M&T Bank Corp Cuts Stock Position in The Toronto-Dominion Bank (NYSE:TD)

M&T Bank Corp cut its position in The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD by 79.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,435 shares of the bank's stock after selling 294,983 shares during the period. M&T Bank Corp's holdings in Toronto-Dominion Bank were worth $4,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Keybank National Association OH grew its holdings in shares of Toronto-Dominion Bank by 8.6% during the fourth quarter. Keybank National Association OH now owns 9,686 shares of the bank's stock worth $516,000 after buying an additional 764 shares in the last quarter. Nicola Wealth Management LTD. grew its stake in Toronto-Dominion Bank by 15.5% during the 4th quarter. Nicola Wealth Management LTD. now owns 510,002 shares of the bank's stock valued at $27,153,000 after acquiring an additional 68,400 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Toronto-Dominion Bank by 4.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,067,081 shares of the bank's stock valued at $269,637,000 after acquiring an additional 196,024 shares during the last quarter. LGT Group Foundation raised its holdings in Toronto-Dominion Bank by 31.7% in the 4th quarter. LGT Group Foundation now owns 8,300 shares of the bank's stock valued at $441,000 after acquiring an additional 2,000 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in Toronto-Dominion Bank in the 4th quarter worth approximately $51,000. 52.37% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Toronto-Dominion Bank Trading Up 0.6 %

TD traded up $0.38 on Friday, hitting $59.58. The company had a trading volume of 1,380,493 shares, compared to its average volume of 2,488,534. The company's fifty day moving average price is $57.41 and its 200 day moving average price is $57.67. The Toronto-Dominion Bank has a 1 year low of $51.25 and a 1 year high of $64.91. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.11. The firm has a market cap of $104.40 billion, a P/E ratio of 17.17, a PEG ratio of 1.95 and a beta of 0.83.

Toronto-Dominion Bank Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th will be paid a $0.7278 dividend. This represents a $2.91 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date is Thursday, April 10th. Toronto-Dominion Bank's dividend payout ratio (DPR) is 85.29%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. BMO Capital Markets raised Toronto-Dominion Bank from a "market perform" rating to an "outperform" rating in a report on Thursday, December 19th. StockNews.com lowered Toronto-Dominion Bank from a "hold" rating to a "sell" rating in a report on Monday, February 24th. Bank of America raised shares of Toronto-Dominion Bank from a "neutral" rating to a "buy" rating in a research report on Friday, January 17th. Barclays cut shares of Toronto-Dominion Bank from an "equal weight" rating to an "underweight" rating in a research report on Thursday, November 21st. Finally, Royal Bank of Canada decreased their target price on shares of Toronto-Dominion Bank from $82.00 to $77.00 and set a "sector perform" rating on the stock in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $80.50.

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.