Farmers & Merchants Investments Inc. Has $302,000 Stake in The Toronto-Dominion Bank (NYSE:TD)

Farmers & Merchants Investments Inc. lowered its holdings in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 9.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,006 shares of the bank’s stock after selling 516 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Toronto-Dominion Bank were worth $302,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Canoe Financial LP boosted its stake in shares of Toronto-Dominion Bank by 2,035.4% in the fourth quarter. Canoe Financial LP now owns 42,808,439 shares of the bank’s stock valued at $2,766,281,000 after buying an additional 40,803,711 shares during the period. Norges Bank bought a new position in shares of Toronto-Dominion Bank in the fourth quarter worth $1,478,898,000. TD Asset Management Inc raised its stake in Toronto-Dominion Bank by 28.9% in the fourth quarter. TD Asset Management Inc now owns 46,469,553 shares of the bank’s stock valued at $3,017,384,000 after purchasing an additional 10,415,591 shares in the last quarter. Clearbridge Investments LLC bought a new stake in Toronto-Dominion Bank during the fourth quarter worth about $184,389,000. Finally, The Manufacturers Life Insurance Company increased its holdings in Toronto-Dominion Bank by 20.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 17,134,868 shares of the bank’s stock valued at $1,039,691,000 after buying an additional 2,870,662 shares during the period. Institutional investors and hedge funds own 52.37% of the company’s stock.

Toronto-Dominion Bank Trading Up 0.3 %

Toronto-Dominion Bank stock traded up $0.19 during trading hours on Tuesday, hitting $54.73. The stock had a trading volume of 475,451 shares, compared to its average volume of 2,857,477. The business’s 50 day simple moving average is $56.09 and its 200-day simple moving average is $58.95. The Toronto-Dominion Bank has a one year low of $53.52 and a one year high of $66.15. The stock has a market cap of $95.63 billion, a price-to-earnings ratio of 12.40, a P/E/G ratio of 1.51 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.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its earnings results 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 net margin of 9.96% and a return on equity of 14.38%. The business had revenue of $10.18 billion for the quarter, compared to the consensus estimate of $9.90 billion. On average, equities analysts predict that The Toronto-Dominion Bank will post 5.86 EPS for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th will be given a dividend of $0.74 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 5.41%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is 68.64%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TD. National Bank Financial downgraded shares of Toronto-Dominion Bank from a “sector perform” rating to an “underperform” rating in a report on Thursday, May 23rd. UBS Group initiated coverage on Toronto-Dominion Bank in a research note on Tuesday. They set a “neutral” rating for the company. Cibc World Mkts upgraded Toronto-Dominion Bank from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 24th. BMO Capital Markets dropped their price objective on Toronto-Dominion Bank from $86.00 to $84.00 and set a “market perform” rating for the company in a research report on Friday, May 24th. Finally, StockNews.com cut Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday, June 27th. 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $88.00.

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.