TD Waterhouse Canada Inc. Cuts Stake in Toronto Dominion Bank
TD Waterhouse Canada Inc., a significant shareholder of Toronto Dominion Bank (The) ($TD), recently reduced its stake in the bank's stock. According to a recent SEC filing, TD Waterhouse Canada Inc. sold 391,382 shares during the second quarter, reducing its total holdings by 1.9%. The institutional investor now owns approximately 20,259,577 shares of Toronto Dominion Bank, which comprises about 6.6% of its overall holdings.
The bank's quarterly earnings data was released on August 27th, showing a $1.98 EPS and beating analysts' consensus estimates by $0.24. The company also declared a quarterly dividend, to be paid on October 31st, with an ex-dividend date of October 9th.
A number of research firms have issued reports on TD, with some upgrading their ratings or target prices. For example, Wall Street Zen raised the bank from a 'sell' rating to a 'hold' rating in August, while Royal Bank Of Canada increased its target price from $138.00 to $156.00 and gave an 'outperform' rating.