Oppenheimer & Co. Inc. reduced its holdings in shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 13.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 4,504 shares of the bank’s stock after selling 721 shares during the period. Oppenheimer & Co. Inc.’s holdings in Toronto-Dominion Bank were worth $263,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of TD. Atria Investments LLC raised its position in Toronto-Dominion Bank by 1,018.1% during the 2nd quarter. Atria Investments LLC now owns 44,937 shares of the bank’s stock valued at $286,000 after purchasing an additional 40,918 shares in the last quarter. Van Hulzen Asset Management LLC grew its stake in Toronto-Dominion Bank by 13.0% during the 2nd quarter. Van Hulzen Asset Management LLC now owns 106,918 shares of the bank’s stock worth $6,240,000 after buying an additional 12,291 shares during the last quarter. Probity Advisors Inc. purchased a new position in Toronto-Dominion Bank during the 2nd quarter worth $213,000. Acadian Asset Management LLC grew its stake in Toronto-Dominion Bank by 0.7% during the 2nd quarter. Acadian Asset Management LLC now owns 10,084,600 shares of the bank’s stock worth $590,531,000 after buying an additional 69,129 shares during the last quarter. Finally, Smith Asset Management Group LP grew its stake in Toronto-Dominion Bank by 0.6% during the 2nd quarter. Smith Asset Management Group LP now owns 47,201 shares of the bank’s stock worth $2,755,000 after buying an additional 300 shares during the last quarter. 50.31% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently weighed in on TD. Barclays set a $80.00 target price on Toronto-Dominion Bank and gave the stock a “buy” rating in a research note on Thursday, August 29th. Bank of America downgraded Toronto-Dominion Bank from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $82.00 to $77.00 in a research note on Thursday, August 15th. Royal Bank of Canada set a $82.00 target price on Toronto-Dominion Bank and gave the stock a “hold” rating in a research note on Friday, August 30th. Canaccord Genuity set a $81.00 price target on Toronto-Dominion Bank and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, BMO Capital Markets downgraded Toronto-Dominion Bank from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $85.00 to $78.00 in a research note on Friday, August 30th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $78.56.
Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings results on Thursday, August 29th. The bank reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.45. The business had revenue of $10.50 billion during the quarter, compared to analyst estimates of $9.80 billion. Toronto-Dominion Bank had a return on equity of 16.08% and a net margin of 20.02%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.66 earnings per share. On average, analysts forecast that Toronto-Dominion Bank will post 5.14 EPS for the current year.
The firm also recently disclosed a — dividend, which will be paid on Thursday, October 31st. Investors of record on Thursday, October 10th will be given a $0.556 dividend. The ex-dividend date is Wednesday, October 9th. This represents a yield of 4.1%. Toronto-Dominion Bank’s payout ratio is 44.93%.
About Toronto-Dominion Bank
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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