Oppenheimer & Co. Inc. Cuts Position in The Toronto-Dominion Bank (NYSE:TD)

Posted by Defense World Staff on Feb 24th, 2023

Oppenheimer & Co. Inc. lessened its holdings in The Toronto-Dominion Bank (NYSE:TD – Get Rating) (TSE:TD) by 21.9% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,856 shares of the bank’s stock after selling 3,045 shares during the period. Oppenheimer & Co. Inc.’s holdings in Toronto-Dominion Bank were worth $666,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fairfield Bush & CO. purchased a new position in Toronto-Dominion Bank in the first quarter valued at approximately $26,000. BlackRock Inc. lifted its stake in Toronto-Dominion Bank by 6.3% in the first quarter. BlackRock Inc. now owns 914,064 shares of the bank’s stock valued at $72,595,000 after purchasing an additional 54,121 shares during the last quarter. U.S. Capital Wealth Advisors LLC purchased a new position in Toronto-Dominion Bank in the first quarter valued at approximately $200,000. Raymond James Trust N.A. lifted its stake in Toronto-Dominion Bank by 1.7% in the first quarter. Raymond James Trust N.A. now owns 9,868 shares of the bank’s stock valued at $784,000 after purchasing an additional 161 shares during the last quarter. Finally, Cetera Investment Advisers lifted its stake in Toronto-Dominion Bank by 21.8% in the first quarter. Cetera Investment Advisers now owns 12,022 shares of the bank’s stock valued at $955,000 after purchasing an additional 2,154 shares during the last quarter. Hedge funds and other institutional investors own 49.22% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on TD shares. Canaccord Genuity Group upgraded Toronto-Dominion Bank from a “hold” rating to a “buy” rating and upped their price objective for the company from C$95.00 to C$103.00 in a research note on Monday, December 5th. Scotiabank increased their target price on Toronto-Dominion Bank from C$100.00 to C$104.00 in a research report on Friday, February 17th. Canaccord Genuity Group upgraded Toronto-Dominion Bank from a “hold” rating to a “buy” rating in a research report on Friday, December 2nd. National Bank Financial dropped their target price on Toronto-Dominion Bank from C$106.00 to C$103.00 in a research report on Friday, November 18th. Finally, Credit Suisse Group increased their target price on Toronto-Dominion Bank from C$96.00 to C$98.00 in a research report on Friday, December 2nd. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $100.57.

Toronto-Dominion Bank Trading Down 0.9 %

Toronto-Dominion Bank stock opened at $66.78 on Friday. The stock has a market cap of $121.67 billion, a P/E ratio of 9.12, a PEG ratio of 1.36 and a beta of 0.90. The Toronto-Dominion Bank has a fifty-two week low of $57.27 and a fifty-two week high of $82.64. The firm’s fifty day moving average price is $66.70 and its 200-day moving average price is $65.60. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.97 and a current ratio of 0.97.

Toronto-Dominion Bank (NYSE:TD – Get Rating) (TSE:TD) last released its earnings results on Thursday, December 1st. The bank reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.14. Toronto-Dominion Bank had a return on equity of 15.91% and a net margin of 23.48%. The business had revenue of $11.69 billion for the quarter. Equities research analysts forecast that The Toronto-Dominion Bank will post 6.66 earnings per share for the current fiscal year.

Toronto-Dominion Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 31st. Stockholders of record on Friday, January 6th were paid a dividend of $0.7081 per share. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $0.70. This represents a $2.83 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend was Thursday, January 5th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is 38.66%.

Toronto-Dominion Bank Profile

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The Toronto-Dominion Bank engages in the provision of financial products and services. It operates through the following segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The Canadian Retail segment offers various financial products and services, as well as telephone, Internet, and mobile banking services.