Burkett Asset Management Ltd Buys Shares of 48,251 Toronto Dominion Bank (The) $TD

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

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Main Line Retirement Advisors LLC lifted its stake in shares of Toronto Dominion Bank by 0.9% in the 4th quarter. Main Line Retirement Advisors LLC now owns 12,152 shares of the bank’s stock valued at $1,145,000 after purchasing an additional 109 shares in the last quarter. Rosenberg Matthew Hamilton lifted its stake in shares of Toronto Dominion Bank by 8.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 1,489 shares of the bank’s stock valued at $140,000 after purchasing an additional 118 shares in the last quarter. Richardson Financial Services Inc. lifted its stake in shares of Toronto Dominion Bank by 12.4% in the 4th quarter. Richardson Financial Services Inc. now owns 1,104 shares of the bank’s stock valued at $104,000 after purchasing an additional 122 shares in the last quarter. Commons Capital LLC lifted its stake in shares of Toronto Dominion Bank by 0.7% in the 3rd quarter. Commons Capital LLC now owns 18,251 shares of the bank’s stock valued at $1,459,000 after purchasing an additional 134 shares in the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake in shares of Toronto Dominion Bank by 4.8% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 2,912 shares of the bank’s stock valued at $233,000 after purchasing an additional 134 shares in the last quarter. Institutional investors and hedge funds own 52.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on TD. Wall Street Zen lowered Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. 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. Raymond James Financial raised Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 12th. Finally, Royal Bank Of Canada boosted their price target on Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $156.00.

Toronto Dominion Bank Stock Performance

TD stock opened at $116.28 on Friday. 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 firm has a market cap 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 12-month low of $70.09 and a 12-month high of $116.45. The stock’s 50 day simple moving average is $106.98 and its 200 day simple moving average is $98.18.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.11. The business had revenue of $11.80 billion for 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 period in the prior year, the company posted $1.97 EPS. As a group, equities research analysts predict that Toronto Dominion Bank will post 6.92 EPS for the current year.

Toronto Dominion Bank Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 10th will be given a dividend of $1.12 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a $4.48 annualized dividend and a dividend yield of 3.9%. This is an increase from Toronto Dominion Bank’s previous quarterly dividend of $1.08. Toronto Dominion Bank’s dividend payout ratio 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.