Litman Gregory Wealth Management LLC Sells 1,250 Shares of The Toronto-Dominion Bank (NYSE:TD)

Litman Gregory Wealth Management LLC trimmed its stake in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 20.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,875 shares of the bank’s stock after selling 1,250 shares during the quarter. Litman Gregory Wealth Management LLC’s holdings in Toronto-Dominion Bank were worth $308,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. National Bank of Canada FI raised its stake in shares of Toronto-Dominion Bank by 6.2% during the 1st quarter. National Bank of Canada FI now owns 29,655,117 shares of the bank’s stock valued at $1,677,917,000 after purchasing an additional 1,736,931 shares during the period. Mackenzie Financial Corp raised its stake in shares of Toronto-Dominion Bank by 0.8% during the 2nd quarter. Mackenzie Financial Corp now owns 25,997,122 shares of the bank’s stock valued at $1,429,186,000 after purchasing an additional 218,807 shares during the period. 1832 Asset Management L.P. raised its stake in shares of Toronto-Dominion Bank by 6.0% during the 2nd quarter. 1832 Asset Management L.P. now owns 25,803,480 shares of the bank’s stock valued at $1,418,159,000 after purchasing an additional 1,462,794 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Toronto-Dominion Bank by 9.6% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 13,814,269 shares of the bank’s stock valued at $759,449,000 after purchasing an additional 1,206,574 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Toronto-Dominion Bank by 3.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 11,884,896 shares of the bank’s stock valued at $653,194,000 after purchasing an additional 358,283 shares during the period. 52.37% of the stock is currently owned by institutional investors.

Toronto-Dominion Bank Trading Down 1.2 %

TD stock traded down $0.70 during trading on Wednesday, hitting $56.57. 436,093 shares of the company traded hands, compared to its average volume of 2,802,277. The firm has a market capitalization of $98.85 billion, a PE ratio of 13.02, a P/E/G ratio of 1.65 and a beta of 0.81. The Toronto-Dominion Bank has a 1 year low of $53.52 and a 1 year high of $65.12. The company has a 50-day moving average of $60.63 and a 200-day moving average of $57.99. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.56. The company had revenue of $14.18 billion during the quarter, compared to analysts’ expectations of $9.40 billion. Toronto-Dominion Bank had a return on equity of 14.34% and a net margin of 6.94%. Toronto-Dominion Bank’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.48 EPS. Analysts predict that The Toronto-Dominion Bank will post 5.82 earnings per share for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The firm 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 $0.739 dividend. This represents a $2.96 annualized dividend and a yield of 5.23%. The ex-dividend date of this dividend is Thursday, October 10th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is currently 68.41%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on TD shares. UBS Group started coverage on Toronto-Dominion Bank in a research note on Tuesday, July 2nd. They issued a “neutral” rating on the stock. National Bank Financial upgraded Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research note on Thursday, August 22nd. Royal Bank of Canada lowered Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research note on Friday, October 11th. Finally, StockNews.com lowered Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eight have given 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 stock currently has an average rating of “Hold” and a consensus price target of $84.00.

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.