Parsons Capital Management Inc. RI Sells 5,232 Shares of The Toronto-Dominion Bank (NYSE:TD)

Parsons Capital Management Inc. RI lessened its holdings in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 41.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,423 shares of the bank’s stock after selling 5,232 shares during the period. Parsons Capital Management Inc. RI’s holdings in Toronto-Dominion Bank were worth $395,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its position in shares of Toronto-Dominion Bank by 24.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,509,261 shares of the bank’s stock worth $854,815,000 after buying an additional 2,689,532 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Toronto-Dominion Bank by 61.1% during 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 in the last quarter. Quadrature Capital Ltd lifted its holdings in shares of Toronto-Dominion Bank by 175.5% during the third quarter. Quadrature Capital Ltd now owns 2,467,300 shares of the bank’s stock valued at $156,202,000 after acquiring an additional 1,571,700 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Toronto-Dominion Bank by 64.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,273,520 shares of the bank’s stock valued at $143,922,000 after purchasing an additional 892,183 shares in the last quarter. Finally, CIBC Asset Management Inc grew its holdings in shares of Toronto-Dominion Bank by 5.4% in the 3rd quarter. CIBC Asset Management Inc now owns 16,515,643 shares of the bank’s stock worth $1,046,825,000 after purchasing an additional 853,313 shares during the last quarter. Institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Trading Down 0.3 %

Shares of TD opened at $57.35 on Wednesday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.11. The Toronto-Dominion Bank has a 12-month low of $51.25 and a 12-month high of $64.91. The firm has a market capitalization of $100.38 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 1.82 and a beta of 0.83. The stock’s fifty day simple moving average is $54.59 and its 200-day simple moving average is $57.40.

Toronto-Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 10th will be given a dividend of $0.7482 per share. The ex-dividend date of this dividend is Friday, January 10th. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. This represents a $2.99 dividend on an annualized basis and a yield of 5.22%. Toronto-Dominion Bank’s dividend payout ratio is presently 84.15%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Bank of America upgraded shares of Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a research report on Friday, January 17th. Desjardins downgraded Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Jefferies Financial Group raised Toronto-Dominion Bank from a “hold” rating to a “buy” rating in a report on Thursday, December 12th. BMO Capital Markets raised Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a research note on Thursday, December 19th. Finally, StockNews.com lowered Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Friday, December 27th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Toronto-Dominion Bank currently has an average rating of “Hold” and a consensus 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.