Welch & Forbes LLC reduced its stake in Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 0.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 372,628 shares of the bank’s stock after selling 1,217 shares during the period. Welch & Forbes LLC’s holdings in Toronto-Dominion Bank were worth $18,527,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of TD. Capital Investment Advisory Services LLC purchased a new stake in Toronto-Dominion Bank in the 4th quarter valued at about $27,000. Country Trust Bank purchased a new stake in Toronto-Dominion Bank in the 4th quarter valued at about $35,000. Patriot Financial Group Insurance Agency LLC raised its holdings in Toronto-Dominion Bank by 24.9% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 902 shares of the bank’s stock valued at $45,000 after buying an additional 180 shares during the period. Norway Savings Bank raised its holdings in Toronto-Dominion Bank by 34.5% in the 4th quarter. Norway Savings Bank now owns 1,479 shares of the bank’s stock valued at $74,000 after buying an additional 379 shares during the period. Finally, Flagship Harbor Advisors LLC raised its holdings in Toronto-Dominion Bank by 13.1% in the 4th quarter. Flagship Harbor Advisors LLC now owns 1,726 shares of the bank’s stock valued at $85,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 47.65% of the company’s stock.
A number of brokerages have issued reports on TD. Barclays reiterated a “hold” rating on shares of Toronto-Dominion Bank in a research note on Thursday, November 29th. Zacks Investment Research upgraded shares of Toronto-Dominion Bank from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Tuesday, January 15th. ValuEngine lowered shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, November 7th. Canaccord Genuity reiterated a “buy” rating on shares of Toronto-Dominion Bank in a research note on Friday, November 30th. Finally, Desjardins reiterated a “buy” rating on shares of Toronto-Dominion Bank in a research note on Monday, December 10th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $60.00.
Shares of Toronto-Dominion Bank stock traded down $0.23 on Monday, reaching $56.05. 53,631 shares of the company were exchanged, compared to its average volume of 1,337,494. Toronto-Dominion Bank has a 1-year low of $47.73 and a 1-year high of $62.00. The company has a market cap of $103.08 billion, a PE ratio of 11.13, a P/E/G ratio of 1.39 and a beta of 1.07. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.91 and a current ratio of 0.91.
Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings data on Thursday, November 29th. The bank reported $1.63 EPS for the quarter, topping the Zacks’ consensus estimate of $1.23 by $0.40. Toronto-Dominion Bank had a return on equity of 16.78% and a net margin of 21.27%. The business had revenue of $10.12 billion during the quarter, compared to the consensus estimate of $9.31 billion. During the same period in the previous year, the company posted $1.36 earnings per share. The business’s revenue for the quarter was up 9.2% on a year-over-year basis. On average, sell-side analysts predict that Toronto-Dominion Bank will post 5.28 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 31st. Stockholders of record on Thursday, January 10th were given a dividend of $0.509 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date was Wednesday, January 9th. Toronto-Dominion Bank’s dividend payout ratio is presently 39.17%.
Toronto-Dominion Bank 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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