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

Hennessy Advisors Inc. trimmed its position in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 3.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in TD. Dunhill Financial LLC boosted its position 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 valued at $25,000 after acquiring an additional 249 shares during the period. Versant Capital Management Inc boosted its holdings in 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 position in shares of Toronto-Dominion Bank during the 2nd quarter worth approximately $49,000. Morse Asset Management Inc bought a new position in shares of Toronto-Dominion Bank during the third quarter worth approximately $63,000. Finally, Eastern Bank bought a new position in shares of Toronto-Dominion Bank during the third quarter worth approximately $66,000. Institutional investors own 52.37% of the company’s stock.

Analyst Ratings Changes

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

Toronto-Dominion Bank Price Performance

Shares of TD stock opened at $57.49 on Friday. The business has a fifty day simple moving average of $54.47 and a 200 day simple moving average of $57.29. The company has a market cap of $100.63 billion, a P/E ratio of 16.57, a P/E/G ratio of 1.72 and a beta of 0.83. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.11. The Toronto-Dominion Bank has a twelve month low of $51.25 and a twelve month high of $64.91.

Toronto-Dominion Bank Increases Dividend

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

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.