Welch & Forbes LLC Sells 35,666 Shares of The Toronto-Dominion Bank (NYSE:TD)

Welch & Forbes LLC trimmed its position in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 10.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 302,424 shares of the bank’s stock after selling 35,666 shares during the quarter. Welch & Forbes LLC’s holdings in Toronto-Dominion Bank were worth $19,543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Maryland State Retirement & Pension System boosted its holdings in shares of Toronto-Dominion Bank by 0.8% in the fourth quarter. Maryland State Retirement & Pension System now owns 62,939 shares of the bank’s stock worth $4,069,000 after buying an additional 523 shares during the last quarter. Private Advisor Group LLC boosted its stake in shares of Toronto-Dominion Bank by 22.1% during the 4th quarter. Private Advisor Group LLC now owns 22,667 shares of the bank’s stock worth $1,464,000 after acquiring an additional 4,106 shares during the last quarter. Metis Global Partners LLC raised its holdings in Toronto-Dominion Bank by 10.3% in the 4th quarter. Metis Global Partners LLC now owns 87,915 shares of the bank’s stock worth $5,681,000 after purchasing an additional 8,217 shares during the period. Connecticut Wealth Management LLC lifted its position in Toronto-Dominion Bank by 10.3% during the fourth quarter. Connecticut Wealth Management LLC now owns 3,980 shares of the bank’s stock valued at $257,000 after purchasing an additional 371 shares in the last quarter. Finally, AJOVista LLC bought a new stake in Toronto-Dominion Bank during the fourth quarter valued at about $1,176,000. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Toronto-Dominion Bank Price Performance

TD traded up $0.31 during trading on Monday, reaching $54.97. 5,678,866 shares of the company traded hands, compared to its average volume of 3,074,746. The Toronto-Dominion Bank has a 12-month low of $54.12 and a 12-month high of $66.15. The firm has a fifty day simple moving average of $59.06 and a 200 day simple moving average of $60.01. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market cap of $96.91 billion, a P/E ratio of 11.74, a PEG ratio of 1.71 and a beta of 0.85.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its earnings results on Thursday, February 29th. The bank reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.05. The company had revenue of $10.07 billion during the quarter, compared to analysts’ expectations of $9.35 billion. Toronto-Dominion Bank had a net margin of 11.16% and a return on equity of 14.15%. On average, equities analysts forecast that The Toronto-Dominion Bank will post 5.77 EPS for the current year.

Toronto-Dominion Bank Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Tuesday, April 9th were given a $0.7519 dividend. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $0.75. This represents a $3.01 dividend on an annualized basis and a dividend yield of 5.47%. The ex-dividend date of this dividend was Monday, April 8th. Toronto-Dominion Bank’s payout ratio is currently 64.32%.

Analyst Upgrades and Downgrades

TD has been the topic of a number of analyst reports. Scotiabank raised Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, April 17th. Jefferies Financial Group began coverage on shares of Toronto-Dominion Bank in a report on Thursday, February 22nd. They set a “hold” rating on the stock. Finally, Barclays began coverage on shares of Toronto-Dominion Bank in a research note on Wednesday, March 20th. They issued an “equal weight” rating for the company. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $89.33.

Toronto-Dominion Bank Company 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.