Whittier Trust Co. of Nevada Inc. Trims Stake in The Toronto-Dominion Bank (NYSE:TD)

Whittier Trust Co. of Nevada Inc. cut its stake in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 66.3% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,113 shares of the bank’s stock after selling 2,190 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Toronto-Dominion Bank were worth $61,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC bought a new position in shares of Toronto-Dominion Bank during the 4th quarter valued at approximately $2,961,000. CWM LLC boosted its position in shares of Toronto-Dominion Bank by 15.2% in the fourth quarter. CWM LLC now owns 6,528 shares of the bank’s stock worth $422,000 after purchasing an additional 863 shares during the period. Yousif Capital Management LLC increased its stake in shares of Toronto-Dominion Bank by 7.4% in the fourth quarter. Yousif Capital Management LLC now owns 32,380 shares of the bank’s stock worth $2,092,000 after purchasing an additional 2,225 shares in the last quarter. Hexagon Capital Partners LLC raised its position in shares of Toronto-Dominion Bank by 80.5% during the 4th quarter. Hexagon Capital Partners LLC now owns 1,783 shares of the bank’s stock valued at $115,000 after purchasing an additional 795 shares during the period. Finally, First Trust Direct Indexing L.P. lifted its stake in shares of Toronto-Dominion Bank by 16.5% during the 4th quarter. First Trust Direct Indexing L.P. now owns 12,042 shares of the bank’s stock valued at $778,000 after buying an additional 1,702 shares in the last quarter. Institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Price Performance

Shares of NYSE:TD traded up $0.48 on Thursday, reaching $59.91. The company’s stock had a trading volume of 784,564 shares, compared to its average volume of 2,739,393. The company has a 50-day simple moving average of $57.02 and a 200 day simple moving average of $57.66. The Toronto-Dominion Bank has a 52-week low of $53.52 and a 52-week high of $65.12. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $104.68 billion, a P/E ratio of 13.50, a PEG ratio of 1.74 and a beta of 0.82.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings results on Thursday, August 22nd. The bank reported $2.05 EPS for the quarter, topping the consensus estimate of $1.49 by $0.56. Toronto-Dominion Bank had a return on equity of 14.27% and a net margin of 6.94%. The company had revenue of $14.18 billion during the quarter, compared to analyst estimates of $9.40 billion. During the same quarter last year, the business posted $1.48 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. As a group, equities research analysts anticipate that The Toronto-Dominion Bank will post 5.89 EPS for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 10th will be issued a dividend of $0.739 per share. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.96 annualized dividend and a yield of 4.93%. Toronto-Dominion Bank’s payout ratio is presently 67.05%.

Analyst Upgrades and Downgrades

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