Frank Rimerman Advisors LLC Takes Position in The Toronto-Dominion Bank (NYSE:TD)

Frank Rimerman Advisors LLC bought a new position in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,275 shares of the bank’s stock, valued at approximately $290,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. TD Asset Management Inc increased its stake in Toronto-Dominion Bank by 28.9% in the 4th quarter. TD Asset Management Inc now owns 46,469,553 shares of the bank’s stock worth $3,017,384,000 after purchasing an additional 10,415,591 shares in the last quarter. Bank of Nova Scotia raised its holdings in shares of Toronto-Dominion Bank by 0.3% during the fourth quarter. Bank of Nova Scotia now owns 33,335,463 shares of the bank’s stock valued at $2,154,141,000 after acquiring an additional 105,772 shares during the period. National Bank of Canada FI lifted its position in shares of Toronto-Dominion Bank by 6.2% in 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 acquiring an additional 1,736,931 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Toronto-Dominion Bank by 3.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 11,884,896 shares of the bank’s stock worth $653,194,000 after purchasing an additional 358,283 shares during the period. Finally, Scotia Capital Inc. grew its position in Toronto-Dominion Bank by 0.9% during the 4th quarter. Scotia Capital Inc. now owns 11,097,698 shares of the bank’s stock worth $716,322,000 after purchasing an additional 93,854 shares in the last quarter. 52.37% of the stock is owned by institutional investors and hedge funds.

Toronto-Dominion Bank Price Performance

NYSE TD opened at $63.79 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $111.52 billion, a PE ratio of 14.50, a price-to-earnings-growth ratio of 1.86 and a beta of 0.81. The Toronto-Dominion Bank has a 12-month low of $53.52 and a 12-month high of $65.12. The company has a 50 day moving average price of $59.46 and a two-hundred day moving average price of $57.92.

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 (EPS) for the quarter, beating the consensus estimate 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 net margin of 6.94% and a return on equity of 14.34%. Toronto-Dominion Bank’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.48 EPS. As a group, equities analysts predict that The Toronto-Dominion Bank will post 5.84 earnings per share 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. Stockholders 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 (DPR) is presently 67.73%.

Analyst Ratings Changes

Several analysts have recently commented on TD shares. National Bank Financial raised Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research report on Thursday, August 22nd. StockNews.com cut Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Thursday, August 22nd. Finally, UBS Group initiated coverage on shares of Toronto-Dominion Bank in a research report on Tuesday, July 2nd. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average 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.