Van ECK Associates Corp Reduces Holdings in The Toronto-Dominion Bank (NYSE:TD)

Van ECK Associates Corp lowered its position in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 13.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 225,581 shares of the bank’s stock after selling 35,189 shares during the quarter. Van ECK Associates Corp’s holdings in Toronto-Dominion Bank were worth $14,584,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TD. Valeo Financial Advisors LLC raised its holdings in Toronto-Dominion Bank by 6.8% during the 3rd quarter. Valeo Financial Advisors LLC now owns 3,821 shares of the bank’s stock valued at $230,000 after acquiring an additional 243 shares during the period. Commonwealth Equity Services LLC grew its holdings in Toronto-Dominion Bank by 2.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 128,853 shares of the bank’s stock valued at $7,765,000 after buying an additional 3,179 shares in the last quarter. Hexagon Capital Partners LLC grew its holdings in Toronto-Dominion Bank by 52.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 988 shares of the bank’s stock valued at $60,000 after buying an additional 340 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Toronto-Dominion Bank by 1.9% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 56,810 shares of the bank’s stock valued at $3,423,000 after buying an additional 1,053 shares during the period. Finally, Mission Wealth Management LP purchased a new stake in shares of Toronto-Dominion Bank in the third quarter worth about $237,000. 52.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on TD shares. Jefferies Financial Group assumed coverage on shares of Toronto-Dominion Bank in a research note on Thursday, February 22nd. They set a “hold” rating for the company. Barclays initiated coverage on shares of Toronto-Dominion Bank in a research report on Wednesday, March 20th. They set an “equal weight” rating for the company. Finally, Scotiabank upgraded Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, April 17th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $89.33.

Toronto-Dominion Bank Price Performance

TD stock opened at $58.69 on Thursday. The firm has a 50 day simple moving average of $59.31 and a two-hundred day simple moving average of $60.08. The stock has a market cap of $103.47 billion, a PE ratio of 12.54, a P/E/G ratio of 1.83 and a beta of 0.85. The Toronto-Dominion Bank has a one year low of $54.69 and a one year high of $66.15. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.99 and a quick ratio of 0.99.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its earnings results on Thursday, February 29th. The bank reported $1.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.05. The company had revenue of $10.07 billion during the quarter, compared to analyst estimates of $9.35 billion. Toronto-Dominion Bank had a net margin of 11.16% and a return on equity of 14.15%. On average, analysts predict that The Toronto-Dominion Bank will post 5.85 EPS for the current fiscal year.

Toronto-Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Tuesday, April 9th were given a dividend of $0.7519 per share. The ex-dividend date was Monday, April 8th. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.75. This represents a $3.01 annualized dividend and a dividend yield of 5.12%. Toronto-Dominion Bank’s dividend payout ratio is 30.56%.

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.