Harbour Investments Inc. Decreases Stock Holdings in The Toronto-Dominion Bank (NYSE:TD)

Harbour Investments Inc. trimmed its position in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 12.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 7,775 shares of the bank’s stock after selling 1,125 shares during the quarter. Harbour Investments Inc.’s holdings in Toronto-Dominion Bank were worth $492,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of TD. Triad Wealth Partners LLC purchased a new stake in shares of Toronto-Dominion Bank during the second quarter valued at about $31,000. Blue Trust Inc. increased its holdings in shares of Toronto-Dominion Bank by 50.7% during the second quarter. Blue Trust Inc. now owns 630 shares of the bank’s stock valued at $38,000 after acquiring an additional 212 shares in the last quarter. Kimelman & Baird LLC acquired a new position in shares of Toronto-Dominion Bank during the second quarter valued at about $49,000. BOKF NA increased its holdings in shares of Toronto-Dominion Bank by 203.6% during the first quarter. BOKF NA now owns 1,014 shares of the bank’s stock valued at $61,000 after acquiring an additional 680 shares in the last quarter. Finally, Eastern Bank acquired a new position in shares of Toronto-Dominion Bank during the third quarter valued at about $66,000. 52.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. National Bank Financial upgraded shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a report on Thursday, August 22nd. StockNews.com downgraded shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Thursday, August 22nd. Finally, Royal Bank of Canada downgraded shares of Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a report on Friday, October 11th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $84.00.

Toronto-Dominion Bank Price Performance

Shares of NYSE:TD opened at $55.93 on Friday. The Toronto-Dominion Bank has a twelve month low of $53.52 and a twelve month high of $65.12. The company’s 50 day moving average is $59.46 and its 200 day moving average is $57.75. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10. The company has a market cap of $97.79 billion, a PE ratio of 17.87, a price-to-earnings-growth ratio of 1.59 and a beta of 0.82.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.56. Toronto-Dominion Bank had a net margin of 6.94% and a return on equity of 14.34%. The company had revenue of $14.18 billion for the quarter, compared to the consensus estimate of $9.40 billion. During the same quarter in the prior year, the company earned $1.48 EPS. Toronto-Dominion Bank’s quarterly 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 EPS for the current year.

Toronto-Dominion Bank Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were paid a dividend of $0.739 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 5.29%. Toronto-Dominion Bank’s payout ratio is 96.17%.

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.