Hillsdale Investment Management Inc. Purchases 391,930 Shares of The Toronto-Dominion Bank (NYSE:TD)

Hillsdale Investment Management Inc. raised its position in The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD by 608.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 456,391 shares of the bank's stock after acquiring an additional 391,930 shares during the quarter. Toronto-Dominion Bank makes up approximately 1.2% of Hillsdale Investment Management Inc.'s portfolio, making the stock its 16th biggest position. Hillsdale Investment Management Inc.'s holdings in Toronto-Dominion Bank were worth $24,271,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Frank Rimerman Advisors LLC increased its stake in Toronto-Dominion Bank by 3.2% in the fourth quarter. Frank Rimerman Advisors LLC now owns 5,446 shares of the bank's stock valued at $290,000 after purchasing an additional 171 shares during the last quarter. Pathstone Holdings LLC grew its holdings in shares of Toronto-Dominion Bank by 0.8% during the third quarter. Pathstone Holdings LLC now owns 22,309 shares of the bank's stock worth $1,411,000 after purchasing an additional 184 shares during the last quarter. Passumpsic Savings Bank boosted its position 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 purchasing an additional 194 shares during the period. Versant Capital Management Inc boosted its holdings in shares of Toronto-Dominion Bank by 40.0% in the fourth quarter. Versant Capital Management Inc now owns 700 shares of the bank's stock valued at $37,000 after acquiring an additional 200 shares during the period. Finally, Cardinal Capital Management boosted its stake in Toronto-Dominion Bank by 0.5% during the 4th 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 period. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

A number of research firms recently weighed in on TD. Royal Bank of Canada lowered their price objective on shares of 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. Desjardins downgraded Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a research report on Friday, December 6th. Scotiabank lowered shares of Toronto-Dominion Bank from a "sector outperform" rating to a "sector perform" rating in a report on Friday, December 6th. StockNews.com cut shares of Toronto-Dominion Bank from a "hold" rating to a "sell" rating in a report on Monday, February 24th. Finally, Bank of America raised Toronto-Dominion Bank from a "neutral" rating to a "buy" rating in a report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $80.50.

Toronto-Dominion Bank Stock Up 0.3 %

NYSE TD traded up $0.20 during trading on Wednesday, reaching $61.15. 3,179,646 shares of the company's stock were exchanged, compared to its average volume of 2,401,625. The firm has a market capitalization of $107.15 billion, a PE ratio of 17.62, a P/E/G ratio of 1.95 and a beta of 0.83. 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 company's fifty day simple moving average is $58.82 and its 200-day simple moving average is $57.65. The Toronto-Dominion Bank has a fifty-two week low of $51.25 and a fifty-two week 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. Shareholders of record on Thursday, April 10th will be given a dividend of $0.7278 per share. This represents a $2.91 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date is Thursday, April 10th. Toronto-Dominion Bank's dividend payout ratio is 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.