Korea Investment CORP Sells 167,771 Shares of The Toronto-Dominion Bank (NYSE:TD)

Korea Investment CORP reduced its stake in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 12.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,162,597 shares of the bank’s stock after selling 167,771 shares during the period. Korea Investment CORP owned approximately 0.07% of Toronto-Dominion Bank worth $61,865,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of TD. Dunhill Financial LLC raised its stake in Toronto-Dominion Bank by 164.9% during the third quarter. Dunhill Financial LLC now owns 400 shares of the bank’s stock worth $25,000 after acquiring an additional 249 shares in the last quarter. Lee Danner & Bass Inc. bought a new stake in Toronto-Dominion Bank during the fourth quarter worth about $27,000. Bank of Jackson Hole Trust acquired a new stake in shares of Toronto-Dominion Bank during the fourth quarter worth approximately $32,000. Versant Capital Management Inc raised its stake in shares of Toronto-Dominion Bank by 40.0% in the fourth quarter. Versant Capital Management Inc now owns 700 shares of the bank’s stock valued at $37,000 after acquiring an additional 200 shares during the last quarter. Finally, Murphy & Mullick Capital Management Corp bought a new position in Toronto-Dominion Bank in the 4th quarter valued at $39,000. 52.37% of the stock is owned by institutional investors and hedge funds.

Toronto-Dominion Bank Stock Down 0.2 %

NYSE:TD opened at $61.00 on Friday. The stock’s fifty day simple moving average is $58.94 and its 200-day simple moving average is $57.67. The firm has a market capitalization of $106.89 billion, a P/E ratio of 17.58, a P/E/G ratio of 1.95 and a beta of 0.83. 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.

Toronto-Dominion Bank Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th will be given a dividend of $0.7278 per share. The ex-dividend date is Thursday, April 10th. This represents a $2.91 annualized dividend and a dividend yield of 4.77%. Toronto-Dominion Bank’s payout ratio is currently 85.29%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. StockNews.com lowered Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Monday, February 24th. Royal Bank of Canada decreased their price objective on Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating on the stock in a research report on Friday, December 6th. Bank of America upgraded Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a research report on Friday, January 17th. Jefferies Financial Group cut Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. Finally, BMO Capital Markets raised Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a report on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price 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.