The Toronto-Dominion Bank (NYSE:TD) Holdings Lowered by Cumberland Partners Ltd

Cumberland Partners Ltd cut its stake in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 5.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,151 shares of the bank’s stock after selling 4,400 shares during the period. Cumberland Partners Ltd’s holdings in Toronto-Dominion Bank were worth $3,886,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in TD. CIBC Asset Management Inc raised its holdings in shares of Toronto-Dominion Bank by 0.4% in the 4th quarter. CIBC Asset Management Inc now owns 16,575,599 shares of the bank’s stock worth $882,241,000 after purchasing an additional 59,956 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Toronto-Dominion Bank by 24.9% in the third 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 last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Toronto-Dominion Bank by 2.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 12,186,545 shares of the bank’s stock valued at $770,921,000 after buying an additional 301,649 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Toronto-Dominion Bank by 1.5% during 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 during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Toronto-Dominion Bank by 6.4% during the 3rd quarter. Geode Capital Management LLC now owns 7,962,173 shares of the bank’s stock worth $506,846,000 after acquiring an additional 479,624 shares in the last quarter. Institutional investors and hedge funds own 52.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TD. Jefferies Financial Group downgraded Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Tuesday. Desjardins lowered shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Barclays lowered shares of Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a research note on Thursday, November 21st. Scotiabank cut shares of Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research report on Friday, December 6th. Finally, StockNews.com upgraded Toronto-Dominion Bank from a “sell” rating to a “hold” rating in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $80.50.

Toronto-Dominion Bank Price Performance

Shares of Toronto-Dominion Bank stock opened at $60.13 on Thursday. The stock has a market capitalization of $105.26 billion, a price-to-earnings ratio of 17.33, a P/E/G ratio of 1.94 and a beta of 0.84. The firm’s 50-day moving average price is $55.77 and its two-hundred day moving average price is $57.49. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.11. The Toronto-Dominion Bank has a 1-year low of $51.25 and a 1-year high of $64.91.

Toronto-Dominion Bank Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 10th were paid a $0.7482 dividend. The ex-dividend date was 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 dividend yield of 4.98%. Toronto-Dominion Bank’s payout ratio is currently 84.15%.

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.