Probity Advisors Inc. Buys 2,655 Shares of The Toronto-Dominion Bank (NYSE:TD)

Probity Advisors Inc. boosted its stake in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 16.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,236 shares of the bank’s stock after purchasing an additional 2,655 shares during the period. Probity Advisors Inc.’s holdings in Toronto-Dominion Bank were worth $1,217,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. CWM LLC lifted its stake in shares of Toronto-Dominion Bank by 2.4% in the 3rd quarter. CWM LLC now owns 7,208 shares of the bank’s stock valued at $456,000 after acquiring an additional 170 shares during the last quarter. Park Avenue Securities LLC raised its position 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 valued at $220,000 after purchasing an additional 184 shares during the last quarter. Consolidated Portfolio Review Corp boosted its stake in shares of Toronto-Dominion Bank by 1.6% during the first quarter. Consolidated Portfolio Review Corp now owns 11,583 shares of the bank’s stock valued at $699,000 after purchasing an additional 186 shares in the last quarter. First Affirmative Financial Network grew its holdings in shares of Toronto-Dominion Bank by 1.9% during the second quarter. First Affirmative Financial Network now owns 10,120 shares of the bank’s stock worth $556,000 after purchasing an additional 190 shares during the last quarter. Finally, Wright Investors Service Inc. increased its stake in shares of Toronto-Dominion Bank by 0.5% in the first quarter. Wright Investors Service Inc. now owns 35,158 shares of the bank’s stock valued at $2,123,000 after buying an additional 191 shares during the period. Institutional investors and hedge funds own 52.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Royal Bank of Canada downgraded shares of Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research report on Friday, October 11th. UBS Group initiated coverage on shares of Toronto-Dominion Bank in a report on Tuesday, July 2nd. They set a “neutral” rating on the stock. National Bank Financial upgraded Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a report on Thursday, August 22nd. Finally, StockNews.com downgraded Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Thursday, August 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $84.00.

Toronto-Dominion Bank Trading Up 0.1 %

TD opened at $56.38 on Thursday. The Toronto-Dominion Bank has a twelve month low of $53.52 and a twelve month high of $65.12. The company has a fifty day moving average of $60.67 and a 200-day moving average of $58.08. The stock has a market cap of $98.58 billion, a PE ratio of 18.00, a price-to-earnings-growth ratio of 1.65 and a beta of 0.81. 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 issued its quarterly earnings results on Thursday, August 22nd. The bank reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.56. Toronto-Dominion Bank had a net margin of 6.94% and a return on equity of 14.34%. The business had revenue of $14.18 billion for the quarter, compared to analysts’ expectations of $9.40 billion. During the same quarter in the prior year, the firm posted $1.48 earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, sell-side analysts predict that The Toronto-Dominion Bank will post 5.85 EPS for the current year.

Toronto-Dominion Bank Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be issued a $0.739 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.96 dividend on an annualized basis and a yield of 5.24%. Toronto-Dominion Bank’s payout ratio is currently 96.49%.

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.