Scheer Rowlett & Associates Investment Management Ltd. raised its position in The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD by 5.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,000,901 shares of the bank's stock after buying an additional 104,893 shares during the quarter. Toronto-Dominion Bank comprises about 7.8% of Scheer Rowlett & Associates Investment Management Ltd.'s portfolio, making the stock its 2nd largest position. Scheer Rowlett & Associates Investment Management Ltd. owned about 0.11% of Toronto-Dominion Bank worth $106,391,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. CIBC Asset Management Inc boosted its stake in Toronto-Dominion Bank by 0.4% in the fourth quarter. CIBC Asset Management Inc now owns 16,575,599 shares of the bank's stock valued at $882,241,000 after buying an additional 59,956 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Toronto-Dominion Bank by 24.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,509,261 shares of the bank's stock valued at $854,815,000 after purchasing an additional 2,689,532 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of 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 valued at $770,921,000 after purchasing an additional 301,649 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of 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 valued at $617,166,000 after purchasing an additional 144,427 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Toronto-Dominion Bank by 6.4% in the 3rd quarter. Geode Capital Management LLC now owns 7,962,173 shares of the bank's stock valued at $506,846,000 after purchasing an additional 479,624 shares during the last quarter. 52.37% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities analysts have 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 report on Friday, December 6th. Scotiabank downgraded Toronto-Dominion Bank from a "sector outperform" rating to a "sector perform" rating in a research note on Friday, December 6th. StockNews.com lowered shares of Toronto-Dominion Bank from a "hold" rating to a "sell" rating in a report on Monday, February 24th. Barclays downgraded shares of Toronto-Dominion Bank from an "equal weight" rating to an "underweight" rating in a research note on Thursday, November 21st. Finally, Bank of America raised shares of Toronto-Dominion Bank from a "neutral" rating to a "buy" rating in a research note on Friday, January 17th. 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 given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $80.50.
Get Our Latest Stock Analysis on TD
Toronto-Dominion Bank Stock Up 1.2 %
Shares of NYSE TD traded up $0.70 during mid-day trading on Wednesday, reaching $58.37. 1,105,549 shares of the company's stock traded hands, compared to its average volume of 2,424,945. 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 business has a 50-day simple moving average of $57.62 and a 200 day simple moving average of $57.63. The stock has a market cap of $102.28 billion, a P/E ratio of 16.82, a PEG 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.7278 per share. This represents a $2.91 annualized dividend and a yield of 4.99%. The ex-dividend date of this dividend is Thursday, April 10th. Toronto-Dominion Bank's dividend payout ratio (DPR) is presently 85.29%.
About Toronto-Dominion Bank
(
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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