Mn Services Vermogensbeheer B.V. Reduces Stake in The Toronto-Dominion Bank (NYSE:TD)

Mn Services Vermogensbeheer B.V. reduced its holdings in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 12.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 340,800 shares of the bank’s stock after selling 46,500 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Toronto-Dominion Bank were worth $20,418,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in TD. Vanguard Group Inc. boosted its holdings in Toronto-Dominion Bank by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 74,118,551 shares of the bank’s stock valued at $3,946,072,000 after acquiring an additional 1,415,934 shares in the last quarter. FIL Ltd lifted its position in shares of Toronto-Dominion Bank by 17.3% in the 4th quarter. FIL Ltd now owns 38,989,749 shares of the bank’s stock worth $2,075,819,000 after purchasing an additional 5,756,584 shares during the period. Mackenzie Financial Corp lifted its position in shares of Toronto-Dominion Bank by 5.6% in the 4th quarter. Mackenzie Financial Corp now owns 27,990,674 shares of the bank’s stock worth $1,488,233,000 after purchasing an additional 1,491,472 shares during the period. Norges Bank bought a new stake in shares of Toronto-Dominion Bank during the 4th quarter valued at about $992,204,000. Finally, Beutel Goodman & Co Ltd. increased its position in shares of Toronto-Dominion Bank by 3.8% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 16,803,807 shares of the bank’s stock valued at $894,169,000 after buying an additional 622,736 shares during the period. 52.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TD has been the topic of several research reports. Wall Street Zen raised Toronto-Dominion Bank from a “sell” rating to a “hold” rating in a research report on Saturday, May 24th. Scotiabank assumed coverage on Toronto-Dominion Bank in a research report on Thursday, May 15th. They set a “sector perform” rating on the stock. Royal Bank of Canada upped their price target on Toronto-Dominion Bank from $87.00 to $93.00 and gave the stock a “sector perform” rating in a research note on Friday, May 23rd. Finally, Jefferies Financial Group downgraded Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Toronto-Dominion Bank has an average rating of “Hold” and a consensus target price of $93.00.

Toronto-Dominion Bank Stock Performance

Toronto-Dominion Bank stock opened at $70.80 on Monday. The stock’s 50 day moving average is $64.46 and its 200 day moving average is $59.56. The company has a market capitalization of $121.97 billion, a P/E ratio of 20.40, a PEG ratio of 1.95 and a beta of 0.82. The Toronto-Dominion Bank has a twelve month low of $51.25 and a twelve month high of $71.05. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.11.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its earnings results on Thursday, May 22nd. The bank reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.14. The firm had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $13.36 billion. Toronto-Dominion Bank had a return on equity of 13.96% and a net margin of 7.37%. During the same period in the prior year, the firm posted $2.04 earnings per share. On average, equities research analysts predict that The Toronto-Dominion Bank will post 5.48 earnings per share for the current fiscal year.

Toronto-Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 10th will be paid a dividend of $0.7568 per share. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.73. This represents a $3.03 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date of this dividend is Thursday, July 10th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is currently 44.72%.

About Toronto-Dominion Bank

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.