The Toronto-Dominion Bank (NYSE:TD) Shares Sold by Covenant Asset Management LLC

Covenant Asset Management LLC decreased its holdings in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 8.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,342 shares of the bank’s stock after selling 600 shares during the quarter. Covenant Asset Management LLC’s holdings in Toronto-Dominion Bank were worth $401,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. CreativeOne Wealth LLC acquired a new stake in Toronto-Dominion Bank in the first quarter valued at approximately $245,000. EP Wealth Advisors LLC lifted its holdings in Toronto-Dominion Bank by 7.2% in the 1st quarter. EP Wealth Advisors LLC now owns 10,546 shares of the bank’s stock worth $637,000 after buying an additional 704 shares in the last quarter. Bank of Nova Scotia Trust Co. lifted its stake in shares of Toronto-Dominion Bank by 1.7% in the first quarter. Bank of Nova Scotia Trust Co. now owns 902,572 shares of the bank’s stock worth $54,497,000 after acquiring an additional 15,457 shares in the last quarter. Magnetar Financial LLC acquired a new position in shares of Toronto-Dominion Bank in the 1st quarter valued at approximately $3,501,000. Finally, BOKF NA boosted its stake in shares of Toronto-Dominion Bank by 203.6% during the 1st quarter. BOKF NA now owns 1,014 shares of the bank’s stock valued at $61,000 after buying an additional 680 shares during the last quarter. 52.37% of the stock is owned by hedge funds and other institutional investors.

Toronto-Dominion Bank Price Performance

Shares of NYSE:TD opened at $55.93 on Friday. The company has a market cap of $97.89 billion, a PE ratio of 17.87, a P/E/G ratio of 1.59 and a beta of 0.82. The Toronto-Dominion Bank has a fifty-two week low of $53.52 and a fifty-two week high of $65.12. The firm has a 50-day simple moving average of $59.02 and a 200 day simple moving average of $57.70. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.10.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $14.18 billion for the quarter, compared to analysts’ expectations of $9.40 billion. During the same period in the prior year, the firm earned $1.48 EPS. The business’s quarterly revenue was up 9.8% on a year-over-year basis. On average, sell-side analysts anticipate that The Toronto-Dominion Bank will post 5.76 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have commented on the stock. StockNews.com downgraded shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Thursday, August 22nd. Royal Bank of Canada cut shares of Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research report on Friday, October 11th. Barclays lowered Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a report on Thursday. Finally, National Bank Financial raised Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a report on Thursday, August 22nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $84.00.

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.