Sky Investment Group LLC Sells 3,004 Shares of The Toronto-Dominion Bank (NYSE:TD)

Sky Investment Group LLC decreased its holdings in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 20.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,796 shares of the bank’s stock after selling 3,004 shares during the quarter. Sky Investment Group LLC’s holdings in Toronto-Dominion Bank were worth $746,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in Toronto-Dominion Bank by 4.5% during the 4th quarter. Wellington Management Group LLP now owns 188,743 shares of the bank’s stock valued at $12,256,000 after acquiring an additional 8,159 shares in the last quarter. Mather Group LLC. bought a new stake in shares of Toronto-Dominion Bank during the first quarter valued at approximately $29,000. Park Avenue Securities LLC grew its stake in Toronto-Dominion Bank by 5.3% in the first quarter. Park Avenue Securities LLC now owns 3,641 shares of the bank’s stock worth $220,000 after purchasing an additional 184 shares during the period. Gulf International Bank UK Ltd raised its holdings in Toronto-Dominion Bank by 6.4% in the first quarter. Gulf International Bank UK Ltd now owns 11,838 shares of the bank’s stock worth $714,000 after purchasing an additional 707 shares in the last quarter. Finally, Ballentine Partners LLC lifted its position in Toronto-Dominion Bank by 12.5% during the first quarter. Ballentine Partners LLC now owns 11,227 shares of the bank’s stock valued at $678,000 after buying an additional 1,244 shares during the period. Institutional investors own 52.37% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TD. Royal Bank of Canada lowered shares of Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research note on Friday, October 11th. StockNews.com downgraded shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Thursday, August 22nd. UBS Group started coverage on Toronto-Dominion Bank in a research report on Tuesday, July 2nd. They issued a “neutral” rating on the stock. Finally, National Bank Financial raised Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research report on Thursday, August 22nd. One research 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 company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $84.00.

Toronto-Dominion Bank Stock Performance

Shares of TD stock traded down $0.04 during trading hours on Tuesday, reaching $56.63. The company had a trading volume of 611,255 shares, compared to its average volume of 2,802,573. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02. The business has a fifty day moving average price of $60.64 and a 200-day moving average price of $58.00. The Toronto-Dominion Bank has a one year low of $53.52 and a one year high of $65.12. The firm has a market cap of $98.95 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 1.65 and a beta of 0.81.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings data on Thursday, August 22nd. The bank reported $2.05 EPS for the quarter, topping the consensus estimate of $1.49 by $0.56. Toronto-Dominion Bank had a return on equity of 14.34% and a net margin of 6.94%. The company had revenue of $14.18 billion during the quarter, compared to analyst estimates of $9.40 billion. During the same quarter in the previous year, the company posted $1.48 earnings per share. Toronto-Dominion Bank’s revenue was up 9.8% compared to the same quarter last year. Sell-side analysts predict that The Toronto-Dominion Bank will post 5.82 earnings per share for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be paid a $0.739 dividend. This represents a $2.96 annualized dividend and a dividend yield of 5.22%. The ex-dividend date of this dividend is Thursday, October 10th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 68.41%.

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.