Toronto Dominion Bank (The) $TD Shares Sold by Westerkirk Capital Inc.

Key Points

• Westerkirk Capital sharply cut its Toronto Dominion Bank stake by 93.6% in the fourth quarter, selling 67,700 shares and leaving it with 4,649 shares worth about $438,000.
• TD recently posted better-than-expected quarterly results, with EPS of $1.74 versus the $1.63 consensus and revenue of $11.80 billion, while analysts currently rate the stock a Moderate Buy with an average price target of $156.
• The bank also raised its quarterly dividend to $1.12 per share from $1.08, implying an annualized yield of about 3.9%.

Westerkirk Capital Inc. reduced its position in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 93.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,649 shares of the bank's stock after selling 67,700 shares during the period. Westerkirk Capital Inc.'s holdings in Toronto Dominion Bank were worth $438,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of TD. Harvest Fund Management Co. Ltd boosted its stake 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 purchasing an additional 168 shares during the last quarter. CBIZ Investment Advisory Services LLC acquired a new stake in shares of Toronto Dominion Bank during the 4th quarter worth about $34,000. Smartleaf Asset Management LLC increased its stake in shares of Toronto Dominion Bank by 660.9% during the 2nd quarter. Smartleaf Asset Management LLC now owns 525 shares of the bank's stock valued at $38,000 after acquiring an additional 456 shares during the last quarter. Cornerstone Planning Group LLC increased its stake in shares of Toronto Dominion Bank by 177.9% during 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 last quarter. Finally, Sound Income Strategies LLC increased its stake in shares of Toronto Dominion Bank by 80.6% during 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 last quarter. 52.37% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TD has been the subject of a number of research analyst reports. Raymond James Financial raised shares of Toronto Dominion Bank from a "market perform" rating to an "outperform" rating in a research note on Tuesday, May 12th. Zacks Research downgraded shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. Weiss Ratings downgraded shares of Toronto Dominion Bank from a "buy (a-)" rating to a "buy (b+)" rating in a research note on Friday, May 29th. Wall Street Zen downgraded shares of Toronto Dominion Bank from a "hold" rating to a "sell" rating in a research note on Saturday, May 23rd. Finally, Canadian Imperial Bank of Commerce downgraded shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, Toronto Dominion Bank currently has a consensus rating of "Moderate Buy" and an average price target of $156.00.

Toronto Dominion Bank Stock Up 0.4%

NYSE TD opened at $114.66 on Wednesday. The stock has a market cap of $189.47 billion, a PE ratio of 17.89, a P/E/G ratio of 1.26 and a beta of 0.72. Toronto Dominion Bank has a fifty-two week low of $70.00 and a fifty-two week high of $115.40. The business has a 50 day moving average price of $106.06 and a two-hundred day moving average price of $97.71. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last released its quarterly earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share for the quarter, topping analysts' consensus estimates of $1.63 by $0.11. The firm had revenue of $11.80 billion during the quarter, compared to analysts' expectations of $11.04 billion. Toronto Dominion Bank had a return on equity of 14.83% and a net margin of 13.20%.Toronto Dominion Bank's quarterly revenue was down 31.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.97 EPS. As a group, sell-side analysts predict that Toronto Dominion Bank will post 6.92 EPS for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 10th will be issued a $1.12 dividend. The ex-dividend date is Friday, July 10th. This represents a $4.48 dividend on an annualized basis and a yield of 3.9%. This is a boost from Toronto Dominion Bank's previous quarterly dividend of $1.08. Toronto Dominion Bank's dividend payout ratio (DPR) is currently 48.52%.

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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