The Toronto-Dominion Bank (NYSE:TD) Shares Bought by Lorne Steinberg Wealth Management Inc.

Lorne Steinberg Wealth Management Inc. raised its holdings in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 5.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,442 shares of the bank’s stock after buying an additional 8,074 shares during the period. Toronto-Dominion Bank comprises about 2.3% of Lorne Steinberg Wealth Management Inc.’s holdings, making the stock its 17th largest position. Lorne Steinberg Wealth Management Inc.’s holdings in Toronto-Dominion Bank were worth $7,842,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. The Manufacturers Life Insurance Company grew its holdings in shares of Toronto-Dominion Bank by 24.9% during the third quarter. The Manufacturers Life Insurance Company now owns 13,509,261 shares of the bank’s stock worth $854,815,000 after purchasing an additional 2,689,532 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Toronto-Dominion Bank by 61.1% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,011,579 shares of the bank’s stock worth $380,118,000 after purchasing an additional 2,279,864 shares during the last quarter. Quadrature Capital Ltd grew its holdings in shares of Toronto-Dominion Bank by 175.5% during the third quarter. Quadrature Capital Ltd now owns 2,467,300 shares of the bank’s stock worth $156,202,000 after purchasing an additional 1,571,700 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Toronto-Dominion Bank by 64.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,273,520 shares of the bank’s stock worth $143,922,000 after purchasing an additional 892,183 shares during the last quarter. Finally, CIBC Asset Management Inc grew its holdings in shares of Toronto-Dominion Bank by 5.4% during the third quarter. CIBC Asset Management Inc now owns 16,515,643 shares of the bank’s stock worth $1,046,825,000 after purchasing an additional 853,313 shares during the last quarter. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TD has been the topic of several research reports. Scotiabank lowered Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a report on Friday, December 6th. Jefferies Financial Group lowered Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Tuesday. StockNews.com raised Toronto-Dominion Bank from a “sell” rating to a “hold” rating in a report on Wednesday, February 5th. BMO Capital Markets raised Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a report on Thursday, December 19th. Finally, Desjardins lowered Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $80.50.

Toronto-Dominion Bank Price Performance

Shares of TD opened at $59.96 on Wednesday. The Toronto-Dominion Bank has a twelve month low of $51.25 and a twelve month high of $64.91. The stock’s 50 day moving average is $55.63 and its two-hundred day moving average is $57.47. The firm has a market capitalization of $104.95 billion, a PE ratio of 17.28, a P/E/G ratio of 1.92 and a beta of 0.84. 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 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 10th were issued a $0.7482 dividend. This represents a $2.99 dividend on an annualized basis and a yield of 4.99%. The ex-dividend date was Friday, January 10th. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. Toronto-Dominion Bank’s payout ratio is currently 84.15%.

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.