Orion Portfolio Solutions LLC Increases Stake in The Toronto-Dominion Bank (NYSE:TD)

Orion Portfolio Solutions LLC lifted its position in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 69.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,863 shares of the bank’s stock after purchasing an additional 8,152 shares during the period. Orion Portfolio Solutions LLC’s holdings in Toronto-Dominion Bank were worth $1,257,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of TD. Blue Trust Inc. increased its stake in shares of Toronto-Dominion Bank by 50.7% in the second quarter. Blue Trust Inc. now owns 630 shares of the bank’s stock worth $38,000 after purchasing an additional 212 shares in the last quarter. Kimelman & Baird LLC purchased a new stake in shares of Toronto-Dominion Bank in the second quarter worth $49,000. Morse Asset Management Inc bought a new position in shares of Toronto-Dominion Bank during the third quarter worth $63,000. Eastern Bank bought a new position in shares of Toronto-Dominion Bank during the third quarter worth $66,000. Finally, Hexagon Capital Partners LLC boosted its position in shares of Toronto-Dominion Bank by 18.5% during the third quarter. Hexagon Capital Partners LLC now owns 1,337 shares of the bank’s stock worth $85,000 after acquiring an additional 209 shares during the last quarter. 52.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada dropped their target price on shares of Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating for the company in a research report on Friday, December 6th. Jefferies Financial Group upgraded shares of Toronto-Dominion Bank from a “hold” rating to a “buy” rating in a research report on Thursday. Scotiabank lowered shares of Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research report on Friday, December 6th. StockNews.com upgraded shares of Toronto-Dominion Bank from a “sell” rating to a “hold” rating in a research report on Monday, December 9th. Finally, Barclays lowered shares of Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a research report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $80.50.

Toronto-Dominion Bank Price Performance

TD stock opened at $53.25 on Friday. The Toronto-Dominion Bank has a 52 week low of $51.74 and a 52 week high of $65.12. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.11. The company has a fifty day simple moving average of $56.29 and a two-hundred day simple moving average of $57.55. The firm has a market capitalization of $93.20 billion, a P/E ratio of 15.35, a price-to-earnings-growth ratio of 1.70 and a beta of 0.82.

Toronto-Dominion Bank Increases Dividend

The firm also recently disclosed 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 represents a $2.99 annualized dividend and a yield of 5.62%. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. Toronto-Dominion Bank’s dividend payout ratio (DPR) is 89.34%.

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.