Baskin Financial Services Inc. Trims Position in Toronto Dominion Bank (The) $TD

Baskin Financial Services Inc. cut its position in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 12.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,399 shares of the bank’s stock after selling 788 shares during the period. Baskin Financial Services Inc.’s holdings in Toronto Dominion Bank were worth $397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of TD. Park Avenue Securities LLC purchased a new stake in shares of Toronto Dominion Bank in the first quarter worth $915,000. Farther Finance Advisors LLC grew its stake in Toronto Dominion Bank by 42.6% during the first quarter. Farther Finance Advisors LLC now owns 2,819 shares of the bank’s stock valued at $167,000 after acquiring an additional 842 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Toronto Dominion Bank by 1.2% during the first quarter. Assenagon Asset Management S.A. now owns 57,834 shares of the bank’s stock valued at $3,465,000 after acquiring an additional 672 shares in the last quarter. Donaldson Capital Management LLC grew its stake in Toronto Dominion Bank by 14.3% during the first quarter. Donaldson Capital Management LLC now owns 14,478 shares of the bank’s stock valued at $868,000 after acquiring an additional 1,813 shares in the last quarter. Finally, NewGen Asset Management Ltd purchased a new position in Toronto Dominion Bank during the first quarter valued at $3,548,000. 52.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on TD. Desjardins raised shares of Toronto Dominion Bank from a “hold” rating to a “buy” rating in a research note on Wednesday, August 13th. Royal Bank Of Canada raised shares of Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research note on Friday, October 3rd. Zacks Research cut shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. Wall Street Zen cut shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research note on Friday, September 26th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Toronto Dominion Bank in a research note on Wednesday. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $93.00.

Toronto Dominion Bank Price Performance

TD stock opened at $79.89 on Friday. Toronto Dominion Bank has a 52 week low of $51.25 and a 52 week high of $82.08. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.09. The company has a fifty day simple moving average of $76.23 and a two-hundred day simple moving average of $70.20. The firm has a market capitalization of $135.87 billion, a P/E ratio of 9.33, a price-to-earnings-growth ratio of 1.65 and a beta of 0.80.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings data on Thursday, August 28th. The bank reported $1.91 EPS for the quarter, beating the consensus estimate of $1.46 by $0.45. The business had revenue of $10.12 billion during the quarter, compared to analyst estimates of $13.73 billion. Toronto Dominion Bank had a net margin of 16.40% and a return on equity of 13.59%. Toronto Dominion Bank’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the business earned $2.05 earnings per share. Analysts anticipate that Toronto Dominion Bank will post 5.48 earnings per share for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 10th will be issued a $1.05 dividend. This is a boost from Toronto Dominion Bank’s previous quarterly dividend of $0.76. The ex-dividend date is Friday, October 10th. This represents a $4.20 annualized dividend and a dividend yield of 5.3%. Toronto Dominion Bank’s dividend payout ratio (DPR) is 36.10%.

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.