American Assets Investment Management LLC Buys 10,000 Shares of The Toronto-Dominion Bank (NYSE:TD)

American Assets Investment Management LLC boosted its stake in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 6.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 165,000 shares of the bank’s stock after purchasing an additional 10,000 shares during the period. American Assets Investment Management LLC’s holdings in Toronto-Dominion Bank were worth $10,438,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Triad Wealth Partners LLC purchased a new stake in shares of Toronto-Dominion Bank during the 2nd quarter valued at about $31,000. Blue Trust Inc. grew its position in Toronto-Dominion Bank by 50.7% during the second quarter. Blue Trust Inc. now owns 630 shares of the bank’s stock valued at $38,000 after buying an additional 212 shares during the period. Kimelman & Baird LLC purchased a new stake in Toronto-Dominion Bank during the second quarter valued at approximately $49,000. BOKF NA raised its position in Toronto-Dominion Bank by 203.6% in the first quarter. BOKF NA now owns 1,014 shares of the bank’s stock worth $61,000 after acquiring an additional 680 shares during the period. Finally, Eastern Bank purchased a new position in shares of Toronto-Dominion Bank during the 3rd quarter worth $66,000. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Toronto-Dominion Bank Price Performance

NYSE:TD traded down $0.67 on Tuesday, reaching $56.26. 282,622 shares of the company’s stock traded hands, compared to its average volume of 2,764,678. The stock has a 50-day simple moving average of $59.75 and a 200-day simple moving average of $57.81. The Toronto-Dominion Bank has a 12 month low of $53.52 and a 12 month high of $65.12. The firm has a market cap of $98.37 billion, a PE ratio of 18.19, a P/E/G ratio of 1.61 and a beta of 0.82. 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 earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $9.40 billion. During the same quarter last year, the company earned $1.48 EPS. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. Equities research analysts forecast that The Toronto-Dominion Bank will post 5.8 earnings per share for the current year.

Toronto-Dominion Bank Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were issued a $0.739 dividend. This represents a $2.96 annualized dividend and a dividend yield of 5.25%. The ex-dividend date of this dividend was Thursday, October 10th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 96.17%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Royal Bank of Canada lowered Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research note on Friday, October 11th. StockNews.com cut Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday, August 22nd. 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 analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.