Sumitomo Mitsui Trust Holdings Inc. Lowers Stake in The Toronto-Dominion Bank (NYSE:TD)

Sumitomo Mitsui Trust Holdings Inc. trimmed its position in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 2.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,140,212 shares of the bank’s stock after selling 123,080 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.23% of Toronto-Dominion Bank worth $250,028,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Dixon Mitchell Investment Counsel Inc. increased its position in Toronto-Dominion Bank by 2.7% during the 1st quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,388,528 shares of the bank’s stock worth $83,881,000 after purchasing an additional 37,002 shares in the last quarter. Eagle Ridge Investment Management lifted its holdings in shares of Toronto-Dominion Bank by 3.5% during the 1st quarter. Eagle Ridge Investment Management now owns 134,018 shares of the bank’s stock valued at $8,092,000 after acquiring an additional 4,581 shares in the last quarter. Applied Capital LLC FL boosted its position in Toronto-Dominion Bank by 1.7% during the 1st quarter. Applied Capital LLC FL now owns 23,848 shares of the bank’s stock worth $1,440,000 after purchasing an additional 390 shares during the period. Hexagon Capital Partners LLC increased its holdings in Toronto-Dominion Bank by 11.6% in the 1st quarter. Hexagon Capital Partners LLC now owns 1,990 shares of the bank’s stock valued at $120,000 after purchasing an additional 207 shares in the last quarter. Finally, AMF Tjanstepension AB raised its position in Toronto-Dominion Bank by 53.5% in the first quarter. AMF Tjanstepension AB now owns 481,783 shares of the bank’s stock valued at $29,214,000 after purchasing an additional 167,974 shares during the period. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TD. Barclays assumed coverage on Toronto-Dominion Bank in a research note on Wednesday, March 20th. They issued an “equal weight” rating for the company. UBS Group began coverage on shares of Toronto-Dominion Bank in a research report on Tuesday. They set a “neutral” rating on the stock. StockNews.com lowered shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Thursday, June 27th. 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. Finally, BMO Capital Markets cut their price target on Toronto-Dominion Bank from $86.00 to $84.00 and set a “market perform” rating on the stock in a research note on Friday, May 24th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Toronto-Dominion Bank has a consensus rating of “Hold” and a consensus price target of $88.00.

Toronto-Dominion Bank Trading Up 0.7 %

NYSE:TD opened at $55.68 on Thursday. The company has a market cap of $97.28 billion, a PE ratio of 12.65, a P/E/G ratio of 1.52 and a beta of 0.82. The business’s 50 day moving average is $55.93 and its two-hundred day moving average is $58.84. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.11. The Toronto-Dominion Bank has a 52 week low of $53.52 and a 52 week high of $66.15.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings data on Thursday, May 23rd. The bank reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.15. Toronto-Dominion Bank had a return on equity of 14.38% and a net margin of 9.96%. The firm had revenue of $10.18 billion for the quarter, compared to analysts’ expectations of $9.90 billion. On average, analysts predict that The Toronto-Dominion Bank will post 5.86 EPS for the current year.

Toronto-Dominion Bank Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Wednesday, July 10th will be given a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 5.32%. The ex-dividend date is Wednesday, July 10th. Toronto-Dominion Bank’s dividend payout ratio is presently 68.64%.

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.