Davis R M Inc. Cuts Position in The Toronto-Dominion Bank (NYSE:TD)

Davis R M Inc. trimmed its position in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 13.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,932 shares of the bank’s stock after selling 1,200 shares during the period. Davis R M Inc.’s holdings in Toronto-Dominion Bank were worth $422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Asahi Life Asset Management CO. LTD. purchased a new position in Toronto-Dominion Bank in the fourth quarter worth about $416,000. Cerity Partners LLC lifted its stake 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 valued at $1,693,000 after purchasing an additional 9,725 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Toronto-Dominion Bank by 1.5% in 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 purchasing an additional 144,427 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Toronto-Dominion Bank by 61.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,011,579 shares of the bank’s stock valued at $380,118,000 after purchasing an additional 2,279,864 shares during the last quarter. Finally, FMR LLC raised its holdings in Toronto-Dominion Bank by 9.9% during the 3rd quarter. FMR LLC now owns 6,553,761 shares of the bank’s stock valued at $414,417,000 after buying an additional 587,947 shares during the period. 52.37% of the stock is currently owned by institutional investors.

Toronto-Dominion Bank Price Performance

Shares of TD stock opened at $57.76 on Wednesday. The company has a market capitalization of $101.20 billion, a P/E ratio of 16.64, a P/E/G ratio of 1.95 and a beta of 0.83. The company’s 50-day simple moving average is $57.62 and its two-hundred day simple moving average is $57.63. The Toronto-Dominion Bank has a one year low of $51.25 and a one year 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 Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 10th will be paid a $0.7278 dividend. The ex-dividend date is Thursday, April 10th. This represents a $2.91 annualized dividend and a yield of 5.04%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is currently 85.29%.

Analyst Upgrades and Downgrades

TD has been the subject of several recent analyst reports. Jefferies Financial Group lowered shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Scotiabank cut shares of Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research note on Friday, December 6th. 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. BMO Capital Markets upgraded Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Thursday, December 19th. Finally, Royal Bank of Canada reduced their price target 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. Two investment 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 company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $80.50.

Toronto-Dominion Bank Company 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.