The Toronto-Dominion Bank (NYSE:TD) Shares Sold by Magnetar Financial LLC

Magnetar Financial LLC decreased its stake in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 15.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,932 shares of the bank’s stock after selling 9,046 shares during the period. Magnetar Financial LLC’s holdings in Toronto-Dominion Bank were worth $2,689,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. 1832 Asset Management L.P. raised its position in Toronto-Dominion Bank by 6.0% in 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 last quarter. Frank Rimerman Advisors LLC purchased a new position in Toronto-Dominion Bank during the 2nd quarter worth $290,000. Ensign Peak Advisors Inc raised its position in Toronto-Dominion Bank by 4.7% during the 2nd quarter. Ensign Peak Advisors Inc now owns 122,753 shares of the bank’s stock worth $6,990,000 after buying an additional 5,500 shares during the last quarter. Sei Investments Co. raised its position in Toronto-Dominion Bank by 39.6% during the 2nd quarter. Sei Investments Co. now owns 246,459 shares of the bank’s stock worth $13,545,000 after buying an additional 69,875 shares during the last quarter. Finally, Sprucegrove Investment Management Ltd. raised its position in Toronto-Dominion Bank by 47.0% during the 2nd quarter. Sprucegrove Investment Management Ltd. now owns 1,946,100 shares of the bank’s stock worth $106,958,000 after buying an additional 621,900 shares during the last quarter. Institutional investors and hedge funds own 52.37% of the company’s stock.

Toronto-Dominion Bank Price Performance

Shares of NYSE TD opened at $63.87 on Tuesday. The stock has a market cap of $111.60 billion, a price-to-earnings ratio of 14.52, a PEG 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’s 50-day moving average price is $59.36 and its 200 day moving average price is $57.90. The company has a current ratio of 1.02, a quick 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 results on Thursday, August 22nd. The bank reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.56. Toronto-Dominion Bank had a net margin of 6.94% and a return on equity of 14.34%. The company had revenue of $14.18 billion for the quarter, compared to analysts’ expectations of $9.40 billion. During the same period last year, the company earned $1.48 EPS. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, research analysts forecast that The Toronto-Dominion Bank will post 5.84 earnings per share for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.739 per share. 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 is currently 68.64%.

Analysts Set New Price Targets

A number of brokerages have commented on TD. National Bank Financial upgraded shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research 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, UBS Group started coverage on shares of Toronto-Dominion Bank in a report on Tuesday, July 2nd. They issued a “neutral” rating for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus 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.