The Toronto-Dominion Bank (NYSE:TD) Stake Lowered by TD Asset Management Inc.

TD Asset Management Inc. decreased its position in The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD by 11.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,873,016 shares of the bank's stock after selling 4,637,904 shares during the quarter. Toronto-Dominion Bank accounts for about 1.7% of TD Asset Management Inc.'s holdings, making the stock its 7th biggest holding. TD Asset Management Inc. owned 2.11% of Toronto-Dominion Bank worth $1,962,100,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Frank Rimerman Advisors LLC lifted its position in shares of Toronto-Dominion Bank by 3.2% during the 4th quarter. Frank Rimerman Advisors LLC now owns 5,446 shares of the bank's stock worth $290,000 after purchasing an additional 171 shares during the last quarter. Pathstone Holdings LLC boosted its position in shares of Toronto-Dominion Bank by 0.8% during the 3rd quarter. Pathstone Holdings LLC now owns 22,309 shares of the bank's stock worth $1,411,000 after acquiring an additional 184 shares in the last quarter. Passumpsic Savings Bank increased its holdings in shares of Toronto-Dominion Bank by 2.6% in the 3rd quarter. Passumpsic Savings Bank now owns 7,530 shares of the bank's stock valued at $476,000 after acquiring an additional 194 shares during the last quarter. Versant Capital Management Inc raised its position in shares of 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 acquiring an additional 200 shares in the last quarter. Finally, Cardinal Capital Management lifted its stake in Toronto-Dominion Bank by 0.5% during the fourth quarter. Cardinal Capital Management now owns 44,685 shares of the bank's stock worth $2,379,000 after purchasing an additional 205 shares during the last quarter. Hedge funds and other institutional investors own 52.37% of the company's stock.

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Toronto-Dominion Bank Stock Performance

Shares of Toronto-Dominion Bank stock traded down $0.64 during trading hours on Friday, hitting $60.32. 871,599 shares of the company were exchanged, compared to its average volume of 2,298,443. 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 stock has a market capitalization of $105.70 billion, a price-to-earnings ratio of 17.38, a P/E/G ratio of 1.95 and a beta of 0.83. The business has a 50-day moving average of $58.94 and a 200-day moving average of $57.67. 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 declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th will be paid a dividend of $0.7278 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.91 dividend on an annualized basis and a dividend yield of 4.83%. Toronto-Dominion Bank's dividend payout ratio (DPR) is 85.29%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Desjardins cut shares of Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a research report on Friday, December 6th. Scotiabank cut Toronto-Dominion Bank from a "sector outperform" rating to a "sector perform" rating in a research report on Friday, December 6th. Royal Bank of Canada cut their price target on Toronto-Dominion Bank from $82.00 to $77.00 and set a "sector perform" rating on the stock in a research report on Friday, December 6th. Jefferies Financial Group downgraded Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a report on Tuesday, February 18th. Finally, StockNews.com cut shares of Toronto-Dominion Bank from a "hold" rating to a "sell" rating in a report on Monday, February 24th. 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.com, Toronto-Dominion Bank currently has a consensus 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.