Hanson & Doremus Investment Management Grows Stock Holdings in Toronto Dominion Bank (The) $TD

Hanson & Doremus Investment Management grew its position in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 155.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,356 shares of the bank’s stock after purchasing an additional 10,564 shares during the period. Hanson & Doremus Investment Management’s holdings in Toronto Dominion Bank were worth $1,619,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bayban purchased a new position in shares of Toronto Dominion Bank during the 4th quarter valued at about $28,000. Harvest Fund Management Co. Ltd boosted its stake in Toronto Dominion Bank by 112.8% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 317 shares of the bank’s stock worth $30,000 after buying an additional 168 shares in the last quarter. CBIZ Investment Advisory Services LLC bought a new position in Toronto Dominion Bank during the fourth quarter valued at approximately $34,000. Cornerstone Planning Group LLC raised its stake 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 in the last quarter. Finally, Sound Income Strategies LLC lifted its holdings in shares of Toronto Dominion Bank by 80.6% in the 4th 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. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Toronto Dominion Bank Trading Up 0.3%

NYSE:TD opened at $119.60 on Tuesday. The company has a 50-day moving average price of $110.03 and a 200-day moving average price of $99.91. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09. The stock has a market cap of $197.63 billion, a price-to-earnings ratio of 18.66, a P/E/G ratio of 1.32 and a beta of 0.72. Toronto Dominion Bank has a 12 month low of $70.50 and a 12 month high of $120.27.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.11. The firm had revenue of $11.80 billion during the quarter, compared to analyst estimates of $11.04 billion. Toronto Dominion Bank had a return on equity of 14.83% and a net margin of 13.20%.The business’s revenue was down 31.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.97 EPS. Equities analysts predict that Toronto Dominion Bank will post 6.92 EPS for the current year.

Toronto Dominion Bank Increases Dividend

The firm also recently disclosed 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 3.7%. This is a boost from Toronto Dominion Bank’s previous quarterly dividend of $1.08. The ex-dividend date is Friday, July 10th. Toronto Dominion Bank’s dividend payout ratio is currently 48.52%.

Analysts Set New Price Targets

TD has been the subject of a number of research 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. Royal Bank Of Canada lifted their price objective on Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an “outperform” rating in a report on Monday, June 1st. Scotiabank raised Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, May 4th. Weiss Ratings cut Toronto Dominion Bank from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, June 11th. Finally, Zacks Research lowered Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Toronto Dominion Bank presently has an average rating of “Moderate Buy” and an average target price of $156.00.

About Toronto Dominion Bank

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.