Clearbridge Investments LLC Sells 71,186 Shares of The Toronto-Dominion Bank (NYSE:TD)

Clearbridge Investments LLC decreased its position in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 2.1% during the fourth quarter, HoldingsChannel reports. The fund owned 3,254,825 shares of the bank’s stock after selling 71,186 shares during the quarter. Clearbridge Investments LLC’s holdings in Toronto-Dominion Bank were worth $173,287,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Cerity Partners LLC grew its holdings in Toronto-Dominion Bank by 57.1% during 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. D.A. Davidson & CO. raised its holdings in shares of Toronto-Dominion Bank by 2.6% in the third quarter. D.A. Davidson & CO. now owns 11,904 shares of the bank’s stock worth $753,000 after buying an additional 304 shares during the period. Townsquare Capital LLC purchased a new stake in shares of Toronto-Dominion Bank in the third quarter worth approximately $612,000. Glenmede Trust Co. NA lifted its stake in shares of Toronto-Dominion Bank by 13.3% during the 3rd quarter. Glenmede Trust Co. NA now owns 10,181 shares of the bank’s stock worth $644,000 after acquiring an additional 1,195 shares during the last quarter. Finally, CreativeOne Wealth LLC purchased a new position in Toronto-Dominion Bank during the 3rd quarter valued at $227,000. Institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Trading Down 1.1 %

Shares of NYSE:TD opened at $60.31 on Monday. The business’s fifty day simple moving average is $58.99 and its 200-day simple 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. The company has a market capitalization of $105.68 billion, a PE ratio of 17.38, a P/E/G ratio of 1.95 and a beta of 0.83.

Toronto-Dominion Bank Cuts Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.83%. The ex-dividend date of this dividend is Thursday, April 10th. Toronto-Dominion Bank’s payout ratio is currently 85.29%.

Analyst Ratings Changes

A number of brokerages recently weighed in on TD. Desjardins lowered shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Bank of America upgraded Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a report on Friday, January 17th. Royal Bank of Canada dropped their price objective on Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating on the stock in a research note on Friday, December 6th. Scotiabank lowered Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research report on Friday, December 6th. Finally, StockNews.com downgraded Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Monday, February 24th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, two 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 stock currently has a consensus 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.