Godsey & Gibb Inc. Sells 18,597 Shares of Toronto Dominion Bank (The) $TD

Key Points

• Godsey & Gibb Inc. trimmed its Toronto Dominion Bank stake by 5.7% in the first quarter, selling 18,597 shares and leaving it with 306,209 shares worth about $28.6 million.
• Analyst sentiment remains mixed but constructive, with recent upgrades from Scotiabank and Raymond James offset by some downgrades. The stock currently carries a consensus Moderate Buy rating and a $156 average price target.
• TD reported better-than-expected quarterly earnings and raised its dividend to $1.12 per share from $1.08, implying an annualized yield of about 3.8%.

Godsey & Gibb Inc. lowered its position in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 5.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 306,209 shares of the bank's stock after selling 18,597 shares during the quarter. Toronto Dominion Bank accounts for 2.5% of Godsey & Gibb Inc.'s holdings, making the stock its 8th biggest position. Godsey & Gibb Inc.'s holdings in Toronto Dominion Bank were worth $28,572,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Bayban acquired a new stake in shares of Toronto Dominion Bank in the fourth quarter valued at approximately $28,000. Harvest Fund Management Co. Ltd increased its holdings in shares of Toronto Dominion Bank by 112.8% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 317 shares of the bank's stock worth $30,000 after acquiring an additional 168 shares during the last quarter. CBIZ Investment Advisory Services LLC acquired a new position in shares of Toronto Dominion Bank during the 4th quarter worth approximately $34,000. Cornerstone Planning Group LLC raised its stake in Toronto Dominion Bank by 177.9% in the 4th quarter. Cornerstone Planning Group LLC now owns 428 shares of the bank's stock valued at $40,000 after acquiring an additional 274 shares during the period. Finally, Sound Income Strategies LLC raised its stake in Toronto Dominion Bank by 80.6% in the 4th quarter. Sound Income Strategies LLC now owns 466 shares of the bank's stock valued at $44,000 after acquiring an additional 208 shares during the period. 52.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Toronto Dominion Bank Trading Down 0.1%

Shares of Toronto Dominion Bank stock opened at $119.44 on Wednesday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. Toronto Dominion Bank has a 52 week low of $71.30 and a 52 week high of $120.27. The stock has a 50 day moving average price of $110.41 and a two-hundred day moving average price of $100.16. The stock has a market capitalization of $197.37 billion, a PE ratio of 18.63, a price-to-earnings-growth ratio of 1.32 and a beta of 0.72.

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

Toronto Dominion Bank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 10th will be paid a dividend of $1.12 per share. This is a boost from Toronto Dominion Bank's previous quarterly dividend of $1.08. The ex-dividend date is Friday, July 10th. This represents a $4.48 dividend on an annualized basis and a yield of 3.8%. Toronto Dominion Bank's dividend payout ratio (DPR) is presently 50.55%.

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.

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