Pines Wealth Management LLC Invests $274,000 in The Toronto-Dominion Bank (NYSE:TD)

Pines Wealth Management LLC purchased a new stake in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) in the fourth quarter, Holdings Channel.com reports. The fund purchased 5,063 shares of the bank’s stock, valued at approximately $274,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Cerity Partners LLC increased its stake in shares of 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in 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 valued at $617,166,000 after acquiring an additional 144,427 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Toronto-Dominion Bank by 61.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,011,579 shares of the bank’s stock worth $380,118,000 after acquiring an additional 2,279,864 shares during the last quarter. Galibier Capital Management Ltd. grew its stake in shares of Toronto-Dominion Bank by 24.6% during the third quarter. Galibier Capital Management Ltd. now owns 608,613 shares of the bank’s stock valued at $38,527,000 after purchasing an additional 119,978 shares during the last quarter. Finally, Forsta AP Fonden increased its holdings in shares of Toronto-Dominion Bank by 3.2% in the third quarter. Forsta AP Fonden now owns 466,500 shares of the bank’s stock valued at $29,531,000 after purchasing an additional 14,500 shares in the last quarter. Institutional investors and hedge funds own 52.37% of the company’s stock.

Wall Street Analysts Forecast Growth

TD has been the topic of several research reports. Royal Bank of Canada reduced their price objective 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. Scotiabank lowered Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research note on Friday, December 6th. Desjardins lowered Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. BMO Capital Markets upgraded shares of Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Thursday, December 19th. Finally, Jefferies Financial Group upgraded shares of Toronto-Dominion Bank from a “hold” rating to a “buy” rating in a research report on Thursday, December 12th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $80.50.

Toronto-Dominion Bank Stock Performance

Shares of TD stock opened at $55.41 on Thursday. The stock has a market cap of $96.98 billion, a PE ratio of 15.97, a price-to-earnings-growth ratio of 1.69 and a beta of 0.83. The stock has a 50-day moving average of $54.52 and a 200-day moving average of $57.32. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.03 and a quick ratio of 1.02. The Toronto-Dominion Bank has a one year low of $51.25 and a one year high of $64.91.

Toronto-Dominion Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 10th will be issued a $0.7482 dividend. The ex-dividend date is Friday, January 10th. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. This represents a $2.99 annualized dividend and a yield of 5.40%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is 83.86%.

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.