The Toronto-Dominion Bank (NYSE:TD) Shares Sold by Tobam

Tobam cut its holdings in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 73.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,395 shares of the bank’s stock after selling 6,712 shares during the period. Tobam’s holdings in Toronto-Dominion Bank were worth $128,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of TD. The Manufacturers Life Insurance Company boosted its stake in Toronto-Dominion Bank by 24.9% in the third quarter. The Manufacturers Life Insurance Company now owns 13,509,261 shares of the bank’s stock valued at $854,815,000 after acquiring an additional 2,689,532 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in shares of Toronto-Dominion Bank by 61.1% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,011,579 shares of the bank’s stock worth $380,118,000 after purchasing an additional 2,279,864 shares during the last quarter. Quadrature Capital Ltd boosted its position in Toronto-Dominion Bank by 175.5% during the 3rd quarter. Quadrature Capital Ltd now owns 2,467,300 shares of the bank’s stock valued at $156,202,000 after purchasing an additional 1,571,700 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its stake in Toronto-Dominion Bank by 64.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,273,520 shares of the bank’s stock worth $143,922,000 after buying an additional 892,183 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in Toronto-Dominion Bank by 5.4% in the third quarter. CIBC Asset Management Inc now owns 16,515,643 shares of the bank’s stock worth $1,046,825,000 after buying an additional 853,313 shares during the period. Institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Trading Up 0.1 %

Toronto-Dominion Bank stock opened at $57.98 on Friday. The Toronto-Dominion Bank has a 12-month low of $51.25 and a 12-month 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. The stock has a market capitalization of $101.49 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 1.86 and a beta of 0.84. The firm has a 50 day simple moving average of $54.80 and a 200-day simple moving average of $57.38.

Toronto-Dominion Bank Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 10th were paid a dividend of $0.7482 per share. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. This represents a $2.99 dividend on an annualized basis and a yield of 5.16%. The ex-dividend date of this dividend was Friday, January 10th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 84.15%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on TD shares. BMO Capital Markets raised shares of Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a report on Thursday, December 19th. Bank of America upgraded shares of Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a research report on Friday, January 17th. Barclays cut Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a report on Thursday, November 21st. Royal Bank of Canada decreased their price objective on Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating for the company in a report on Friday, December 6th. Finally, Jefferies Financial Group raised Toronto-Dominion Bank from a “hold” rating to a “buy” rating in a research note on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price 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.