JPMorgan Chase & Co. Raises Position in The Toronto-Dominion Bank (NYSE:TD)

JPMorgan Chase & Co. lifted its stake in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,213,418 shares of the bank’s stock after purchasing an additional 236,037 shares during the quarter. JPMorgan Chase & Co.’s holdings in Toronto-Dominion Bank were worth $384,042,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Asahi Life Asset Management CO. LTD. purchased a new position in Toronto-Dominion Bank during the fourth quarter worth $416,000. Cerity Partners LLC lifted its holdings in shares of Toronto-Dominion Bank by 57.1% in the 3rd quarter. Cerity Partners LLC now owns 26,755 shares of the bank’s stock worth $1,693,000 after acquiring an additional 9,725 shares during the last quarter. FMR LLC boosted its stake in shares of Toronto-Dominion Bank by 9.9% during the 3rd quarter. FMR LLC now owns 6,553,761 shares of the bank’s stock worth $414,417,000 after purchasing an additional 587,947 shares during the period. Vanguard Group Inc. grew its holdings in Toronto-Dominion Bank by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 74,118,551 shares of the bank’s stock valued at $3,946,072,000 after purchasing an additional 1,415,934 shares during the last quarter. Finally, Nicola Wealth Management LTD. raised its position in Toronto-Dominion Bank by 15.5% in the 4th quarter. Nicola Wealth Management LTD. now owns 510,002 shares of the bank’s stock worth $27,153,000 after purchasing an additional 68,400 shares during the period. Institutional investors own 52.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Jefferies Financial Group lowered Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Scotiabank downgraded Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research report on Friday, December 6th. StockNews.com lowered Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Monday, February 24th. Royal Bank of Canada lowered their target price on shares of Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating for the company in a research note on Friday, December 6th. Finally, Desjardins downgraded shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Toronto-Dominion Bank currently has an average rating of “Hold” and a consensus price target of $80.50.

Toronto-Dominion Bank Stock Performance

Shares of Toronto-Dominion Bank stock opened at $60.31 on Friday. 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 stock’s fifty day moving average price is $58.99 and its 200-day moving average price is $57.64. The firm has a market cap of $105.67 billion, a P/E ratio of 17.38, a P/E/G ratio of 1.95 and a beta of 0.83. The Toronto-Dominion Bank has a 12 month low of $51.25 and a 12 month high of $64.91.

Toronto-Dominion Bank Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 10th will be given a dividend of $0.7278 per share. This represents a $2.91 dividend on an annualized basis and a yield of 4.83%. The ex-dividend date is Thursday, April 10th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is 85.29%.

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.