Bard Financial Services Inc. Sells 595 Shares of The Toronto-Dominion Bank (NYSE:TD)

Bard Financial Services Inc. cut its holdings in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 2.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,545 shares of the bank’s stock after selling 595 shares during the period. Bard Financial Services Inc.’s holdings in Toronto-Dominion Bank were worth $1,231,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Toronto-Dominion Bank by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 74,118,551 shares of the bank’s stock worth $3,946,072,000 after acquiring an additional 1,415,934 shares in the last quarter. FIL Ltd grew its position in Toronto-Dominion Bank by 17.3% in the 4th quarter. FIL Ltd now owns 38,989,749 shares of the bank’s stock worth $2,075,819,000 after purchasing an additional 5,756,584 shares in the last quarter. Mackenzie Financial Corp grew its position in Toronto-Dominion Bank by 5.6% in the 4th quarter. Mackenzie Financial Corp now owns 27,990,674 shares of the bank’s stock worth $1,488,233,000 after purchasing an additional 1,491,472 shares in the last quarter. Norges Bank bought a new stake in Toronto-Dominion Bank in the 4th quarter worth about $992,204,000. Finally, Beutel Goodman & Co Ltd. grew its position in Toronto-Dominion Bank by 3.8% in the 4th quarter. Beutel Goodman & Co Ltd. now owns 16,803,807 shares of the bank’s stock worth $894,169,000 after purchasing an additional 622,736 shares in the last quarter. 52.37% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on TD. Scotiabank began coverage on shares of Toronto-Dominion Bank in a research report on Thursday, May 15th. They issued a “sector perform” rating for the company. Royal Bank of Canada upped their price objective on shares of Toronto-Dominion Bank from $87.00 to $93.00 and gave the stock a “sector perform” rating in a research report on Friday, May 23rd. Jefferies Financial Group downgraded shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Finally, Wall Street Zen raised shares of Toronto-Dominion Bank from a “sell” rating to a “hold” rating in a research report on Saturday, May 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Toronto-Dominion Bank presently has a consensus rating of “Hold” and an average price target of $93.00.

Toronto-Dominion Bank Stock Up 0.9%

Toronto-Dominion Bank stock opened at $70.73 on Wednesday. The Toronto-Dominion Bank has a twelve month low of $51.25 and a twelve month high of $70.76. The firm has a 50 day moving average price of $63.59 and a 200-day moving average price of $59.23. The company has a market capitalization of $121.84 billion, a P/E ratio of 20.38, a P/E/G ratio of 1.95 and a beta of 0.82. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.11.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its earnings results on Thursday, May 22nd. The bank reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.14. Toronto-Dominion Bank had a net margin of 7.37% and a return on equity of 13.96%. The firm had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $13.36 billion. During the same period in the prior year, the firm earned $2.04 EPS. As a group, equities analysts predict that The Toronto-Dominion Bank will post 5.48 EPS for the current year.

Toronto-Dominion Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 10th will be issued a $0.7568 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $0.73. This represents a $3.03 annualized dividend and a yield of 4.28%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is 44.72%.

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.