William Blair Investment Management LLC lowered its stake in The Toronto-Dominion Bank (NYSE:TD – Free Report) (TSE:TD) by 22.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 2,901,009 shares of the bank’s stock after selling 828,187 shares during the period. William Blair Investment Management LLC’s holdings in Toronto-Dominion Bank were worth $173,751,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the business. FIL Ltd lifted its holdings in shares of Toronto-Dominion Bank by 3.8% in the 1st quarter. FIL Ltd now owns 33,381,437 shares of the bank’s stock worth $1,999,428,000 after purchasing an additional 1,221,884 shares in the last quarter. Bank of Nova Scotia increased its position in shares of Toronto-Dominion Bank by 5.6% during the fourth quarter. Bank of Nova Scotia now owns 30,819,858 shares of the bank’s stock valued at $1,995,552,000 after acquiring an additional 1,633,502 shares during the last quarter. National Bank of Canada FI boosted its position in Toronto-Dominion Bank by 14.9% in the first quarter. National Bank of Canada FI now owns 30,793,768 shares of the bank’s stock worth $1,842,844,000 after purchasing an additional 3,997,094 shares during the last quarter. Mackenzie Financial Corp grew its stake in Toronto-Dominion Bank by 2.2% in the 1st quarter. Mackenzie Financial Corp now owns 29,480,283 shares of the bank’s stock valued at $1,765,633,000 after purchasing an additional 644,627 shares during the period. Finally, 1832 Asset Management L.P. raised its stake in shares of Toronto-Dominion Bank by 2.0% during the 4th quarter. 1832 Asset Management L.P. now owns 23,907,865 shares of the bank’s stock worth $1,548,273,000 after purchasing an additional 468,658 shares during the period. Institutional investors and hedge funds own 51.52% of the company’s stock.
Wall Street Analyst Weigh In
TD has been the subject of several research reports. Credit Suisse Group reduced their price target on shares of Toronto-Dominion Bank from $93.00 to $92.00 and set an “outperform” rating for the company in a research report on Friday, August 25th. Royal Bank of Canada lowered their price target on shares of Toronto-Dominion Bank from $96.00 to $94.00 and set an “outperform” rating on the stock in a report on Friday, August 25th. Barclays decreased their target price on Toronto-Dominion Bank from $84.00 to $82.00 and set an “equal weight” rating for the company in a research report on Friday, August 25th. Finally, StockNews.com cut Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Monday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Toronto-Dominion Bank currently has a consensus rating of “Moderate Buy” and a consensus price target of $97.71.
Toronto-Dominion Bank Trading Up 0.6 %
TD traded up $0.37 during midday trading on Wednesday, reaching $61.76. 917,097 shares of the company’s stock traded hands, compared to its average volume of 2,294,785. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.00 and a quick ratio of 1.00. The Toronto-Dominion Bank has a 52 week low of $55.43 and a 52 week high of $70.67. The stock has a market capitalization of $112.86 billion, a price-to-earnings ratio of 10.73, a P/E/G ratio of 2.02 and a beta of 0.90. The firm has a fifty day moving average of $62.74 and a two-hundred day moving average of $61.68.
Toronto-Dominion Bank Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, October 6th will be issued a $0.725 dividend. The ex-dividend date is Thursday, October 5th. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.71. This represents a $2.90 annualized dividend and a yield of 4.70%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is 50.09%.
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 three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The company offers personal deposits, such as chequing, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; and financing options to customers at point of sale for automotive and recreational vehicle purchases.
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