Bard Financial Services Inc. Sells 6,625 Shares of Toronto Dominion Bank (The) $TD

Key Points

• Bard Financial Services Inc. reduced its holdings in Toronto Dominion Bank by 32.2%, selling 6,625 shares during the second quarter, leaving them with 13,920 shares valued at approximately $1,022,000.
• The bank recently declared a quarterly dividend of $1.05 per share, reflecting an increase from the previous $0.76, resulting in an annualized yield of 5.5%.
• Toronto Dominion Bank's latest earnings report showed $1.91 earnings per share, surpassing estimates, while revenue lags with $10.12 billion reported against expectations of $13.73 billion.

Bard Financial Services Inc. lessened its holdings in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 32.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,920 shares of the bank's stock after selling 6,625 shares during the period. Bard Financial Services Inc.'s holdings in Toronto Dominion Bank were worth $1,022,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Oppenheimer & Co. Inc. increased its position in Toronto Dominion Bank by 144.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 11,532 shares of the bank's stock worth $691,000 after purchasing an additional 6,818 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Toronto Dominion Bank by 41.9% in the 1st quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 4,407,273 shares of the bank's stock worth $264,134,000 after purchasing an additional 1,302,281 shares in the last quarter. Bank of New York Mellon Corp raised its position in Toronto Dominion Bank by 7.0% in the first quarter. Bank of New York Mellon Corp now owns 1,606,446 shares of the bank's stock valued at $96,290,000 after purchasing an additional 104,864 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Toronto Dominion Bank by 38.6% during the first quarter. JPMorgan Chase & Co. now owns 9,994,402 shares of the bank's stock valued at $599,064,000 after purchasing an additional 2,780,984 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Toronto Dominion Bank by 1.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 12,396,341 shares of the bank's stock worth $743,037,000 after purchasing an additional 181,781 shares during the last quarter. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Toronto Dominion Bank Trading Down 0.0%

Shares of TD stock opened at $76.79 on Monday. Toronto Dominion Bank has a fifty-two week low of $51.25 and a fifty-two week high of $78.95. 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 $74.21 and a two-hundred day simple moving average of $67.68. The company has a market cap of $131.17 billion, a P/E ratio of 8.97, a PEG ratio of 1.66 and a beta of 0.81.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last released its quarterly earnings data on Thursday, August 28th. The bank reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.46 by $0.45. The company 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 revenue for the quarter was up 7.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.05 EPS. Research analysts forecast that Toronto Dominion Bank will post 5.48 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 10th will be issued a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 5.5%. This is an increase from Toronto Dominion Bank's previous quarterly dividend of $0.76. The ex-dividend date is Friday, October 10th. Toronto Dominion Bank's dividend payout ratio is currently 36.10%.

Wall Street Analyst Weigh In

Several research firms recently commented on TD. Wall Street Zen upgraded shares of Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research report on Saturday, May 24th. Royal Bank Of Canada lifted their price target on shares of Toronto Dominion Bank from $87.00 to $93.00 and gave the stock a "sector perform" rating in a report on Friday, May 23rd. 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. Finally, Desjardins raised Toronto Dominion Bank from a "hold" rating to a "buy" rating in a research report on Wednesday, August 13th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $93.00.

Toronto Dominion Bank 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.

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