Avanza Fonder AB Makes New $6.42 Million Investment in The Toronto-Dominion Bank (NYSE:TD)

Avanza Fonder AB purchased a new position in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 120,513 shares of the bank’s stock, valued at approximately $6,416,000.

A number of other institutional investors have also modified their holdings of the company. The Manufacturers Life Insurance Company lifted its position in shares of Toronto-Dominion Bank by 24.9% during the third quarter. The Manufacturers Life Insurance Company now owns 13,509,261 shares of the bank’s stock worth $854,815,000 after purchasing an additional 2,689,532 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Toronto-Dominion Bank by 61.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,011,579 shares of the bank’s stock worth $380,118,000 after buying an additional 2,279,864 shares during the period. Quadrature Capital Ltd lifted its holdings in Toronto-Dominion Bank by 175.5% during the 3rd quarter. Quadrature Capital Ltd now owns 2,467,300 shares of the bank’s stock worth $156,202,000 after buying an additional 1,571,700 shares in the last quarter. 1832 Asset Management L.P. boosted its position in Toronto-Dominion Bank by 6.0% in the 2nd quarter. 1832 Asset Management L.P. now owns 25,803,480 shares of the bank’s stock valued at $1,418,159,000 after buying an additional 1,462,794 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Toronto-Dominion Bank by 9.6% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 13,814,269 shares of the bank’s stock worth $759,449,000 after acquiring an additional 1,206,574 shares in the last quarter. 52.37% of the stock is owned by institutional investors and hedge funds.

Toronto-Dominion Bank Stock Up 0.9 %

TD stock opened at $55.82 on Friday. The stock has a market capitalization of $97.70 billion, a PE ratio of 16.17, a price-to-earnings-growth ratio of 1.72 and a beta of 0.83. The company has a fifty day moving average of $54.50 and a 200-day moving average of $57.31. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.03 and a current ratio of 1.03. 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 firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 10th will be issued a $0.7482 dividend. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. This represents a $2.99 annualized dividend and a dividend yield of 5.36%. The ex-dividend date of this dividend is Friday, January 10th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is currently 87.03%.

Analyst Ratings Changes

A number of research analysts recently issued reports on TD shares. Scotiabank lowered Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a report on Friday, December 6th. BMO Capital Markets upgraded Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a research note on Thursday, December 19th. Jefferies Financial Group upgraded shares of Toronto-Dominion Bank from a “hold” rating to a “buy” rating in a research note on Thursday, December 12th. Desjardins cut shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Finally, StockNews.com cut shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Friday, December 27th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $80.50.

Toronto-Dominion Bank 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.