Connor Clark & Lunn Investment Management Ltd. reduced its stake in The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD by 5.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,211,286 shares of the bank's stock after selling 550,022 shares during the period. Toronto-Dominion Bank makes up approximately 2.2% of Connor Clark & Lunn Investment Management Ltd.'s holdings, making the stock its 4th largest holding. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.53% of Toronto-Dominion Bank worth $489,779,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the stock. Dunhill Financial LLC grew its position in Toronto-Dominion Bank by 164.9% during the 3rd quarter. Dunhill Financial LLC now owns 400 shares of the bank's stock worth $25,000 after acquiring an additional 249 shares during the last quarter. Bank of Jackson Hole Trust acquired a new position in Toronto-Dominion Bank during the 4th quarter worth $32,000. Versant Capital Management Inc lifted its holdings in Toronto-Dominion Bank by 40.0% during the 4th quarter. Versant Capital Management Inc now owns 700 shares of the bank's stock worth $37,000 after buying an additional 200 shares in the last quarter. SBI Securities Co. Ltd. acquired a new position in Toronto-Dominion Bank during the 4th quarter worth $51,000. Finally, Morse Asset Management Inc acquired a new position in Toronto-Dominion Bank during the 3rd quarter worth $63,000. 52.37% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several research analysts have issued reports on TD shares. BMO Capital Markets raised Toronto-Dominion Bank from a "market perform" rating to an "outperform" rating in a report on Thursday, December 19th. Royal Bank of Canada lowered their price objective on shares of Toronto-Dominion Bank from $82.00 to $77.00 and set a "sector perform" rating for the company in a research report on Friday, December 6th. 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. 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. Finally, Jefferies Financial Group cut shares of Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Toronto-Dominion Bank currently has a consensus rating of "Hold" and a consensus target price of $80.50.
View Our Latest Stock Report on TD
Toronto-Dominion Bank Price Performance
Shares of TD stock traded up $1.28 during trading on Friday, hitting $58.95. The company had a trading volume of 1,027,063 shares, compared to its average volume of 2,438,431. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $103.30 billion, a P/E ratio of 16.99, a price-to-earnings-growth ratio of 1.95 and a beta of 0.83. The stock's 50-day moving average price is $57.92 and its 200 day moving average price is $57.61. The Toronto-Dominion Bank has a one year low of $51.25 and a one year high of $64.91.
Toronto-Dominion Bank Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 10th will be given a dividend of $0.7278 per share. The ex-dividend date is Thursday, April 10th. This represents a $2.91 annualized dividend and a yield of 4.94%. Toronto-Dominion Bank's dividend payout ratio is currently 85.29%.
Toronto-Dominion Bank Profile
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Free Report)
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.
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