The Toronto-Dominion Bank (NYSE:TD) is Scotia Capital Inc.'s 7th Largest Position

Scotia Capital Inc. reduced its holdings in shares of The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD by 4.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,047,091 shares of the bank's stock after selling 543,674 shares during the quarter. Toronto-Dominion Bank accounts for about 3.1% of Scotia Capital Inc.'s holdings, making the stock its 7th biggest position. Scotia Capital Inc. owned approximately 0.63% of Toronto-Dominion Bank worth $588,047,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank purchased a new stake in Toronto-Dominion Bank in the 4th quarter valued at $992,204,000. FIL Ltd grew its stake in shares of Toronto-Dominion Bank by 17.3% in the 4th quarter. FIL Ltd now owns 38,989,749 shares of the bank's stock worth $2,075,819,000 after acquiring an additional 5,756,584 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Toronto-Dominion Bank by 32.2% in the fourth quarter. Geode Capital Management LLC now owns 10,526,821 shares of the bank's stock valued at $569,878,000 after purchasing an additional 2,564,648 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Toronto-Dominion Bank by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 74,118,551 shares of the bank's stock valued at $3,946,072,000 after purchasing an additional 1,415,934 shares in the last quarter. Finally, Guardian Partners Inc. purchased a new position in Toronto-Dominion Bank during the fourth quarter worth about $38,332,000. 52.37% of the stock is owned by institutional investors.

Toronto-Dominion Bank Stock Performance

NYSE:TD traded down $0.14 during trading hours on Tuesday, reaching $59.82. The stock had a trading volume of 530,055 shares, compared to its average volume of 2,518,643. The stock has a market cap of $104.83 billion, a P/E ratio of 17.24, a price-to-earnings-growth ratio of 1.95 and a beta of 0.73. The stock has a 50 day simple moving average of $59.15 and a 200 day simple moving average of $57.16. 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 Toronto-Dominion Bank has a 12-month low of $51.25 and a 12-month high of $64.91.

Toronto-Dominion Bank Cuts Dividend

The company also recently disclosed 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. This represents a $2.91 dividend on an annualized basis and a yield of 4.87%. The ex-dividend date is Thursday, April 10th. Toronto-Dominion Bank's dividend payout ratio is currently 85.59%.

Wall Street Analysts Forecast Growth

Several research firms have commented on TD. StockNews.com cut shares of Toronto-Dominion Bank from a "hold" rating to a "sell" rating in a research report on Monday, February 24th. BMO Capital Markets upgraded Toronto-Dominion Bank from a "market perform" rating to an "outperform" rating in a report on Thursday, December 19th. Jefferies Financial Group cut Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Finally, Bank of America raised Toronto-Dominion Bank from a "neutral" rating to a "buy" rating in a research report on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Toronto-Dominion Bank presently has a consensus rating of "Hold" and a consensus target price of $80.50.

Toronto-Dominion Bank Company 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.