Raymond James Financial Inc. Makes New $7.87 Million Investment in The Toronto-Dominion Bank (NYSE:TD)

Raymond James Financial Inc. bought a new stake in The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 147,721 shares of the bank's stock, valued at approximately $7,865,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Lee Danner & Bass Inc. purchased a new stake in Toronto-Dominion Bank in the 4th quarter worth approximately $27,000. Bank of Jackson Hole Trust acquired a new position in shares of Toronto-Dominion Bank in the fourth quarter worth $32,000. Versant Capital Management Inc raised its holdings in shares of Toronto-Dominion Bank by 40.0% during the fourth quarter. Versant Capital Management Inc now owns 700 shares of the bank's stock worth $37,000 after acquiring an additional 200 shares in the last quarter. Murphy & Mullick Capital Management Corp acquired a new stake in Toronto-Dominion Bank during the fourth quarter valued at $39,000. Finally, SBI Securities Co. Ltd. purchased a new position in Toronto-Dominion Bank in the fourth quarter valued at about $51,000. Institutional investors and hedge funds own 52.37% of the company's stock.

Toronto-Dominion Bank Stock Up 1.8 %

Shares of Toronto-Dominion Bank stock opened at $61.93 on Wednesday. The Toronto-Dominion Bank has a 12-month low of $51.25 and a 12-month high of $64.91. The stock has a market capitalization of $108.51 billion, a P/E ratio of 17.85, a PEG ratio of 1.95 and a beta of 0.73. 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 50 day moving average price of $59.31 and a two-hundred day moving average price of $57.09.

Toronto-Dominion Bank Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors 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 dividend on an annualized basis and a yield of 4.70%. Toronto-Dominion Bank's payout ratio is presently 85.59%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on TD shares. Bank of America upgraded Toronto-Dominion Bank from a "neutral" rating to a "buy" rating in a report on Friday, January 17th. StockNews.com downgraded shares of Toronto-Dominion Bank from a "hold" rating to a "sell" rating in a research report on Monday, February 24th. Finally, Jefferies Financial Group downgraded shares of Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a report on Tuesday, February 18th. Two 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 stock. According to data from MarketBeat, Toronto-Dominion Bank currently has an average rating of "Hold" and an average target price 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.

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