The Toronto-Dominion Bank (NYSE:TD) Shares Acquired by Hennessy Advisors Inc.

Hennessy Advisors Inc. grew its stake in The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD by 16.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 95,200 shares of the bank's stock after buying an additional 13,300 shares during the period. Hennessy Advisors Inc.'s holdings in Toronto-Dominion Bank were worth $5,706,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Asahi Life Asset Management CO. LTD. purchased a new position in shares of Toronto-Dominion Bank in the fourth quarter worth $416,000. Vanguard Group Inc. raised its holdings in shares of Toronto-Dominion Bank by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 74,118,551 shares of the bank's stock worth $3,946,072,000 after buying an additional 1,415,934 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Toronto-Dominion Bank by 3.4% in the fourth quarter. JPMorgan Chase & Co. now owns 7,213,418 shares of the bank's stock worth $384,042,000 after buying an additional 236,037 shares during the last quarter. Nicola Wealth Management LTD. raised its holdings in shares of Toronto-Dominion Bank by 15.5% in the fourth quarter. Nicola Wealth Management LTD. now owns 510,002 shares of the bank's stock worth $27,153,000 after buying an additional 68,400 shares during the last quarter. Finally, Te Ahumairangi Investment Management Ltd raised its holdings in shares of Toronto-Dominion Bank by 21.2% in the fourth quarter. Te Ahumairangi Investment Management Ltd now owns 63,581 shares of the bank's stock worth $3,383,000 after buying an additional 11,100 shares during the last quarter. Hedge funds and other institutional investors own 52.37% of the company's stock.

Toronto-Dominion Bank Stock Performance

TD traded up $0.02 on Friday, reaching $70.80. The stock had a trading volume of 1,912,550 shares, compared to its average volume of 2,341,365. The Toronto-Dominion Bank has a 12-month low of $51.25 and a 12-month high of $71.05. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.11. The business's 50-day moving average price is $64.46 and its two-hundred day moving average price is $59.53. The company has a market cap of $121.97 billion, a P/E ratio of 20.40, a price-to-earnings-growth ratio of 1.95 and a beta of 0.82.

Toronto-Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last released its quarterly earnings data on Thursday, May 22nd. The bank reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $13.36 billion. During the same quarter in the previous year, the company earned $2.04 earnings per share. Sell-side analysts forecast that The Toronto-Dominion Bank will post 5.48 earnings per share for the current year.

Toronto-Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 10th will be issued a $0.7568 dividend. This is a boost from Toronto-Dominion Bank's previous quarterly dividend of $0.73. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $3.03 dividend on an annualized basis and a yield of 4.28%. Toronto-Dominion Bank's payout ratio is presently 44.72%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Royal Bank of Canada raised 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. Jefferies Financial Group cut shares of Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a report on Tuesday, February 18th. Scotiabank initiated coverage on shares of Toronto-Dominion Bank in a report on Thursday, May 15th. They set a "sector perform" rating for the company. Finally, Wall Street Zen raised shares of Toronto-Dominion Bank from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently 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.