Advisors Capital Management LLC Lowers Stake in The Toronto-Dominion Bank (NYSE:TD)

Advisors Capital Management LLC reduced its position in The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD by 22.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 290,324 shares of the bank's stock after selling 84,996 shares during the quarter. Advisors Capital Management LLC's holdings in Toronto-Dominion Bank were worth $15,457,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Lee Danner & Bass Inc. bought a new stake in shares of Toronto-Dominion Bank during the 4th quarter valued at about $27,000. Bank of Jackson Hole Trust purchased a new stake in shares of Toronto-Dominion Bank during the fourth quarter valued at approximately $32,000. Versant Capital Management Inc grew 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 worth $37,000 after acquiring an additional 200 shares during the last quarter. Murphy & Mullick Capital Management Corp purchased a new position in Toronto-Dominion Bank during the 4th quarter valued at about $39,000. Finally, SBI Securities Co. Ltd. purchased a new position in shares of Toronto-Dominion Bank during the fourth quarter valued at approximately $51,000. Hedge funds and other institutional investors own 52.37% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TD. Bank of America upgraded shares of Toronto-Dominion Bank from a "neutral" rating to a "buy" rating in a research report on Friday, January 17th. StockNews.com lowered Toronto-Dominion Bank from a "hold" rating to a "sell" rating in a report on Monday, February 24th. Jefferies Financial Group downgraded Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a report on Tuesday, February 18th. Finally, BMO Capital Markets raised Toronto-Dominion Bank from a "market perform" rating to an "outperform" rating in a research report on Thursday, December 19th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $80.50.

Toronto-Dominion Bank Price Performance

NYSE TD traded up $0.23 on Friday, reaching $60.67. The company had a trading volume of 1,560,387 shares, compared to its average volume of 2,514,151. 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 stock has a market capitalization of $106.31 billion, a PE ratio of 17.48, a price-to-earnings-growth ratio of 1.95 and a beta of 0.73. The Toronto-Dominion Bank has a 12 month low of $51.25 and a 12 month high of $64.91. The firm's 50 day moving average price is $59.25 and its 200 day moving average price is $57.19.

Toronto-Dominion Bank Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th will be given a dividend of $0.7278 per share. This represents a $2.91 annualized dividend and a dividend yield of 4.80%. The ex-dividend date is Thursday, April 10th. Toronto-Dominion Bank's dividend payout ratio is 85.59%.

About Toronto-Dominion Bank

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.