Burkett Asset Management Ltd Invests $4.55 Million in Toronto Dominion Bank (The) $TD

Burkett Asset Management Ltd bought a new position in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 48,251 shares of the bank’s stock, valued at approximately $4,554,000. Toronto Dominion Bank comprises about 4.6% of Burkett Asset Management Ltd’s portfolio, making the stock its 7th largest holding.

Other hedge funds have also modified their holdings of the company. Harvest Fund Management Co. Ltd grew its position in shares of Toronto Dominion Bank by 112.8% during the fourth 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 purchased a new position in shares of Toronto Dominion Bank during the fourth quarter worth approximately $34,000. Cornerstone Planning Group LLC grew its position in shares of Toronto Dominion Bank by 177.9% during the fourth quarter. Cornerstone Planning Group LLC now owns 428 shares of the bank’s stock worth $40,000 after acquiring an additional 274 shares during the last quarter. Sound Income Strategies LLC grew its position in shares of Toronto Dominion Bank by 80.6% during the fourth quarter. Sound Income Strategies LLC now owns 466 shares of the bank’s stock worth $44,000 after acquiring an additional 208 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its position in shares of Toronto Dominion Bank by 660.9% during the second quarter. Smartleaf Asset Management LLC now owns 525 shares of the bank’s stock worth $38,000 after acquiring an additional 456 shares during the last quarter. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Toronto Dominion Bank Trading Up 1.6%

NYSE TD opened at $116.28 on Friday. The stock has a market capitalization of $192.14 billion, a P/E ratio of 18.14, a P/E/G ratio of 1.27 and a beta of 0.72. Toronto Dominion Bank has a 52-week low of $70.09 and a 52-week high of $116.45. The firm has a 50-day moving average price of $106.98 and a 200 day moving average price of $98.18. 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) (TSE:TD) last released its earnings results on Thursday, May 28th. The bank reported $1.74 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $11.80 billion during the quarter, compared to the consensus estimate of $11.04 billion. During the same quarter last year, the company earned $1.97 earnings per share. Toronto Dominion Bank’s quarterly revenue was down 31.1% compared to the same quarter last year. Equities research analysts expect that Toronto Dominion Bank will post 6.92 EPS for the current year.

Toronto Dominion Bank Increases Dividend

The firm also recently announced 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. This represents a $4.48 dividend on an annualized basis and a yield of 3.9%. This is an increase from Toronto Dominion Bank’s previous quarterly dividend of $1.08. The ex-dividend date of this dividend is Friday, July 10th. Toronto Dominion Bank’s dividend payout ratio is 48.52%.

Analyst Ratings Changes

TD has been the topic of a number of analyst reports. 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. Canadian Imperial Bank of Commerce lowered shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 12th. Zacks Research lowered shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Weiss Ratings lowered shares of Toronto Dominion Bank from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday, May 29th. Finally, Wall Street Zen cut shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Toronto Dominion Bank has a consensus rating of “Moderate Buy” and an average price target of $156.00.

Toronto Dominion Bank Company 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.