Pinnacle Associates Ltd. lifted its position in shares of The Toronto-Dominion Bank (NYSE:TD – Get Rating) (TSE:TD) by 25.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,270 shares of the bank’s stock after buying an additional 5,650 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Toronto-Dominion Bank were worth $1,924,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Toronto-Dominion Bank by 3.4% during the 3rd quarter. Vanguard Group Inc. now owns 67,240,327 shares of the bank’s stock worth $4,123,850,000 after acquiring an additional 2,238,912 shares in the last quarter. TD Asset Management Inc. boosted its stake in shares of Toronto-Dominion Bank by 0.7% during the third quarter. TD Asset Management Inc. now owns 36,534,597 shares of the bank’s stock valued at $2,263,283,000 after purchasing an additional 245,841 shares in the last quarter. National Bank of Canada FI increased its holdings in Toronto-Dominion Bank by 406.1% during the fourth quarter. National Bank of Canada FI now owns 26,796,674 shares of the bank’s stock valued at $1,734,653,000 after buying an additional 21,501,478 shares during the period. Beutel Goodman & Co Ltd. raised its stake in Toronto-Dominion Bank by 5.9% in the third quarter. Beutel Goodman & Co Ltd. now owns 13,546,200 shares of the bank’s stock worth $837,261,000 after buying an additional 754,071 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Toronto-Dominion Bank by 0.7% during the third quarter. The Manufacturers Life Insurance Company now owns 13,191,055 shares of the bank’s stock worth $816,926,000 after buying an additional 97,866 shares during the period. Hedge funds and other institutional investors own 49.22% of the company’s stock.
Toronto-Dominion Bank Price Performance
Shares of NYSE TD opened at $58.98 on Thursday. The Toronto-Dominion Bank has a fifty-two week low of $55.43 and a fifty-two week high of $79.93. The company has a market cap of $107.94 billion, a PE ratio of 9.32, a P/E/G ratio of 1.17 and a beta of 0.88. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.97 and a current ratio of 0.97. The business has a 50-day simple moving average of $64.12 and a two-hundred day simple moving average of $64.49.
Toronto-Dominion Bank Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 30th. Stockholders of record on Thursday, April 6th will be issued a dividend of $0.721 per share. The ex-dividend date is Wednesday, April 5th. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.71. This represents a $2.88 dividend on an annualized basis and a dividend yield of 4.89%. Toronto-Dominion Bank’s payout ratio is 44.71%.
Wall Street Analyst Weigh In
TD has been the topic of a number of analyst reports. StockNews.com started coverage on Toronto-Dominion Bank in a report on Thursday, March 16th. They issued a “sell” rating on the stock. Desjardins lifted their target price on Toronto-Dominion Bank from C$105.00 to C$106.00 in a research note on Tuesday, February 7th. Finally, Scotiabank raised shares of Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research report on Friday, March 3rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $100.57.
Toronto-Dominion Bank Profile
The Toronto-Dominion Bank engages in the provision of financial products and services. It operates through the following segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The Canadian Retail segment offers various financial products and services, as well as telephone, Internet, and mobile banking services.
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