Bank of Nova Scotia Trust Co. Reduces Stake in The Toronto-Dominion Bank (NYSE:TD)

Bank of Nova Scotia Trust Co. trimmed its holdings in shares of The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD by 3.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 797,730 shares of the bank's stock after selling 27,745 shares during the period. Toronto-Dominion Bank comprises approximately 4.5% of Bank of Nova Scotia Trust Co.'s portfolio, making the stock its 3rd largest position. Bank of Nova Scotia Trust Co.'s holdings in Toronto-Dominion Bank were worth $42,471,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of TD. Vanguard Group Inc. raised its holdings in Toronto-Dominion Bank by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 74,118,551 shares of the bank's stock valued at $3,946,072,000 after buying an additional 1,415,934 shares during the last quarter. FIL Ltd raised its stake in shares of Toronto-Dominion Bank by 17.3% during the fourth quarter. FIL Ltd now owns 38,989,749 shares of the bank's stock valued at $2,075,819,000 after acquiring an additional 5,756,584 shares during the last quarter. Norges Bank purchased a new stake in shares of Toronto-Dominion Bank during the fourth quarter worth about $992,204,000. Beutel Goodman & Co Ltd. boosted its holdings in shares of Toronto-Dominion Bank by 3.8% during the fourth quarter. Beutel Goodman & Co Ltd. now owns 16,803,807 shares of the bank's stock worth $894,169,000 after purchasing an additional 622,736 shares during the period. Finally, CIBC Asset Management Inc grew its stake in shares of 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 worth $882,241,000 after purchasing an additional 59,956 shares during the last quarter. 52.37% of the stock is owned by institutional investors.

Toronto-Dominion Bank Stock Up 0.4 %

Shares of Toronto-Dominion Bank stock traded up $0.24 during midday trading on Thursday, hitting $62.03. The company had a trading volume of 619,536 shares, compared to its average volume of 2,483,110. The Toronto-Dominion Bank has a 52-week low of $51.25 and a 52-week high of $64.91. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $108.70 billion, a P/E ratio of 17.87, a P/E/G ratio of 1.95 and a beta of 0.73. The company has a 50 day moving average of $59.35 and a 200 day moving average of $57.13.

Toronto-Dominion Bank Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th will be issued a dividend of $0.7278 per share. The ex-dividend date is Thursday, April 10th. This represents a $2.91 annualized dividend and a dividend yield of 4.69%. Toronto-Dominion Bank's payout ratio is presently 85.59%.

Analyst Upgrades and Downgrades

TD has been the subject of several research analyst reports. 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 lowered shares of Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Toronto-Dominion Bank currently has an average rating of "Hold" and an average price target of $80.50.

Toronto-Dominion Bank Profile

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.