Healthcare of Ontario Pension Plan Trust Fund Sells 5,429,529 Shares of Toronto Dominion Bank (The) $TD

Healthcare of Ontario Pension Plan Trust Fund cut its position in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 45.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,470,416 shares of the bank’s stock after selling 5,429,529 shares during the quarter. Toronto Dominion Bank comprises about 1.0% of Healthcare of Ontario Pension Plan Trust Fund’s holdings, making the stock its 16th largest position. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Toronto Dominion Bank were worth $604,076,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in Toronto Dominion Bank in the 4th quarter valued at about $2,125,963,000. Auto Owners Insurance Co lifted its holdings in Toronto Dominion Bank by 9,320.0% during the fourth quarter. Auto Owners Insurance Co now owns 3,965,443 shares of the bank’s stock valued at $396,544,000 after purchasing an additional 3,923,347 shares during the last quarter. Alberta Investment Management Corp bought a new position in Toronto Dominion Bank during the fourth quarter worth about $299,850,000. Massachusetts Financial Services Co. MA boosted its position in Toronto Dominion Bank by 25.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 15,210,762 shares of the bank’s stock worth $1,432,854,000 after purchasing an additional 3,129,457 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Toronto Dominion Bank by 10.6% in the fourth quarter. The Manufacturers Life Insurance Company now owns 17,014,836 shares of the bank’s stock worth $1,606,978,000 after purchasing an additional 1,629,062 shares in the last quarter. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Wall Street Zen cut shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Royal Bank Of Canada boosted their target price on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Weiss Ratings cut shares of Toronto Dominion Bank from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday. Scotiabank upgraded Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, May 4th. Finally, Raymond James Financial raised Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $156.00.

Toronto Dominion Bank Price Performance

TD stock opened at $119.82 on Friday. The firm has a 50 day moving average of $117.29 and a 200-day moving average of $104.71. The firm has a market capitalization of $197.09 billion, a P/E ratio of 18.69, a price-to-earnings-growth ratio of 1.33 and a beta of 0.71. Toronto Dominion Bank has a 12 month low of $72.21 and a 12 month high of $124.87. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last posted its earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.11. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. The business had revenue of $11.80 billion for the quarter, compared to analysts’ expectations of $11.04 billion. During the same period in the prior year, the company posted $1.97 EPS. The business’s revenue for the quarter was down 31.1% compared to the same quarter last year. As a group, sell-side analysts predict that Toronto Dominion Bank will post 6.86 earnings per share for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 10th will be issued a $1.12 dividend. The ex-dividend date of this dividend is Friday, July 10th. This is an increase from Toronto Dominion Bank’s previous quarterly dividend of $1.08. This represents a $4.48 annualized dividend and a dividend yield of 3.7%. Toronto Dominion Bank’s payout ratio is currently 49.14%.

About Toronto Dominion Bank

Toronto-Dominion Bank (TD) is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. Formed through the 1955 merger of the Bank of Toronto (founded 1855) and the Dominion Bank (founded 1869), TD is one of Canada’s largest banks and offers a broad range of financial products and services to individual, small business, commercial and institutional clients.

TD’s core businesses include Canadian and U.S. personal and commercial banking, wealth management, wholesale banking and insurance.