M&R Capital Management Inc. Reduces Holdings in Toronto-Dominion Bank (NYSE:TD)

M&R Capital Management Inc. trimmed its position in shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 5.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 58,849 shares of the bank’s stock after selling 3,085 shares during the quarter. M&R Capital Management Inc.’s holdings in Toronto-Dominion Bank were worth $2,720,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Eqis Capital Management Inc. boosted its stake in Toronto-Dominion Bank by 22.6% during the first quarter. Eqis Capital Management Inc. now owns 11,561 shares of the bank’s stock worth $659,000 after buying an additional 2,133 shares during the last quarter. Van ECK Associates Corp boosted its stake in Toronto-Dominion Bank by 7.0% during the first quarter. Van ECK Associates Corp now owns 106,401 shares of the bank’s stock worth $4,527,000 after buying an additional 6,933 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in Toronto-Dominion Bank by 0.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 193,717 shares of the bank’s stock worth $8,180,000 after buying an additional 731 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its stake in Toronto-Dominion Bank by 49.5% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 499,831 shares of the bank’s stock worth $21,188,000 after buying an additional 165,503 shares during the last quarter. Finally, Pictet Asset Management Ltd. lifted its stake in shares of Toronto-Dominion Bank by 2.8% in the 1st quarter. Pictet Asset Management Ltd. now owns 702,106 shares of the bank’s stock valued at $29,513,000 after purchasing an additional 19,100 shares during the last quarter. Hedge funds and other institutional investors own 47.67% of the company’s stock.

Several research firms recently issued reports on TD. Zacks Investment Research lowered Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Thursday, August 13th. CIBC began coverage on Toronto-Dominion Bank in a research note on Friday, July 24th. They set a “neutral” rating on the stock. Barclays lowered Toronto-Dominion Bank from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $64.00 to $63.00 in a research note on Wednesday, August 19th. Wolfe Research lowered Toronto-Dominion Bank from an “outperform” rating to an “underperform” rating in a research note on Monday, June 8th. Finally, Royal Bank of Canada increased their target price on Toronto-Dominion Bank from $61.00 to $69.00 and gave the stock a “sector perform” rating in a research note on Friday, August 28th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. Toronto-Dominion Bank currently has an average rating of “Hold” and a consensus price target of $67.82.

Shares of TD traded up $0.30 during mid-day trading on Thursday, reaching $46.54. The company’s stock had a trading volume of 1,076,678 shares, compared to its average volume of 1,997,614. Toronto-Dominion Bank has a 12-month low of $33.74 and a 12-month high of $58.40. The stock has a market cap of $84.42 billion, a PE ratio of 12.06, a price-to-earnings-growth ratio of 1.84 and a beta of 0.91. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.97 and a quick ratio of 0.97. The company’s 50 day moving average is $47.83 and its 200 day moving average is $44.04.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings data on Thursday, August 27th. The bank reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.50. The business had revenue of $10.67 billion for the quarter, compared to the consensus estimate of $9.99 billion. Toronto-Dominion Bank had a return on equity of 11.84% and a net margin of 17.44%. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.79 EPS. As a group, sell-side analysts anticipate that Toronto-Dominion Bank will post 3.74 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Saturday, October 31st. Investors of record on Friday, October 9th will be paid a dividend of $0.589 per share. This represents a $2.36 dividend on an annualized basis and a yield of 5.06%. The ex-dividend date of this dividend is Thursday, October 8th. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $0.57. Toronto-Dominion Bank’s dividend payout ratio (DPR) is currently 46.32%.

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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Institutional Ownership by Quarter for Toronto-Dominion Bank (NYSE:TD)

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