on Toronto-Dominion Bank from $65.00 to $66.00 and gave the company an “outperform” rating in a research note on Friday, May 29th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $71.62.
Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings data on Thursday, May 28th. The bank reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.25. The business had revenue of $10.53 billion during the quarter, compared to the consensus estimate of $9.82 billion. Toronto-Dominion Bank had a return on equity of 13.24% and a net margin of 18.30%. Toronto-Dominion Bank’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the company earned $1.75 earnings per share. On average, equities analysts anticipate that Toronto-Dominion Bank will post 3.52 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 10th were paid a $0.567 dividend. The ex-dividend date of this dividend was Thursday, July 9th. This represents a $2.27 dividend on an annualized basis and a yield of 5.12%. Toronto-Dominion Bank’s dividend payout ratio is 46.32%.
Toronto-Dominion Bank Profile
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.
Further Reading: Derivative
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