Highland Capital Management LLC Has $1.30 Million Stock Holdings in The Toronto-Dominion Bank (NYSE:TD)

Highland Capital Management LLC lowered its stake in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 3.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 24,400 shares of the bank’s stock after selling 900 shares during the period. Highland Capital Management LLC’s holdings in Toronto-Dominion Bank were worth $1,299,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. CIBC Asset Management Inc boosted its holdings in shares of Toronto-Dominion Bank by 5.4% during the third quarter. CIBC Asset Management Inc now owns 16,515,643 shares of the bank’s stock worth $1,046,825,000 after acquiring an additional 853,313 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Toronto-Dominion Bank by 24.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,509,261 shares of the bank’s stock valued at $854,815,000 after buying an additional 2,689,532 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Toronto-Dominion Bank by 2.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 12,186,545 shares of the bank’s stock valued at $770,921,000 after buying an additional 301,649 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Toronto-Dominion Bank by 1.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,761,308 shares of the bank’s stock worth $617,166,000 after buying an additional 144,427 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Toronto-Dominion Bank by 6.4% during the third quarter. Geode Capital Management LLC now owns 7,962,173 shares of the bank’s stock worth $506,846,000 after buying an additional 479,624 shares in the last quarter. 52.37% of the stock is owned by institutional investors.

Toronto-Dominion Bank Stock Performance

Shares of Toronto-Dominion Bank stock opened at $57.32 on Friday. The company’s 50 day moving average price is $54.65 and its two-hundred day moving average price is $57.41. The firm has a market capitalization of $100.34 billion, a P/E ratio of 16.52, a P/E/G ratio of 1.83 and a beta of 0.83. The Toronto-Dominion Bank has a fifty-two week low of $51.25 and a fifty-two week high of $64.91. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.03 and a quick ratio of 1.03.

Toronto-Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 10th will be given a dividend of $0.7482 per share. The ex-dividend date is Friday, January 10th. This represents a $2.99 dividend on an annualized basis and a yield of 5.22%. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. Toronto-Dominion Bank’s payout ratio is currently 84.15%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TD shares. Bank of America raised shares of Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a research report on Friday, January 17th. Desjardins downgraded shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Barclays downgraded Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a research report on Thursday, November 21st. Jefferies Financial Group raised Toronto-Dominion Bank from a “hold” rating to a “buy” rating in a report on Thursday, December 12th. Finally, Scotiabank cut Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus 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.