Transcend Capital Advisors LLC Increases Stake in The Toronto-Dominion Bank (NYSE:TD)

Transcend Capital Advisors LLC boosted its stake in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 2.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 21,007 shares of the bank’s stock after buying an additional 506 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Toronto-Dominion Bank were worth $1,155,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of TD. Private Trust Co. NA boosted its stake in Toronto-Dominion Bank by 10.6% during the fourth quarter. Private Trust Co. NA now owns 1,808 shares of the bank’s stock worth $117,000 after acquiring an additional 174 shares in the last quarter. International Assets Investment Management LLC bought a new position in Toronto-Dominion Bank during the 4th quarter valued at approximately $2,961,000. Prime Capital Investment Advisors LLC boosted its holdings in Toronto-Dominion Bank by 10.3% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 6,706 shares of the bank’s stock worth $433,000 after acquiring an additional 627 shares in the last quarter. QV Investors Inc. bought a new stake in Toronto-Dominion Bank in the fourth quarter worth $49,752,000. Finally, Stratos Wealth Partners LTD. grew its stake in shares of Toronto-Dominion Bank by 0.9% in the fourth quarter. Stratos Wealth Partners LTD. now owns 20,126 shares of the bank’s stock worth $1,301,000 after acquiring an additional 174 shares during the last quarter. 52.37% of the stock is owned by institutional investors.

Toronto-Dominion Bank Stock Performance

TD traded down $0.95 during mid-day trading on Monday, reaching $55.74. 1,005,282 shares of the company traded hands, compared to its average volume of 2,849,272. The company’s fifty day moving average price is $56.04 and its 200-day moving average price is $57.93. The stock has a market capitalization of $97.36 billion, a P/E ratio of 12.88, a P/E/G ratio of 1.56 and a beta of 0.82. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.11. The Toronto-Dominion Bank has a 52-week low of $53.52 and a 52-week high of $65.16.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings data on Thursday, May 23rd. The bank reported $1.50 EPS for the quarter, topping the consensus estimate of $1.35 by $0.15. Toronto-Dominion Bank had a return on equity of 14.38% and a net margin of 9.96%. The company had revenue of $10.18 billion during the quarter, compared to analyst estimates of $9.90 billion. On average, sell-side analysts expect that The Toronto-Dominion Bank will post 5.86 EPS for the current year.

Toronto-Dominion Bank Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th were given a dividend of $0.74 per share. This represents a $2.96 annualized dividend and a dividend yield of 5.31%. The ex-dividend date of this dividend was Wednesday, July 10th. Toronto-Dominion Bank’s payout ratio is currently 67.73%.

Analyst Ratings Changes

A number of brokerages recently issued reports on TD. Cibc World Mkts upgraded shares of Toronto-Dominion Bank from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 24th. UBS Group started coverage on shares of Toronto-Dominion Bank in a report on Tuesday, July 2nd. They set a “neutral” rating on the stock. Scotiabank upgraded shares of Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, April 17th. BMO Capital Markets cut their target price on Toronto-Dominion Bank from $86.00 to $84.00 and set a “market perform” rating on the stock in a research note on Friday, May 24th. Finally, National Bank Financial cut Toronto-Dominion Bank from a “sector perform” rating to an “underperform” rating in a research note on Thursday, May 23rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $88.00.

About Toronto-Dominion Bank

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.