Zurcher Kantonalbank Zurich Cantonalbank Raises Stock Holdings in The Toronto-Dominion Bank (NYSE:TD)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 18.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 675,412 shares of the bank’s stock after purchasing an additional 105,018 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Toronto-Dominion Bank were worth $37,118,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Mather Group LLC. purchased a new stake in Toronto-Dominion Bank in the first quarter valued at approximately $29,000. LifeSteps Financial Inc. acquired a new stake in Toronto-Dominion Bank during the 1st quarter valued at approximately $30,000. Triad Wealth Partners LLC purchased a new stake in shares of Toronto-Dominion Bank in the 2nd quarter valued at $31,000. Blue Trust Inc. boosted its holdings in shares of Toronto-Dominion Bank by 50.7% in the 2nd quarter. Blue Trust Inc. now owns 630 shares of the bank’s stock valued at $38,000 after acquiring an additional 212 shares during the last quarter. Finally, Optiver Holding B.V. acquired a new stake in shares of Toronto-Dominion Bank in the fourth quarter worth $39,000. 52.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on TD. BMO Capital Markets lowered their price target on shares of Toronto-Dominion Bank from $86.00 to $84.00 and set a “market perform” rating on the stock in a report on Friday, May 24th. StockNews.com downgraded Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Thursday, August 22nd. National Bank Financial upgraded Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research report on Thursday, August 22nd. Cibc World Mkts raised Toronto-Dominion Bank from a “hold” rating to a “strong-buy” rating in a report on Friday, May 24th. Finally, UBS Group began coverage on shares of Toronto-Dominion Bank in a research note on Tuesday, July 2nd. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $84.00.

Toronto-Dominion Bank Price Performance

NYSE TD traded up $0.02 during trading hours on Thursday, reaching $59.45. The company’s stock had a trading volume of 1,421,728 shares, compared to its average volume of 2,010,607. The firm has a market capitalization of $103.94 billion, a price-to-earnings ratio of 13.51, a P/E/G ratio of 1.72 and a beta of 0.82. The company’s 50-day moving average is $57.13 and its two-hundred day moving average is $57.67. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.02 and a quick ratio of 1.02. The Toronto-Dominion Bank has a 1-year low of $53.52 and a 1-year high of $65.12.

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. Toronto-Dominion Bank had a return on equity of 14.34% and a net margin of 6.94%. The business had revenue of $14.18 billion during the quarter, compared to analysts’ expectations of $9.40 billion. During the same period in the previous year, the business earned $1.48 earnings per share. The business’s revenue was up 9.8% compared to the same quarter last year. On average, equities analysts predict that The Toronto-Dominion Bank will post 5.85 EPS for the current year.

Toronto-Dominion Bank Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be issued a dividend of $0.739 per share. This represents a $2.96 annualized dividend and a yield of 4.97%. The ex-dividend date is Thursday, October 10th. Toronto-Dominion Bank’s payout ratio is 67.73%.

Toronto-Dominion Bank 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.