The Toronto-Dominion Bank (NYSE:TD) is Lincluden Management Ltd.’s 2nd Largest Position

Lincluden Management Ltd. decreased its position in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 2.8% during the third quarter, Holdings Channel reports. The fund owned 1,065,881 shares of the bank’s stock after selling 30,928 shares during the period. Toronto-Dominion Bank makes up about 7.4% of Lincluden Management Ltd.’s holdings, making the stock its 2nd biggest holding. Lincluden Management Ltd.’s holdings in Toronto-Dominion Bank were worth $67,442,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in TD. Forsta AP Fonden boosted its stake in Toronto-Dominion Bank by 3.2% during the third quarter. Forsta AP Fonden now owns 466,500 shares of the bank’s stock worth $29,531,000 after acquiring an additional 14,500 shares in the last quarter. Galibier Capital Management Ltd. boosted its position in shares of Toronto-Dominion Bank by 24.6% in the 3rd quarter. Galibier Capital Management Ltd. now owns 608,613 shares of the bank’s stock worth $38,527,000 after purchasing an additional 119,978 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. increased its position in Toronto-Dominion Bank by 4.5% during the 3rd quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,452,493 shares of the bank’s stock valued at $91,948,000 after buying an additional 62,569 shares in the last quarter. Williams Financial LLC bought a new position in Toronto-Dominion Bank during the 2nd quarter valued at approximately $10,454,000. Finally, Creative Planning raised its stake in Toronto-Dominion Bank by 9.8% during the third quarter. Creative Planning now owns 144,251 shares of the bank’s stock valued at $9,125,000 after buying an additional 12,879 shares during the last quarter. Institutional investors own 52.37% of the company’s stock.

Analysts Set New Price Targets

TD has been the subject of several analyst reports. StockNews.com downgraded Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Thursday, August 22nd. National Bank Financial raised shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” 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 research note on Friday, October 11th. One investment 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 stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $84.00.

Toronto-Dominion Bank Stock Performance

Shares of TD stock opened at $55.29 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.10. The company has a 50 day moving average price of $60.23 and a 200-day moving average price of $57.90. The Toronto-Dominion Bank has a 52 week low of $53.52 and a 52 week high of $65.12. The firm has a market capitalization of $96.68 billion, a PE ratio of 17.66, a P/E/G ratio of 1.63 and a beta of 0.81.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.56. The business had revenue of $14.18 billion during the quarter, compared to analyst estimates of $9.40 billion. Toronto-Dominion Bank had a net margin of 6.94% and a return on equity of 14.34%. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.48 EPS. As a group, equities research analysts expect that The Toronto-Dominion Bank will post 5.82 earnings per share for the current year.

Toronto-Dominion Bank Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were given a $0.739 dividend. The ex-dividend date was Thursday, October 10th. This represents a $2.96 annualized dividend and a yield of 5.35%. Toronto-Dominion Bank’s payout ratio is 96.49%.

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.