Toronto Dominion Bank (The) $TD Stock: Heathbridge Capital Management Ltd. Reduces Holdings

Heathbridge Capital Management Ltd. lessened its stake in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 10.2% in the 3rd quarter, Holdings Channel reports. The firm owned 190,875 shares of the bank’s stock after selling 21,675 shares during the period. Toronto Dominion Bank comprises about 7.5% of Heathbridge Capital Management Ltd.’s portfolio, making the stock its largest holding. Heathbridge Capital Management Ltd.’s holdings in Toronto Dominion Bank were worth $22,439,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Next Level Wealth Planning LLC purchased a new position in shares of Toronto Dominion Bank during the third quarter worth $129,000. Vise Technologies Inc. raised its holdings in shares of Toronto Dominion Bank by 14.4% in the 3rd quarter. Vise Technologies Inc. now owns 54,984 shares of the bank’s stock valued at $6,462,000 after buying an additional 6,901 shares during the period. Cidel Asset Management Inc. raised its holdings in shares of Toronto Dominion Bank by 8.8% in the 3rd quarter. Cidel Asset Management Inc. now owns 487,707 shares of the bank’s stock valued at $57,480,000 after buying an additional 39,409 shares during the period. Canopy Partners LLC raised its holdings in shares of Toronto Dominion Bank by 16.8% in the 3rd quarter. Canopy Partners LLC now owns 3,190 shares of the bank’s stock valued at $375,000 after buying an additional 458 shares during the period. Finally, Choreo LLC acquired a new position in Toronto Dominion Bank during the 3rd quarter worth about $220,000. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Toronto Dominion Bank Stock Down 0.3%

Shares of NYSE TD opened at $124.72 on Wednesday. The business has a 50-day moving average of $120.81 and a two-hundred day moving average of $110.76. The company has a market capitalization of $203.20 billion, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 1.14 and a beta of 0.72. Toronto Dominion Bank has a 1 year low of $79.52 and a 1 year high of $127.96. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.03 and a quick ratio of 1.03.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings data on Thursday, August 27th. The bank reported $1.98 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.24. Toronto Dominion Bank had a return on equity of 14.88% and a net margin of 14.41%. The business had revenue of $12.07 billion for the quarter, compared to the consensus estimate of $10.70 billion. During the same quarter in the prior year, the business posted $2.20 EPS. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, analysts forecast that Toronto Dominion Bank will post 7.04 earnings per share for the current fiscal year.

Toronto Dominion Bank announced that its board has authorized a share repurchase program on Wednesday, September 30th that authorizes the company to buy back $7.14 billion in outstanding shares. This buyback authorization authorizes the bank to buy up to 3.5% of its shares through open market purchases. Share buyback programs are often a sign that the company’s leadership believes its shares are undervalued.

Toronto Dominion Bank Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Saturday, October 31st. Investors of record on Friday, October 9th were issued a C$1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Friday, October 9th. Toronto Dominion Bank’s dividend payout ratio is 46.81%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on TD shares. Keefe, Bruyette & Woods began coverage on Toronto Dominion Bank in a report on Friday, August 21st. They set a “market perform” rating for the company. Wall Street Zen raised Toronto Dominion Bank from a “sell” rating to a “hold” rating in a research report on Saturday, August 22nd. Finally, Weiss Ratings upgraded shares of Toronto Dominion Bank from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Wednesday, October 21st. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $148.00.

Toronto Dominion Bank Company Profile

Toronto-Dominion Bank, operating as TD Bank Group, is a Canadian financial services company headquartered in Toronto, Ontario. The institution traces its history to the Bank of Toronto, founded in 1855, and the Dominion Bank, founded in 1869; the two banks merged in 1955 to form Toronto-Dominion Bank.

TD provides a broad range of banking and financial services through its Canadian and U.S. operations. Its offerings include personal and business deposit accounts, mortgages, consumer and commercial lending, credit cards, investment products, insurance, wealth management and financial advice.