Toronto Dominion Bank (The) $TD Stock: Carnegie Lake Advisors LLC Lowers Holdings

Carnegie Lake Advisors LLC reduced its position in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 95.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 354 shares of the bank’s stock after selling 6,945 shares during the quarter. Carnegie Lake Advisors LLC’s holdings in Toronto Dominion Bank were worth $42,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cornerstone Financial Management LLC lifted its stake in Toronto Dominion Bank by 77.2% in the second quarter. Cornerstone Financial Management LLC now owns 218 shares of the bank’s stock valued at $26,000 after acquiring an additional 95 shares during the last quarter. Chicago Partners Investment Group LLC increased its stake in shares of Toronto Dominion Bank by 1.8% during the 1st quarter. Chicago Partners Investment Group LLC now owns 5,735 shares of the bank’s stock worth $535,000 after purchasing an additional 102 shares during the last quarter. Aspiriant LLC increased its stake in shares of Toronto Dominion Bank by 2.4% during the 3rd quarter. Aspiriant LLC now owns 4,343 shares of the bank’s stock worth $510,000 after purchasing an additional 103 shares during the last quarter. Checchi Capital Advisers LLC raised its holdings in shares of Toronto Dominion Bank by 1.5% in the 1st quarter. Checchi Capital Advisers LLC now owns 7,194 shares of the bank’s stock valued at $671,000 after purchasing an additional 104 shares during the period. Finally, Simplicity Wealth LLC raised its holdings in shares of Toronto Dominion Bank by 2.7% in the 3rd quarter. Simplicity Wealth LLC now owns 4,236 shares of the bank’s stock valued at $498,000 after purchasing an additional 112 shares during the period. 52.37% of the stock is owned by institutional investors.

Toronto Dominion Bank Trading Down 0.0%

Shares of TD stock opened at $122.35 on Monday. The firm has a 50 day moving average price of $121.09 and a two-hundred day moving average price of $111.23. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $199.34 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 1.12 and a beta of 0.72. Toronto Dominion Bank has a 12-month low of $79.74 and a 12-month high of $128.79.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings data on Thursday, August 27th. The bank reported $1.98 earnings per share (EPS) for the quarter, topping 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 company had revenue of $12.07 billion during the quarter, compared to analysts’ expectations of $10.70 billion. During the same quarter in the previous year, the company posted $2.20 earnings per share. The business’s revenue was up 6.9% on a year-over-year basis. As a group, analysts predict that Toronto Dominion Bank will post 7.04 earnings per share for the current year.

Toronto Dominion Bank announced that its board has initiated a stock buyback plan on Wednesday, September 30th that permits the company to repurchase $7.14 billion in shares. This repurchase authorization permits the bank to repurchase up to 3.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Toronto Dominion Bank Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Saturday, October 31st. Investors of record on Friday, October 9th were issued a dividend of C$1.12 per share. This represents a $4.48 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Friday, October 9th. Toronto Dominion Bank’s dividend payout ratio (DPR) is presently 46.66%.

Wall Street Analyst Weigh In

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

Toronto Dominion Bank Profile

The Toronto-Dominion Bank, commonly known as TD Bank Group, is a Canadian financial services company serving personal, business, corporate and institutional clients. Its services include everyday banking, deposits, mortgages and other lending, credit cards, wealth management, insurance and capital markets services.

TD operates primarily in Canada and the United States through businesses that include TD Canada Trust, TD Bank and TD Securities. It also provides investment and wealth-management services through its TD Wealth businesses.

The bank traces its history to the Bank of Toronto, founded in 1855.