Summit Securities Group LLC Trims Stock Position in The Toronto-Dominion Bank (NYSE:TD)

Summit Securities Group LLC lessened its stake in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 52.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,300 shares of the bank’s stock after selling 1,410 shares during the period. Summit Securities Group LLC’s holdings in Toronto-Dominion Bank were worth $69,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Asahi Life Asset Management CO. LTD. acquired a new stake in shares of Toronto-Dominion Bank in the 4th quarter valued at about $416,000. Cerity Partners LLC lifted its stake in Toronto-Dominion Bank by 57.1% in the third quarter. Cerity Partners LLC now owns 26,755 shares of the bank’s stock valued at $1,693,000 after buying an additional 9,725 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Toronto-Dominion Bank by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 74,118,551 shares of the bank’s stock valued at $3,946,072,000 after acquiring an additional 1,415,934 shares during the period. Nicola Wealth Management LTD. grew its position in shares of Toronto-Dominion Bank by 15.5% during the fourth quarter. Nicola Wealth Management LTD. now owns 510,002 shares of the bank’s stock worth $27,153,000 after acquiring an additional 68,400 shares during the last quarter. Finally, Hillsdale Investment Management Inc. raised its position in Toronto-Dominion Bank by 608.0% in the 4th quarter. Hillsdale Investment Management Inc. now owns 456,391 shares of the bank’s stock valued at $24,271,000 after purchasing an additional 391,930 shares during the last quarter. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Stock Performance

NYSE TD opened at $60.31 on Monday. The stock has a market capitalization of $105.68 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 1.95 and a beta of 0.83. The business’s 50 day moving average is $58.99 and its two-hundred day moving average is $57.61. The Toronto-Dominion Bank has a 12-month low of $51.25 and a 12-month high of $64.91. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.11.

Toronto-Dominion Bank Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 10th will be issued 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 is presently 85.29%.

Analyst Ratings Changes

Several brokerages have issued reports on TD. Jefferies Financial Group downgraded shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Desjardins cut Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. StockNews.com downgraded Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Monday, February 24th. Royal Bank of Canada dropped their target price on Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating on the stock in a report on Friday, December 6th. Finally, BMO Capital Markets raised Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a report on Thursday, December 19th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average 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.