Summit Securities Group LLC Trims Holdings in The Toronto-Dominion Bank (NYSE:TD)

Summit Securities Group LLC reduced its stake in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 52.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,300 shares of the bank’s stock after selling 1,410 shares during the quarter. Summit Securities Group LLC’s holdings in Toronto-Dominion Bank were worth $69,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in Toronto-Dominion Bank in the fourth quarter valued at approximately $992,204,000. Quadrature Capital Ltd raised its stake in shares of Toronto-Dominion Bank by 175.5% in the 3rd 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. Vanguard Group Inc. boosted its position in shares of Toronto-Dominion Bank by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 74,118,551 shares of the bank’s stock worth $3,946,072,000 after purchasing an additional 1,415,934 shares during the period. Guardian Partners Inc. acquired a new position in Toronto-Dominion Bank during the fourth quarter worth $38,332,000. Finally, Zurich Insurance Group Ltd FI purchased a new position in shares of Toronto-Dominion Bank during the third quarter worth $43,257,000. 52.37% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TD has been the subject of a number of research analyst reports. Jefferies Financial Group cut Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. Scotiabank lowered shares of Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research note on Friday, December 6th. Royal Bank of Canada reduced their target price on shares of Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating on the stock in a report on Friday, December 6th. BMO Capital Markets raised shares of Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Thursday, December 19th. Finally, StockNews.com lowered Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Monday, February 24th. Two analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $80.50.

Toronto-Dominion Bank Price Performance

Shares of TD opened at $60.31 on Monday. The firm has a market capitalization of $105.68 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 1.95 and a beta of 0.83. The firm’s fifty day simple moving average is $58.99 and its 200-day simple moving average is $57.61. The Toronto-Dominion Bank has a twelve month low of $51.25 and a twelve month high of $64.91. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.11.

Toronto-Dominion Bank Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 10th will be issued a dividend of $0.7278 per share. This represents a $2.91 dividend on an annualized basis and a yield of 4.83%. The ex-dividend date is Thursday, April 10th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is 85.29%.

Toronto-Dominion Bank Company 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.