Montrusco Bolton Investments Inc. Cuts Holdings in Toronto Dominion Bank (The) $TD

Montrusco Bolton Investments Inc. decreased its holdings in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 8.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 486,409 shares of the bank’s stock after selling 47,240 shares during the quarter. Montrusco Bolton Investments Inc.’s holdings in Toronto Dominion Bank were worth $38,902,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in TD. AQR Capital Management LLC acquired a new stake in Toronto Dominion Bank in the first quarter worth about $568,000. Focus Partners Wealth raised its position in shares of Toronto Dominion Bank by 27.7% during the 1st quarter. Focus Partners Wealth now owns 24,970 shares of the bank’s stock worth $1,497,000 after buying an additional 5,410 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Toronto Dominion Bank in the 2nd quarter worth approximately $259,000. Focus Partners Advisor Solutions LLC bought a new position in shares of Toronto Dominion Bank in the second quarter valued at approximately $226,000. Finally, Envestnet Asset Management Inc. increased its stake in shares of Toronto Dominion Bank by 152.4% during the second quarter. Envestnet Asset Management Inc. now owns 289,489 shares of the bank’s stock valued at $21,263,000 after acquiring an additional 174,815 shares during the period. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Toronto Dominion Bank Price Performance

Shares of Toronto Dominion Bank stock opened at $97.13 on Thursday. The firm has a market cap of $162.33 billion, a P/E ratio of 11.52, a price-to-earnings-growth ratio of 1.27 and a beta of 0.67. The firm’s 50-day simple moving average is $94.88 and its 200-day simple moving average is $85.29. Toronto Dominion Bank has a twelve month low of $54.87 and a twelve month high of $99.04. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.03 and a current ratio of 1.03.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings data on Thursday, December 4th. The bank reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.10. Toronto Dominion Bank had a return on equity of 13.90% and a net margin of 16.52%.The company had revenue of $11.44 billion for the quarter, compared to analyst estimates of $10.10 billion. During the same quarter in the previous year, the firm earned $1.72 earnings per share. The business’s revenue was down .1% on a year-over-year basis. As a group, research analysts expect that Toronto Dominion Bank will post 5.48 EPS for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, January 31st. Stockholders of record on Friday, January 9th were paid a $1.08 dividend. This is a boost from Toronto Dominion Bank’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Friday, January 9th. This represents a $4.32 annualized dividend and a dividend yield of 4.4%. Toronto Dominion Bank’s payout ratio is 37.37%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TD shares. Weiss Ratings restated a “buy (b)” rating on shares of Toronto Dominion Bank in a report on Wednesday, January 21st. Canadian Imperial Bank of Commerce downgraded Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 12th. Wall Street Zen cut Toronto Dominion Bank from a “hold” rating to a “sell” rating in a report on Sunday. Jefferies Financial Group downgraded Toronto Dominion Bank from a “buy” rating to a “hold” rating in a report on Tuesday, November 25th. Finally, Zacks Research upgraded Toronto Dominion Bank from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 18th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $93.00.

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.