Hennessy Advisors Inc. Has $4.36 Million Position in The Toronto-Dominion Bank (NYSE:TD)

Hennessy Advisors Inc. decreased its position in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 3.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 81,900 shares of the bank’s stock after selling 2,900 shares during the quarter. Hennessy Advisors Inc.’s holdings in Toronto-Dominion Bank were worth $4,360,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Dunhill Financial LLC increased its holdings in shares of Toronto-Dominion Bank by 164.9% in the third quarter. Dunhill Financial LLC now owns 400 shares of the bank’s stock worth $25,000 after acquiring an additional 249 shares in the last quarter. Versant Capital Management Inc grew its position in shares of Toronto-Dominion Bank by 40.0% in the 4th quarter. Versant Capital Management Inc now owns 700 shares of the bank’s stock valued at $37,000 after purchasing an additional 200 shares during the period. Kimelman & Baird LLC acquired a new stake in Toronto-Dominion Bank during the 2nd quarter worth approximately $49,000. Morse Asset Management Inc bought a new position in Toronto-Dominion Bank in the third quarter valued at approximately $63,000. Finally, Eastern Bank acquired a new position in shares of Toronto-Dominion Bank in the third quarter valued at approximately $66,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. StockNews.com lowered Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Friday, December 27th. Bank of America upgraded shares of Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a research note on Friday. Desjardins downgraded Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Royal Bank of Canada dropped their price objective on Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating on the stock in a research note on Friday, December 6th. Finally, Scotiabank cut shares of Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research note on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Toronto-Dominion Bank has a consensus rating of “Hold” and an average target price of $80.50.

Toronto-Dominion Bank Price Performance

NYSE:TD opened at $57.49 on Friday. The Toronto-Dominion Bank has a 12-month low of $51.25 and a 12-month high of $64.91. The firm has a market capitalization of $100.63 billion, a price-to-earnings ratio of 16.57, a P/E/G ratio of 1.72 and a beta of 0.83. The stock’s 50 day moving average price is $54.47 and its two-hundred day moving average price is $57.29. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.11.

Toronto-Dominion Bank Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 10th will be issued a dividend of $0.7482 per share. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. The ex-dividend date is Friday, January 10th. This represents a $2.99 annualized dividend and a yield of 5.21%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is currently 87.03%.

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.