Korea Investment CORP Sells 167,771 Shares of The Toronto-Dominion Bank (NYSE:TD)

Korea Investment CORP lessened its stake in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 12.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,162,597 shares of the bank’s stock after selling 167,771 shares during the quarter. Korea Investment CORP’s holdings in Toronto-Dominion Bank were worth $61,865,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. 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 worth $156,202,000 after acquiring an additional 1,571,700 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Toronto-Dominion Bank by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 74,118,551 shares of the bank’s stock worth $3,946,072,000 after acquiring an additional 1,415,934 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its position in Toronto-Dominion Bank by 64.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,273,520 shares of the bank’s stock worth $143,922,000 after purchasing an additional 892,183 shares during the period. Guardian Partners Inc. bought a new position in shares of Toronto-Dominion Bank in the fourth quarter valued at about $38,332,000. Finally, Zurich Insurance Group Ltd FI acquired a new stake in shares of Toronto-Dominion Bank during the 3rd quarter worth about $43,257,000. 52.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on TD. BMO Capital Markets upgraded shares of Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a research note on Thursday, December 19th. Royal Bank of Canada decreased their target price on Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating on the stock in a research report on Friday, December 6th. Desjardins cut Toronto-Dominion Bank from a “buy” rating to a “hold” 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. Finally, StockNews.com downgraded Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Monday, February 24th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Toronto-Dominion Bank has a consensus rating of “Hold” and an average price target of $80.50.

Toronto-Dominion Bank Stock Down 0.2 %

Shares of NYSE TD opened at $61.00 on Friday. The stock has a market capitalization of $106.89 billion, a P/E ratio of 17.58, a PEG ratio of 1.95 and a beta of 0.83. The stock’s fifty day moving average is $58.94 and its 200 day moving average is $57.67. The Toronto-Dominion Bank has a 52 week low of $51.25 and a 52 week high of $64.91. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.03 and a current ratio of 1.03.

Toronto-Dominion Bank Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th will be given a $0.7278 dividend. This represents a $2.91 annualized dividend and a dividend yield of 4.77%. The ex-dividend date of this dividend is Thursday, April 10th. Toronto-Dominion Bank’s payout ratio is presently 85.29%.

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.