Alhambra Investment Management LLC Decreases Stake in The Toronto-Dominion Bank (NYSE:TD)

Alhambra Investment Management LLC cut its holdings in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 38.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,001 shares of the bank’s stock after selling 3,100 shares during the quarter. Alhambra Investment Management LLC’s holdings in Toronto-Dominion Bank were worth $266,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Arkadios Wealth Advisors purchased a new position in shares of Toronto-Dominion Bank in the fourth quarter valued at $268,000. Avanza Fonder AB bought a new position in Toronto-Dominion Bank in the 4th quarter worth about $6,416,000. Dixon Mitchell Investment Counsel Inc. boosted its stake in Toronto-Dominion Bank by 1.2% in the 4th quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,469,207 shares of the bank’s stock worth $78,193,000 after purchasing an additional 16,714 shares during the period. Godsey & Gibb Inc. grew its holdings in Toronto-Dominion Bank by 1.8% during the 4th quarter. Godsey & Gibb Inc. now owns 334,340 shares of the bank’s stock valued at $17,800,000 after buying an additional 5,826 shares in the last quarter. Finally, Pines Wealth Management LLC bought a new stake in shares of Toronto-Dominion Bank during the fourth quarter valued at about $274,000. Institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Trading Up 3.9 %

NYSE TD opened at $57.49 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.11. The stock’s 50-day simple moving average is $54.47 and its two-hundred day simple moving average is $57.29. The Toronto-Dominion Bank has a twelve month low of $51.25 and a twelve month high of $64.91. The company has a market capitalization of $100.63 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 1.72 and a beta of 0.83.

Toronto-Dominion Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 10th will be paid a $0.7482 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $2.99 annualized dividend and a yield of 5.21%. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. Toronto-Dominion Bank’s dividend payout ratio is currently 87.03%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on TD shares. Desjardins cut shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Bank of America raised shares of Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a report on Friday. Barclays lowered Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a research note on Thursday, November 21st. StockNews.com lowered Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Friday, December 27th. Finally, Royal Bank of Canada dropped their price target on Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating for the company in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target 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.