The Toronto-Dominion Bank (NYSE:TD) Shares Sold by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. trimmed its stake in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 14.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,160 shares of the bank’s stock after selling 2,450 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Toronto-Dominion Bank were worth $896,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Park Avenue Securities LLC boosted its position in Toronto-Dominion Bank by 5.3% during the 1st quarter. Park Avenue Securities LLC now owns 3,641 shares of the bank’s stock worth $220,000 after acquiring an additional 184 shares during the period. First Trust Direct Indexing L.P. boosted its position in Toronto-Dominion Bank by 7.0% during the first quarter. First Trust Direct Indexing L.P. now owns 12,887 shares of the bank’s stock valued at $778,000 after purchasing an additional 845 shares during the last quarter. Insight Folios Inc grew its stake in shares of Toronto-Dominion Bank by 5.2% in the 1st quarter. Insight Folios Inc now owns 97,504 shares of the bank’s stock valued at $5,887,000 after buying an additional 4,832 shares in the last quarter. Maryland State Retirement & Pension System raised its position in Toronto-Dominion Bank by 50.8% during the first quarter. Maryland State Retirement & Pension System now owns 94,883 shares of the bank’s stock valued at $5,364,000 after acquiring an additional 31,944 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in Toronto-Dominion Bank by 27.4% in the first quarter. Van ECK Associates Corp now owns 287,318 shares of the bank’s stock worth $17,347,000 after acquiring an additional 61,737 shares in the last quarter. Institutional investors and hedge funds own 52.37% of the company’s stock.

Toronto-Dominion Bank Price Performance

Shares of TD stock opened at $55.53 on Wednesday. The company has a market capitalization of $97.09 billion, a P/E ratio of 17.74, a P/E/G ratio of 1.65 and a beta of 0.81. 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 Toronto-Dominion Bank has a 12 month low of $53.52 and a 12 month high of $65.12. The stock has a 50 day moving average of $60.38 and a two-hundred day moving average of $57.93.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $14.18 billion for the quarter, compared to the consensus estimate of $9.40 billion. During the same quarter in the previous year, the company earned $1.48 earnings per share. The business’s revenue was up 9.8% compared to the same quarter last year. As a group, equities analysts expect that The Toronto-Dominion Bank will post 5.82 EPS for the current year.

Toronto-Dominion Bank Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be paid a $0.739 dividend. The ex-dividend date is Thursday, October 10th. This represents a $2.96 annualized dividend and a dividend yield of 5.32%. Toronto-Dominion Bank’s dividend payout ratio is currently 96.17%.

Wall Street Analyst Weigh In

TD has been the subject of several analyst reports. National Bank Financial raised shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research note on Thursday, August 22nd. UBS Group began coverage on shares of Toronto-Dominion Bank in a research report on Tuesday, July 2nd. They issued a “neutral” rating on the stock. 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. Finally, StockNews.com lowered Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $84.00.

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.