Mystic Asset Management Inc. Invests $422,000 in The Toronto-Dominion Bank (NYSE:TD)

Mystic Asset Management Inc. acquired a new stake in shares of The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 7,925 shares of the bank's stock, valued at approximately $422,000.

Several other hedge funds also recently modified their holdings of TD. CIBC Asset Management Inc raised its position in Toronto-Dominion Bank by 0.4% during the 4th quarter. CIBC Asset Management Inc now owns 16,575,599 shares of the bank's stock worth $882,241,000 after purchasing an additional 59,956 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Toronto-Dominion Bank by 24.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,509,261 shares of the bank's stock worth $854,815,000 after purchasing an additional 2,689,532 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Toronto-Dominion Bank by 2.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 12,186,545 shares of the bank's stock worth $770,921,000 after purchasing an additional 301,649 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Toronto-Dominion Bank by 1.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,761,308 shares of the bank's stock worth $617,166,000 after purchasing an additional 144,427 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Toronto-Dominion Bank by 6.4% during the 3rd quarter. Geode Capital Management LLC now owns 7,962,173 shares of the bank's stock worth $506,846,000 after purchasing an additional 479,624 shares during the last quarter. Institutional investors and hedge funds own 52.37% of the company's stock.

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Analysts Set New Price Targets

Several research analysts recently issued reports on TD shares. Royal Bank of Canada lowered their target price on 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. StockNews.com lowered Toronto-Dominion Bank from a "hold" rating to a "sell" rating in a research report on Monday, February 24th. Desjardins lowered Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a research report on Friday, December 6th. BMO Capital Markets raised Toronto-Dominion Bank from a "market perform" rating to an "outperform" rating in a research report on Thursday, December 19th. Finally, Jefferies Financial Group lowered 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 issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $80.50.

Toronto-Dominion Bank Stock Down 0.7 %

Shares of TD traded down $0.41 during trading hours on Friday, hitting $59.50. The stock had a trading volume of 1,950,277 shares, compared to its average volume of 2,409,877. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a 50 day simple moving average of $58.46 and a 200-day simple moving average of $57.64. The firm has a market capitalization of $104.25 billion, a P/E ratio of 17.15, a price-to-earnings-growth ratio of 1.95 and a beta of 0.83. The Toronto-Dominion Bank has a 1-year low of $51.25 and a 1-year high of $64.91.

Toronto-Dominion Bank Cuts Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.91 annualized dividend and a dividend yield of 4.89%. Toronto-Dominion Bank's dividend payout ratio is presently 85.29%.

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.