Resources Management Corp CT ADV Cuts Holdings in The Toronto-Dominion Bank (NYSE:TD)

Resources Management Corp CT ADV decreased its holdings in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 7.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,126 shares of the bank’s stock after selling 7,265 shares during the period. Resources Management Corp CT ADV’s holdings in Toronto-Dominion Bank were worth $5,338,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of TD. Mather Group LLC. bought a new stake in shares of Toronto-Dominion Bank during the 1st quarter valued at about $29,000. LifeSteps Financial Inc. bought a new position in Toronto-Dominion Bank in the first quarter worth approximately $30,000. Triad Wealth Partners LLC purchased a new position in shares of Toronto-Dominion Bank during the 2nd quarter worth $31,000. Blue Trust Inc. boosted its stake in shares of Toronto-Dominion Bank by 50.7% during the 2nd quarter. Blue Trust Inc. now owns 630 shares of the bank’s stock worth $38,000 after acquiring an additional 212 shares during the last quarter. Finally, Optiver Holding B.V. purchased a new stake in shares of Toronto-Dominion Bank in the 4th quarter worth $39,000. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on TD. StockNews.com downgraded Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday, August 22nd. UBS Group started coverage on Toronto-Dominion Bank in a research note on Tuesday, July 2nd. They set a “neutral” rating for the company. Finally, National Bank Financial upgraded shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research note on Thursday, August 22nd. One equities research 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $84.00.

Toronto-Dominion Bank Trading Down 1.1 %

Toronto-Dominion Bank stock opened at $63.87 on Tuesday. The stock has a 50-day moving average price of $59.36 and a 200 day moving average price of $57.90. The company has a market capitalization of $111.60 billion, a price-to-earnings ratio of 14.52, a price-to-earnings-growth ratio of 1.84 and a beta of 0.81. The Toronto-Dominion Bank has a 52 week low of $53.52 and a 52 week high of $65.12. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.10.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings data on Thursday, August 22nd. The bank reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.56. The business had revenue of $14.18 billion during the quarter, compared to analyst estimates of $9.40 billion. Toronto-Dominion Bank had a return on equity of 14.34% and a net margin of 6.94%. The company’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the business posted $1.48 EPS. Sell-side analysts anticipate that The Toronto-Dominion Bank will post 5.84 EPS for the current year.

Toronto-Dominion Bank Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be given a $0.739 dividend. The ex-dividend date is Thursday, October 10th. This represents a $2.96 annualized dividend and a dividend yield of 4.63%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is 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.