Hanson & Doremus Investment Management Cuts Stake in Toronto Dominion Bank (The) $TD

Hanson & Doremus Investment Management trimmed its holdings in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 60.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,027 shares of the bank’s stock after selling 10,634 shares during the quarter. Hanson & Doremus Investment Management’s holdings in Toronto Dominion Bank were worth $516,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Balanced Rock Investment Advisors LLC increased its position in shares of Toronto Dominion Bank by 1.1% during the first quarter. Balanced Rock Investment Advisors LLC now owns 14,983 shares of the bank’s stock worth $898,000 after acquiring an additional 163 shares during the last quarter. Wright Investors Service Inc. increased its position in shares of Toronto Dominion Bank by 3.1% during the second quarter. Wright Investors Service Inc. now owns 5,827 shares of the bank’s stock worth $428,000 after acquiring an additional 173 shares during the last quarter. MFA Wealth Services increased its position in shares of Toronto Dominion Bank by 4.5% during the first quarter. MFA Wealth Services now owns 4,179 shares of the bank’s stock worth $250,000 after acquiring an additional 179 shares during the last quarter. Intrua Financial LLC increased its position in shares of Toronto Dominion Bank by 2.4% during the first quarter. Intrua Financial LLC now owns 7,812 shares of the bank’s stock worth $468,000 after acquiring an additional 183 shares during the last quarter. Finally, Hexagon Capital Partners LLC increased its position in shares of Toronto Dominion Bank by 14.5% during the first quarter. Hexagon Capital Partners LLC now owns 1,500 shares of the bank’s stock worth $90,000 after acquiring an additional 190 shares during the last quarter. 52.37% of the stock is owned by hedge funds and other institutional investors.

Toronto Dominion Bank Stock Up 0.5%

NYSE:TD opened at $79.20 on Monday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a 50-day simple moving average of $75.14 and a 200 day simple moving average of $69.05. Toronto Dominion Bank has a one year low of $51.25 and a one year high of $79.49. The company has a market capitalization of $134.70 billion, a price-to-earnings ratio of 9.25, a price-to-earnings-growth ratio of 1.70 and a beta of 0.81.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last issued its earnings results on Thursday, August 28th. The bank reported $1.91 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.45. Toronto Dominion Bank had a return on equity of 13.59% and a net margin of 16.40%.The company had revenue of $10.12 billion during the quarter, compared to the consensus estimate of $13.73 billion. During the same period in the previous year, the firm posted $2.05 earnings per share. Toronto Dominion Bank’s quarterly revenue was up 7.9% compared to the same quarter last year. Sell-side analysts predict that Toronto Dominion Bank will post 5.48 EPS for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 10th will be paid a $1.05 dividend. The ex-dividend date is Friday, October 10th. This is an increase from Toronto Dominion Bank’s previous quarterly dividend of $0.76. This represents a $4.20 dividend on an annualized basis and a yield of 5.3%. Toronto Dominion Bank’s payout ratio is presently 36.10%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Wall Street Zen lowered Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research report on Friday. Desjardins upgraded Toronto Dominion Bank from a “hold” rating to a “buy” rating in a research note on Wednesday, August 13th. Finally, Zacks Research downgraded Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $93.00.

Toronto Dominion Bank Company 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.