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

Hanson & Doremus Investment Management boosted its holdings in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 155.5% in the first quarter, Holdings Channel.com reports. The institutional investor owned 17,356 shares of the bank’s stock after acquiring an additional 10,564 shares during the period. Hanson & Doremus Investment Management’s holdings in Toronto Dominion Bank were worth $1,619,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of TD. Vanguard Group Inc. boosted its holdings in shares of Toronto Dominion Bank by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 77,252,688 shares of the bank’s stock worth $7,280,911,000 after buying an additional 765,107 shares during the last quarter. TD Asset Management Inc increased its stake in Toronto Dominion Bank by 0.7% in the 3rd quarter. TD Asset Management Inc now owns 37,612,007 shares of the bank’s stock worth $3,008,096,000 after buying an additional 246,999 shares in the last quarter. Norges Bank bought a new stake in Toronto Dominion Bank during the fourth quarter valued at about $2,125,963,000. Canerector Inc. raised its holdings in Toronto Dominion Bank by 11,028.0% during the third quarter. Canerector Inc. now owns 22,256,000 shares of the bank’s stock valued at $1,779,367,000 after acquiring an additional 22,056,000 shares during the period. Finally, Bank of Nova Scotia lifted its position in shares of Toronto Dominion Bank by 6.8% in the fourth quarter. Bank of Nova Scotia now owns 19,486,741 shares of the bank’s stock valued at $1,836,518,000 after acquiring an additional 1,234,510 shares in the last quarter. 52.37% of the stock is owned by institutional investors.

Toronto Dominion Bank Stock Up 0.3%

NYSE TD opened at $119.60 on Tuesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $197.63 billion, a P/E ratio of 18.66, a P/E/G ratio of 1.32 and a beta of 0.72. Toronto Dominion Bank has a one year low of $70.50 and a one year high of $120.27. The stock has a 50 day moving average price of $110.03 and a 200-day moving average price of $99.91.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.11. The company had revenue of $11.80 billion for the quarter, compared to analysts’ expectations of $11.04 billion. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. Toronto Dominion Bank’s quarterly revenue was down 31.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.97 earnings per share. As a group, equities analysts predict that Toronto Dominion Bank will post 6.92 EPS for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 10th will be paid a $1.12 dividend. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, July 10th. This is an increase from Toronto Dominion Bank’s previous quarterly dividend of $1.08. Toronto Dominion Bank’s dividend payout ratio is 48.52%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wall Street Zen cut Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. Weiss Ratings cut shares of Toronto Dominion Bank from a “buy (b+)” rating to a “buy (b)” rating in a research note on Thursday, June 11th. Zacks Research downgraded shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Raymond James Financial upgraded Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 12th. Finally, Scotiabank raised Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Toronto Dominion Bank has an average rating of “Moderate Buy” and an average price target of $156.00.

Toronto Dominion Bank Profile

Toronto-Dominion Bank (TD) is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. Formed through the 1955 merger of the Bank of Toronto (founded 1855) and the Dominion Bank (founded 1869), TD is one of Canada’s largest banks and offers a broad range of financial products and services to individual, small business, commercial and institutional clients.

TD’s core businesses include Canadian and U.S. personal and commercial banking, wealth management, wholesale banking and insurance.