CIBC Private Wealth Group LLC Grows Stake in The Toronto-Dominion Bank (NYSE:TD)

CIBC Private Wealth Group LLC lifted its stake in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 300.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 12,238 shares of the bank’s stock after acquiring an additional 9,183 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Toronto-Dominion Bank were worth $663,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Dunhill Financial LLC grew its position in Toronto-Dominion Bank by 164.9% in the third quarter. Dunhill Financial LLC now owns 400 shares of the bank’s stock valued at $25,000 after acquiring an additional 249 shares in the last quarter. Lee Danner & Bass Inc. acquired a new stake in Toronto-Dominion Bank during the 4th quarter valued at $27,000. Bank of Jackson Hole Trust purchased a new stake in Toronto-Dominion Bank during the 4th quarter worth $32,000. Versant Capital Management Inc boosted its position in Toronto-Dominion Bank by 40.0% in the 4th quarter. Versant Capital Management Inc now owns 700 shares of the bank’s stock valued at $37,000 after buying an additional 200 shares during the last quarter. Finally, Murphy & Mullick Capital Management Corp acquired a new stake in shares of Toronto-Dominion Bank during the fourth quarter valued at about $39,000. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Toronto-Dominion Bank Stock Performance

Toronto-Dominion Bank stock opened at $57.10 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.03 and a quick ratio of 1.03. The Toronto-Dominion Bank has a 12 month low of $51.25 and a 12 month high of $64.91. The company has a fifty day moving average price of $59.17 and a two-hundred day moving average price of $57.56. The company has a market cap of $100.06 billion, a PE ratio of 16.46, a P/E/G ratio of 1.95 and a beta of 0.73.

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 given a dividend of $0.7278 per share. This represents a $2.91 dividend on an annualized basis and a dividend yield of 5.10%. The ex-dividend date of this dividend is Thursday, April 10th. Toronto-Dominion Bank’s dividend payout ratio is presently 85.29%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Bank of America upgraded Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a research note on Friday, January 17th. StockNews.com cut 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 price target 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. Jefferies Financial Group downgraded shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Finally, Scotiabank downgraded shares of Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Toronto-Dominion Bank presently has a consensus rating of “Hold” and an average price target 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.