Te Ahumairangi Investment Management Ltd Has $3.38 Million Stock Holdings in The Toronto-Dominion Bank (NYSE:TD)

Te Ahumairangi Investment Management Ltd raised its holdings in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 21.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 63,581 shares of the bank’s stock after buying an additional 11,100 shares during the quarter. Te Ahumairangi Investment Management Ltd’s holdings in Toronto-Dominion Bank were worth $3,383,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Dunhill Financial LLC grew its stake in shares of Toronto-Dominion Bank by 164.9% in the third quarter. Dunhill Financial LLC now owns 400 shares of the bank’s stock worth $25,000 after acquiring an additional 249 shares during the last quarter. Lee Danner & Bass Inc. bought a new stake in Toronto-Dominion Bank in the 4th quarter valued at $27,000. Bank of Jackson Hole Trust acquired a new stake in Toronto-Dominion Bank in the 4th quarter worth $32,000. Versant Capital Management Inc increased its holdings in shares of Toronto-Dominion Bank by 40.0% during the 4th quarter. Versant Capital Management Inc now owns 700 shares of the bank’s stock worth $37,000 after purchasing an additional 200 shares during the period. Finally, Murphy & Mullick Capital Management Corp acquired a new position in shares of Toronto-Dominion Bank during the fourth quarter valued at about $39,000. 52.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TD. Royal Bank of Canada decreased their target price 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. Desjardins cut Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Scotiabank cut Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research report on Friday, December 6th. StockNews.com downgraded shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Monday, February 24th. Finally, Bank of America upgraded shares of Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a research note on Friday, January 17th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $80.50.

Toronto-Dominion Bank Stock Performance

Toronto-Dominion Bank stock opened at $59.34 on Wednesday. The firm has a market capitalization of $103.99 billion, a P/E ratio of 17.10, a P/E/G ratio of 1.95 and a beta of 0.83. The stock has a fifty day moving average price of $59.08 and a two-hundred day moving average price of $57.58. The Toronto-Dominion Bank has a 52-week low of $51.25 and a 52-week high of $64.91. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.03 and a quick ratio of 1.03.

Toronto-Dominion Bank Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.7278 per share. The ex-dividend date is Thursday, April 10th. This represents a $2.91 annualized dividend and a yield of 4.91%. Toronto-Dominion Bank’s dividend payout ratio is 85.29%.

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.