Westerkirk Capital Inc. Trims Holdings in Toronto Dominion Bank (The) $TD

Westerkirk Capital Inc. reduced its holdings in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 93.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,649 shares of the bank’s stock after selling 67,700 shares during the quarter. Westerkirk Capital Inc.’s holdings in Toronto Dominion Bank were worth $438,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TD. LPL Financial LLC raised its position in shares of Toronto Dominion Bank by 12.3% during the 4th quarter. LPL Financial LLC now owns 222,059 shares of the bank’s stock valued at $20,918,000 after acquiring an additional 24,277 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Toronto Dominion Bank by 11.4% during the 4th quarter. Franklin Resources Inc. now owns 952,985 shares of the bank’s stock valued at $89,818,000 after acquiring an additional 97,211 shares in the last quarter. Erste Asset Management GmbH raised its position in shares of Toronto Dominion Bank by 16.2% during the 4th quarter. Erste Asset Management GmbH now owns 285,773 shares of the bank’s stock valued at $26,985,000 after acquiring an additional 39,762 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in shares of Toronto Dominion Bank by 5.9% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 385,620 shares of the bank’s stock valued at $36,340,000 after acquiring an additional 21,340 shares in the last quarter. Finally, Manchester Capital Management LLC acquired a new stake in shares of Toronto Dominion Bank during the 4th quarter valued at approximately $106,000. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently issued reports on TD. Weiss Ratings lowered Toronto Dominion Bank from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday, May 29th. Canadian Imperial Bank of Commerce lowered Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 12th. Scotiabank raised Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, May 4th. Zacks Research lowered Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Finally, Raymond James Financial raised Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 12th. 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $156.00.

Toronto Dominion Bank Trading Up 0.4%

NYSE:TD opened at $114.66 on Wednesday. Toronto Dominion Bank has a 1 year low of $70.00 and a 1 year high of $115.40. The stock has a market cap of $189.47 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 1.26 and a beta of 0.72. The business has a fifty day moving average of $106.06 and a 200-day moving average of $97.71. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly 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. 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 analysts’ expectations of $11.04 billion. During the same quarter in the prior year, the business posted $1.97 earnings per share. The company’s revenue for the quarter was down 31.1% compared to the same quarter last year. Equities analysts predict that Toronto Dominion Bank will post 6.92 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 10th will be paid a $1.12 dividend. The ex-dividend date of this dividend is Friday, July 10th. This is a positive change from Toronto Dominion Bank’s previous quarterly dividend of $1.08. This represents a $4.48 annualized dividend and a dividend yield of 3.9%. Toronto Dominion Bank’s dividend payout ratio (DPR) is currently 48.52%.

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.