Parsons Capital Management Inc. RI reduced its stake in shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 2.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 37,277 shares of the bank’s stock after selling 986 shares during the period. Parsons Capital Management Inc. RI’s holdings in Toronto-Dominion Bank were worth $2,175,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in TD. Toronto Dominion Bank boosted its holdings in Toronto-Dominion Bank by 48.9% in the 1st quarter. Toronto Dominion Bank now owns 16,443,402 shares of the bank’s stock worth $892,223,000 after buying an additional 5,402,536 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new position in Toronto-Dominion Bank in the 1st quarter worth approximately $328,829,000. CIBC Asset Management Inc boosted its holdings in Toronto-Dominion Bank by 13.3% in the 1st quarter. CIBC Asset Management Inc now owns 21,510,636 shares of the bank’s stock worth $1,167,313,000 after buying an additional 2,517,475 shares during the period. TD Asset Management Inc. boosted its holdings in Toronto-Dominion Bank by 2.4% in the 1st quarter. TD Asset Management Inc. now owns 48,855,643 shares of the bank’s stock worth $2,652,053,000 after buying an additional 1,157,886 shares during the period. Finally, Intact Investment Management Inc. boosted its holdings in Toronto-Dominion Bank by 62.0% in the 1st quarter. Intact Investment Management Inc. now owns 1,991,895 shares of the bank’s stock worth $144,452,000 after buying an additional 762,490 shares during the period. 48.12% of the stock is owned by hedge funds and other institutional investors.
Shares of Toronto-Dominion Bank stock traded down $0.72 on Thursday, hitting $53.88. 113,309 shares of the company traded hands, compared to its average volume of 1,037,699. The company’s 50-day simple moving average is $58.07. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $99.21 billion, a P/E ratio of 10.70, a P/E/G ratio of 1.77 and a beta of 1.04. Toronto-Dominion Bank has a 12-month low of $47.73 and a 12-month high of $62.00.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th were given a dividend of $0.5511 per share. This represents a $2.20 annualized dividend and a dividend yield of 4.09%. The ex-dividend date of this dividend was Tuesday, July 9th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is currently 44.93%.
Several analysts have issued reports on TD shares. Canaccord Genuity reiterated a “buy” rating on shares of Toronto-Dominion Bank in a research note on Thursday, May 23rd. National Bank Financial cut shares of Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research note on Thursday, May 23rd. Zacks Investment Research upgraded shares of Toronto-Dominion Bank from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a research note on Friday, August 9th. Bank of America cut shares of Toronto-Dominion Bank from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $82.00 to $77.00 in a research note on Thursday. Finally, Barclays upgraded shares of Toronto-Dominion Bank from an “equal weight” rating to an “overweight” rating and set a $84.00 target price on the stock in a research note on Tuesday, June 11th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Toronto-Dominion Bank has an average rating of “Buy” and an average price target of $74.67.
Toronto-Dominion Bank Profile
The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. The company operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. It offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; financing options to customers at point of sale for automotive and recreational vehicle purchases through auto dealer network; credit cards; investing, advice-based, and asset management services to retail and institutional clients; and property and casualty insurance, as well as life and health insurance products.
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