Ashton Thomas Private Wealth LLC Reduces Stock Position in The Toronto-Dominion Bank (NYSE:TD)

Ashton Thomas Private Wealth LLC trimmed its stake in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 36.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,857 shares of the bank’s stock after selling 8,469 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Toronto-Dominion Bank were worth $940,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. National Bank of Canada FI grew 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 worth $1,677,917,000 after acquiring an additional 1,736,931 shares during the period. Mackenzie Financial Corp grew its stake in shares of Toronto-Dominion Bank by 0.8% during the 2nd 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 during the period. 1832 Asset Management L.P. increased its position in shares of Toronto-Dominion Bank by 6.0% during the 2nd 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 during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Toronto-Dominion Bank by 9.6% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 13,814,269 shares of the bank’s stock worth $759,449,000 after purchasing an additional 1,206,574 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted 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 worth $653,194,000 after buying an additional 358,283 shares during the last quarter. Institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Stock Down 0.1 %

TD opened at $56.09 on Thursday. The stock has a market cap of $98.07 billion, a price-to-earnings ratio of 17.92, a price-to-earnings-growth ratio of 1.60 and a beta of 0.82. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02. The firm’s fifty day moving average is $59.69 and its 200 day moving average is $57.79. The Toronto-Dominion Bank has a fifty-two week low of $53.52 and a fifty-two week high of $65.12.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings data on Thursday, August 22nd. The bank reported $2.05 EPS for the quarter, beating the consensus estimate of $1.49 by $0.56. Toronto-Dominion Bank had a return on equity of 14.34% and a net margin of 6.94%. The business had revenue of $14.18 billion for the quarter, compared to the consensus estimate of $9.40 billion. During the same period in the previous year, the business earned $1.48 earnings per share. The business’s revenue was up 9.8% on a year-over-year basis. On average, sell-side analysts forecast that The Toronto-Dominion Bank will post 5.8 earnings per share for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were issued a dividend of $0.739 per share. This represents a $2.96 dividend on an annualized basis and a yield of 5.27%. The ex-dividend date was Thursday, October 10th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is currently 96.49%.

Analysts Set New Price Targets

Several research firms have weighed in on TD. Royal Bank of Canada downgraded shares of Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research report on Friday, October 11th. StockNews.com cut 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 report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Toronto-Dominion Bank presently has an average rating of “Hold” and a consensus target price of $84.00.

Toronto-Dominion Bank 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.