Renaissance Technologies LLC Reduces Stake in Toronto Dominion Bank (The) $TD

Renaissance Technologies LLC lessened its holdings in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 81.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 96,180 shares of the bank’s stock after selling 431,900 shares during the period. Renaissance Technologies LLC’s holdings in Toronto Dominion Bank were worth $8,975,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Bayban purchased a new position in Toronto Dominion Bank in the fourth quarter valued at approximately $28,000. Harvest Fund Management Co. Ltd lifted its position in shares of Toronto Dominion Bank by 112.8% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 317 shares of the bank’s stock worth $30,000 after buying an additional 168 shares during the last quarter. CBIZ Investment Advisory Services LLC purchased a new stake in shares of Toronto Dominion Bank during the 4th quarter worth approximately $34,000. Brown Lisle Cummings Inc. boosted its holdings in shares of Toronto Dominion Bank by 88.4% in the 1st quarter. Brown Lisle Cummings Inc. now owns 407 shares of the bank’s stock valued at $38,000 after buying an additional 191 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Toronto Dominion Bank by 660.9% in the 2nd quarter. Smartleaf Asset Management LLC now owns 525 shares of the bank’s stock valued at $38,000 after buying an additional 456 shares in the last quarter. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Toronto Dominion Bank Stock Down 0.1%

Shares of NYSE:TD opened at $119.86 on Monday. Toronto Dominion Bank has a 1-year low of $72.21 and a 1-year high of $124.87. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market cap of $197.14 billion, a P/E ratio of 18.70, a P/E/G ratio of 1.34 and a beta of 0.72. The firm has a fifty day moving average price of $118.24 and a 200 day moving average price of $105.65.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings data on Thursday, May 28th. The bank reported $1.74 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.11. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. The company had revenue of $11.80 billion for the quarter, compared to analyst estimates of $11.04 billion. During the same period in the previous year, the business posted $1.97 earnings per share. Toronto Dominion Bank’s quarterly revenue was down 31.1% on a year-over-year basis. Sell-side analysts predict that Toronto Dominion Bank will post 6.86 EPS for the current year.

Toronto Dominion Bank Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 10th were issued a dividend of $1.12 per share. This is an increase from Toronto Dominion Bank’s previous quarterly dividend of $1.08. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Friday, July 10th. Toronto Dominion Bank’s dividend payout ratio is 49.14%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on TD shares. Raymond James Financial upgraded shares of Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research note on Tuesday, May 12th. Wall Street Zen downgraded shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. Weiss Ratings lowered Toronto Dominion Bank from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 21st. Zacks Research cut Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Finally, Scotiabank raised Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $156.00.

Toronto Dominion Bank Profile

Toronto-Dominion Bank (TD) is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. Formed through the 1955 merger of the Bank of Toronto (founded 1855) and the Dominion Bank (founded 1869), TD is one of Canada’s largest banks and offers a broad range of financial products and services to individual, small business, commercial and institutional clients.

TD’s core businesses include Canadian and U.S. personal and commercial banking, wealth management, wholesale banking and insurance.