Avanza Fonder AB Trims Holdings in The Toronto-Dominion Bank (NYSE:TD)

Avanza Fonder AB lessened its stake in shares of The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD by 5.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 114,513 shares of the bank's stock after selling 6,000 shares during the quarter. Avanza Fonder AB's holdings in Toronto-Dominion Bank were worth $6,864,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Lee Danner & Bass Inc. acquired a new position in Toronto-Dominion Bank during the fourth quarter worth approximately $27,000. Financial Management Professionals Inc. raised its stake in shares of Toronto-Dominion Bank by 322.4% during the first quarter. Financial Management Professionals Inc. now owns 490 shares of the bank's stock worth $29,000 after purchasing an additional 374 shares during the last quarter. Bank of Jackson Hole Trust purchased a new position in Toronto-Dominion Bank in the 4th quarter valued at $32,000. CoreCap Advisors LLC increased its stake in Toronto-Dominion Bank by 57.5% in the 4th quarter. CoreCap Advisors LLC now owns 630 shares of the bank's stock valued at $34,000 after buying an additional 230 shares during the period. Finally, Murphy & Mullick Capital Management Corp purchased a new position in Toronto-Dominion Bank during the 4th quarter worth $39,000. Hedge funds and other institutional investors own 52.37% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Jefferies Financial Group downgraded shares of Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a report on Tuesday, February 18th. Royal Bank of Canada increased their target price on Toronto-Dominion Bank from $87.00 to $93.00 and gave the stock a "sector perform" rating in a research note on Friday, May 23rd. Wall Street Zen upgraded Toronto-Dominion Bank from a "sell" rating to a "hold" rating in a research note on Saturday, May 24th. Finally, Scotiabank began coverage on Toronto-Dominion Bank in a research report on Thursday, May 15th. They issued a "sector perform" rating for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $93.00.

Toronto-Dominion Bank Price Performance

NYSE TD traded down $0.48 during trading hours on Wednesday, reaching $70.26. The company's stock had a trading volume of 1,875,032 shares, compared to its average volume of 2,346,688. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.03 and a current ratio of 1.03. The company's 50-day moving average is $63.59 and its two-hundred day moving average is $59.23. The Toronto-Dominion Bank has a fifty-two week low of $51.25 and a fifty-two week high of $70.94. The stock has a market cap of $121.03 billion, a PE ratio of 20.25, a PEG ratio of 1.95 and a beta of 0.82.

Toronto-Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last announced its quarterly earnings results on Thursday, May 22nd. The bank reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $13.36 billion. During the same quarter in the prior year, the firm earned $2.04 earnings per share. Analysts forecast that The Toronto-Dominion Bank will post 5.48 EPS for the current year.

Toronto-Dominion Bank Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 10th will be issued a dividend of $0.7568 per share. This represents a $3.03 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date of this dividend is Thursday, July 10th. This is a boost from Toronto-Dominion Bank's previous quarterly dividend of $0.73. Toronto-Dominion Bank's dividend payout ratio 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.