Hillsdale Investment Management Inc. lessened its holdings in shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 11.0% in the second quarter, HoldingsChannel.com reports. The firm owned 557,615 shares of the bank’s stock after selling 68,900 shares during the period. Toronto-Dominion Bank comprises 3.2% of Hillsdale Investment Management Inc.’s holdings, making the stock its 2nd largest position. Hillsdale Investment Management Inc.’s holdings in Toronto-Dominion Bank were worth $32,552,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in TD. BlackRock Inc. grew its position in Toronto-Dominion Bank by 18.7% in the fourth quarter. BlackRock Inc. now owns 1,742 shares of the bank’s stock valued at $87,000 after purchasing an additional 275 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new position in Toronto-Dominion Bank in the first quarter valued at $273,000. Raymond James Trust N.A. grew its position in Toronto-Dominion Bank by 16.5% in the first quarter. Raymond James Trust N.A. now owns 6,536 shares of the bank’s stock valued at $355,000 after purchasing an additional 927 shares in the last quarter. FNY Investment Advisers LLC bought a new position in Toronto-Dominion Bank in the first quarter valued at $119,000. Finally, Telos Capital Management Inc. bought a new position in Toronto-Dominion Bank in the first quarter valued at $202,000. Institutional investors and hedge funds own 48.12% of the company’s stock.
A number of research firms recently weighed in on TD. Bank of America downgraded shares of Toronto-Dominion Bank from a “buy” rating to a “neutral” rating and decreased their target price for the company from $82.00 to $77.00 in a research report on Thursday. Barclays upgraded shares of Toronto-Dominion Bank from an “equal weight” rating to an “overweight” rating and set a $84.00 price target for the company in a research note on Tuesday, June 11th. National Bank Financial cut shares of Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research note on Thursday, May 23rd. BMO Capital Markets reiterated a “buy” rating on shares of Toronto-Dominion Bank in a research note on Friday, May 24th. Finally, Canaccord Genuity reiterated a “buy” rating on shares of Toronto-Dominion Bank in a research note on Thursday, May 23rd. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $74.67.
TD stock traded up $0.70 during trading hours on Friday, reaching $54.63. The stock had a trading volume of 1,755,300 shares, compared to its average volume of 1,105,116. The stock has a market capitalization of $99.88 billion, a PE ratio of 10.88, a price-to-earnings-growth ratio of 1.73 and a beta of 1.04. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a 50-day simple moving average of $57.92 and a 200 day simple moving average of $56.69. Toronto-Dominion Bank has a fifty-two week low of $47.73 and a fifty-two week high of $62.00.
Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings results on Thursday, May 23rd. The bank reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.50. The firm had revenue of $10.23 billion during the quarter, compared to analysts’ expectations of $9.46 billion. Toronto-Dominion Bank had a net margin of 20.24% and a return on equity of 16.21%. The company’s revenue for the quarter was up 8.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.62 earnings per share. On average, sell-side analysts forecast that Toronto-Dominion Bank will post 5.11 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Wednesday, July 10th were paid a $0.5511 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend was Tuesday, July 9th. Toronto-Dominion Bank’s dividend payout ratio is currently 44.93%.
Toronto-Dominion Bank Company Profile
The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. The company operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. It offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; financing options to customers at point of sale for automotive and recreational vehicle purchases through auto dealer network; credit cards; investing, advice-based, and asset management services to retail and institutional clients; and property and casualty insurance, as well as life and health insurance products.
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