First Long Island Investors LLC Cuts Stock Position in The Toronto-Dominion Bank (NYSE:TD)

First Long Island Investors LLC lessened its stake in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 3.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 235,488 shares of the bank’s stock after selling 8,787 shares during the quarter. First Long Island Investors LLC’s holdings in Toronto-Dominion Bank were worth $14,219,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TD. Mather Group LLC. acquired a new position in shares of Toronto-Dominion Bank during the 1st quarter valued at about $29,000. LifeSteps Financial Inc. acquired a new position in Toronto-Dominion Bank in the first quarter valued at about $30,000. Bank of New Hampshire acquired a new position in Toronto-Dominion Bank in the fourth quarter valued at about $32,000. Avior Wealth Management LLC lifted its position in Toronto-Dominion Bank by 92.9% in the fourth quarter. Avior Wealth Management LLC now owns 594 shares of the bank’s stock valued at $38,000 after buying an additional 286 shares during the last quarter. Finally, Optiver Holding B.V. acquired a new position in Toronto-Dominion Bank in the fourth quarter valued at about $39,000. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Stock Performance

Shares of TD stock traded up $0.49 during trading hours on Thursday, hitting $56.31. The stock had a trading volume of 2,140,235 shares, compared to its average volume of 2,935,521. The firm has a market capitalization of $98.39 billion, a PE ratio of 12.80, a PEG ratio of 1.53 and a beta of 0.82. The Toronto-Dominion Bank has a twelve month low of $53.52 and a twelve month high of $66.15. The stock’s 50 day moving average is $55.49 and its 200 day moving average is $58.54. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.01 and a quick ratio of 1.01.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings data on Thursday, May 23rd. The bank reported $1.50 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.15. The business had revenue of $10.18 billion during the quarter, compared to the consensus estimate of $9.90 billion. Toronto-Dominion Bank had a return on equity of 14.38% and a net margin of 9.96%. As a group, research analysts forecast that The Toronto-Dominion Bank will post 5.86 earnings per share for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th will be issued a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 5.26%. The ex-dividend date of this dividend is Wednesday, July 10th. Toronto-Dominion Bank’s payout ratio is currently 68.64%.

Analyst Ratings Changes

A number of research analysts have commented on TD shares. Barclays started coverage on shares of Toronto-Dominion Bank in a research report on Wednesday, March 20th. They issued an “equal weight” rating on the stock. Cibc World Mkts raised 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 decreased their target price on shares of Toronto-Dominion Bank from $86.00 to $84.00 and set a “market perform” rating on the stock in a research report on Friday, May 24th. StockNews.com cut shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday, June 27th. Finally, National Bank Financial cut shares of Toronto-Dominion Bank from a “sector perform” rating to an “underperform” rating in a research report on Thursday, May 23rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $88.00.

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.