HM Payson & Co. Lowers Stock Position in The Toronto-Dominion Bank (NYSE:TD)

HM Payson & Co. cut its holdings in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 2.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,351 shares of the bank’s stock after selling 400 shares during the period. HM Payson & Co.’s holdings in The Toronto-Dominion Bank were worth $1,035,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of TD. Evolution Wealth Advisors LLC purchased a new position in The Toronto-Dominion Bank in the 4th quarter valued at $25,000. RWM Asset Management LLC purchased a new position in The Toronto-Dominion Bank in the 4th quarter valued at $26,000. Birchcreek Wealth Management LLC purchased a new position in The Toronto-Dominion Bank in the 4th quarter valued at $28,000. Montag A & Associates Inc. purchased a new position in The Toronto-Dominion Bank in the 4th quarter valued at $28,000. Finally, Perigon Wealth Management LLC purchased a new position in The Toronto-Dominion Bank in the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 48.01% of the company’s stock.

Shares of TD opened at $66.33 on Thursday. The business’s 50 day moving average is $63.84 and its two-hundred day moving average is $55.50. The Toronto-Dominion Bank has a 52-week low of $37.62 and a 52-week high of $67.23. The firm has a market cap of $120.63 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 1.54 and a beta of 1.04. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.13.

The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its earnings results on Wednesday, February 24th. The bank reported $1.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.66. The company had revenue of $8.40 billion for the quarter, compared to analyst estimates of $7.54 billion. The Toronto-Dominion Bank had a return on equity of 11.63% and a net margin of 22.23%. On average, equities analysts expect that The Toronto-Dominion Bank will post 4.65 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, April 30th. Investors of record on Friday, April 9th will be given a dividend of $0.6314 per share. This is a positive change from The Toronto-Dominion Bank’s previous quarterly dividend of $0.61. This represents a $2.53 annualized dividend and a dividend yield of 3.81%. The ex-dividend date of this dividend is Thursday, April 8th. The Toronto-Dominion Bank’s dividend payout ratio is currently 62.16%.

TD has been the topic of several research analyst reports. BMO Capital Markets boosted their target price on shares of The Toronto-Dominion Bank from $75.00 to $82.00 and gave the stock a “market perform” rating in a research report on Friday, February 26th. Canaccord Genuity boosted their target price on shares of The Toronto-Dominion Bank from $77.50 to $83.00 and gave the stock a “hold” rating in a research report on Friday, February 26th. Desjardins boosted their target price on shares of The Toronto-Dominion Bank from $79.00 to $83.00 and gave the stock a “buy” rating in a research report on Monday, March 1st. CIBC boosted their target price on shares of The Toronto-Dominion Bank from $84.00 to $88.00 and gave the company an “outperform” rating in a research note on Friday, February 26th. Finally, Barclays upped their price target on The Toronto-Dominion Bank from $72.00 to $75.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 16th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. The Toronto-Dominion Bank currently has an average rating of “Hold” and a consensus target price of $76.08.

The Toronto-Dominion Bank Profile

The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. The company operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. It offers personal deposits, such as chequing, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; financing options to customers at point of sale for automotive and recreational vehicle purchases through auto dealer network; credit cards; point-of-sale payment solutions for large and small businesses; wealth and asset management products, and advice to retail and institutional clients; and property and casualty insurance, as well as life and health insurance products.

Further Reading: Basic Economics

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Institutional Ownership by Quarter for The Toronto-Dominion Bank (NYSE:TD)

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