Litman Gregory Wealth Management LLC Sells 1,250 Shares of The Toronto-Dominion Bank (NYSE:TD)

Litman Gregory Wealth Management LLC lowered its position in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 20.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,875 shares of the bank’s stock after selling 1,250 shares during the period. Litman Gregory Wealth Management LLC’s holdings in Toronto-Dominion Bank were worth $308,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. National Bank of Canada FI lifted its holdings in shares of Toronto-Dominion Bank by 6.2% in the first quarter. National Bank of Canada FI now owns 29,655,117 shares of the bank’s stock valued at $1,677,917,000 after purchasing an additional 1,736,931 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Toronto-Dominion Bank by 0.8% in the second quarter. Mackenzie Financial Corp now owns 25,997,122 shares of the bank’s stock valued at $1,429,186,000 after purchasing an additional 218,807 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in shares of Toronto-Dominion Bank by 6.0% in the second quarter. 1832 Asset Management L.P. now owns 25,803,480 shares of the bank’s stock valued at $1,418,159,000 after purchasing an additional 1,462,794 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of Toronto-Dominion Bank by 9.6% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 13,814,269 shares of the bank’s stock valued at $759,449,000 after purchasing an additional 1,206,574 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Toronto-Dominion Bank by 3.1% in the second quarter. Massachusetts Financial Services Co. MA now owns 11,884,896 shares of the bank’s stock valued at $653,194,000 after purchasing an additional 358,283 shares in the last quarter. Institutional investors own 52.37% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on TD shares. Royal Bank of Canada lowered Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a report on Friday, October 11th. UBS Group started coverage on Toronto-Dominion Bank in a report on Tuesday, July 2nd. They issued a “neutral” rating on the stock. StockNews.com lowered Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Thursday, August 22nd. Finally, National Bank Financial raised Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $84.00.

Toronto-Dominion Bank Stock Performance

TD stock traded down $0.70 during midday trading on Wednesday, hitting $56.57. The company’s stock had a trading volume of 436,093 shares, compared to its average volume of 2,802,277. The stock has a market cap of $98.85 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 1.65 and a beta of 0.81. The stock’s 50-day moving average price is $60.63 and its 200 day moving average price is $57.99. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.10. The Toronto-Dominion Bank has a 1 year low of $53.52 and a 1 year high of $65.12.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.56. The firm had revenue of $14.18 billion for the quarter, compared to analyst estimates of $9.40 billion. Toronto-Dominion Bank had a return on equity of 14.34% and a net margin of 6.94%. The business’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.48 earnings per share. On average, equities analysts forecast that The Toronto-Dominion Bank will post 5.82 EPS for the current year.

Toronto-Dominion Bank Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be paid a $0.739 dividend. The ex-dividend date is Thursday, October 10th. This represents a $2.96 annualized dividend and a dividend yield of 5.23%. Toronto-Dominion Bank’s payout ratio is presently 68.41%.

Toronto-Dominion Bank Company Profile

The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.