Welch & Forbes LLC cut its holdings in The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD by 28.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,974 shares of the bank's stock after selling 26,498 shares during the period. Welch & Forbes LLC's holdings in Toronto-Dominion Bank were worth $3,566,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Dunhill Financial LLC raised its stake in Toronto-Dominion Bank by 164.9% in the third quarter. Dunhill Financial LLC now owns 400 shares of the bank's stock valued at $25,000 after buying an additional 249 shares in the last quarter. Bank of Jackson Hole Trust acquired a new stake in Toronto-Dominion Bank in the fourth quarter valued at $32,000. Versant Capital Management Inc raised its stake in 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 buying an additional 200 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of Toronto-Dominion Bank during the fourth quarter worth about $51,000. Finally, Union Bancaire Privee UBP SA purchased a new position in shares of Toronto-Dominion Bank during the fourth quarter worth about $58,000. 52.37% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities analysts have issued reports on TD shares. StockNews.com lowered Toronto-Dominion Bank from a "hold" rating to a "sell" rating in a report on Monday, February 24th. Scotiabank lowered Toronto-Dominion Bank from a "sector outperform" rating to a "sector perform" rating in a report on Friday, December 6th. Bank of America raised Toronto-Dominion Bank from a "neutral" rating to a "buy" rating in a report on Friday, January 17th. Jefferies Financial Group lowered Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a report on Tuesday, February 18th. Finally, Royal Bank of Canada dropped their price objective on Toronto-Dominion Bank from $82.00 to $77.00 and set a "sector perform" rating on the stock in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $80.50.
Check Out Our Latest Research Report on TD
Toronto-Dominion Bank Stock Performance
Shares of NYSE TD traded down $1.00 during midday trading on Tuesday, reaching $57.76. 2,223,228 shares of the company were exchanged, compared to its average volume of 2,455,450. 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 Toronto-Dominion Bank has a 1 year low of $51.25 and a 1 year high of $64.91. The stock has a fifty day simple moving average of $57.53 and a 200 day simple moving average of $57.64. The stock has a market cap of $101.20 billion, a P/E ratio of 16.64, a PEG ratio of 1.95 and a beta of 0.83.
Toronto-Dominion Bank Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 10th will be issued a $0.7278 dividend. This represents a $2.91 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date is Thursday, April 10th. Toronto-Dominion Bank's dividend payout ratio is presently 85.29%.
Toronto-Dominion Bank Profile
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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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