Canada Pension Plan Investment Board Sells 97,800 Shares of The Toronto-Dominion Bank (NYSE:TD)

Canada Pension Plan Investment Board trimmed its position in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 1.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,077,657 shares of the bank’s stock after selling 97,800 shares during the period. Canada Pension Plan Investment Board owned 0.46% of Toronto-Dominion Bank worth $443,921,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Mather Group LLC. bought a new stake in shares of Toronto-Dominion Bank during the 1st quarter worth $29,000. LifeSteps Financial Inc. bought a new stake in shares of Toronto-Dominion Bank during the 1st quarter worth $30,000. Triad Wealth Partners LLC bought a new stake in shares of Toronto-Dominion Bank during the 2nd quarter worth $31,000. Blue Trust Inc. lifted its holdings 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. bought a new stake in shares of Toronto-Dominion Bank during the 4th quarter worth $39,000. 52.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Toronto-Dominion Bank Price Performance

TD stock opened at $64.41 on Friday. The firm’s 50-day moving average price is $59.07 and its two-hundred day moving average price is $57.86. The Toronto-Dominion Bank has a 12-month low of $53.52 and a 12-month high of $65.12. The stock has a market capitalization of $112.55 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 1.84 and a beta of 0.81. 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 data on Thursday, August 22nd. The bank reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $14.18 billion for the quarter, compared to analysts’ expectations of $9.40 billion. During the same quarter in the previous year, the company earned $1.48 earnings per share. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, equities analysts predict that The Toronto-Dominion Bank will post 5.84 earnings per share for the current year.

Toronto-Dominion Bank Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be given a $0.739 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date of this dividend is Thursday, October 10th. Toronto-Dominion Bank’s payout ratio is 68.64%.

Toronto-Dominion Bank Company 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.