Tetrem Capital Management Ltd. Lowers stake in Toronto-Dominion Bank (TD)

Toronto-Dominion Bank (TD) : Tetrem Capital Management Ltd. reduced its stake in Toronto-Dominion Bank by 7.82% during the most recent quarter end. The investment management company now holds a total of 3,683,235 shares of Toronto-Dominion Bank which is valued at $159.6 Million after selling 312,335 shares in Toronto-Dominion Bank , the firm said in a disclosure report filed with the SEC on May 13, 2016.Toronto-Dominion Bank makes up approximately 6.32% of Tetrem Capital Management Ltd.’s portfolio.

Other Hedge Funds, Including , Sentry Investments Corp. reduced its stake in TD by selling 364,600 shares or 32.78% in the most recent quarter. The Hedge Fund company now holds 747,600 shares of TD which is valued at $32.4 Million. Toronto-Dominion Bank makes up approx 0.47% of Sentry Investments Corp.’s portfolio. Johnson Financial Group sold out all of its stake in TD during the most recent quarter. The investment firm sold 185 shares of TD which is valued $8,016. Pacad Investment Ltd. sold out all of its stake in TD during the most recent quarter. The investment firm sold 20,000 shares of TD which is valued $860,800.Russell Frank Co reduced its stake in TD by selling 202,799 shares or 3.66% in the most recent quarter. The Hedge Fund company now holds 5,340,935 shares of TD which is valued at $237.7 Million. Toronto-Dominion Bank makes up approx 0.41% of Russell Frank Co’s portfolio. Alexandria Capital sold out all of its stake in TD during the most recent quarter. The investment firm sold 1,200 shares of TD which is valued $53,400.

Toronto-Dominion Bank opened for trading at $43.55 and hit $44.2 on the upside on Wednesday, eventually ending the session at $44.09, with a gain of 1.75% or 0.76 points. The heightened volatility saw the trading volume jump to 18,37,420 shares. Company has a market cap of $81,624 M.

On the company’s financial health, Toronto-Dominion Bank reported $1.18 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Feb 25, 2016. Analyst had a consensus of $1.19. The company had revenue of $8564.00 million for the quarter, compared to analysts expectations of $7819.59 million. The company’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.06 EPS.

Many Wall Street Analysts have commented on Toronto-Dominion Bank. Toronto-Dominion Bank was Upgraded by Credit Suisse to ” Outperform” on May 3, 2016.

The Toronto-Dominion Bank (the Bank) operates as a bank in North America. The Bank conducts its business through segments such as Canadian Retail U.S. Retail Wholesale Banking and Corporate. Canadian Retail provides a range of financial products and services to customers in the Canadian personal and commercial banking businesses including credit cards auto finance wealth and insurance businesses. U.S. Retail consists of the Bank’s retail and commercial banking operations operating under the brand TD Bank America’s Most Convenient Bank and wealth management services in the United States. Wholesale Banking provides a range of capital markets investment banking and corporate banking products and services including underwriting and distribution of new debt and equity issues providing advice on strategic acquisitions and divestitures and meeting the daily trading funding and investment needs of its clients. The Bank is also an online financial services firm.

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