The Toronto-Dominion Bank (NYSE:TD) Stock Position Lifted by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. lifted its holdings in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 608.0% in the 4th quarter, HoldingsChannel reports. The firm owned 456,391 shares of the bank’s stock after purchasing an additional 391,930 shares during the quarter. Toronto-Dominion Bank makes up 1.2% of Hillsdale Investment Management Inc.’s portfolio, making the stock its 16th largest holding. Hillsdale Investment Management Inc.’s holdings in Toronto-Dominion Bank were worth $24,271,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the business. American Century Companies Inc. boosted its stake in Toronto-Dominion Bank by 7.0% during the fourth quarter. American Century Companies Inc. now owns 334,137 shares of the bank’s stock valued at $17,789,000 after buying an additional 21,927 shares in the last quarter. TD Private Client Wealth LLC boosted its stake in Toronto-Dominion Bank by 321.4% during the fourth quarter. TD Private Client Wealth LLC now owns 1,003 shares of the bank’s stock valued at $53,000 after buying an additional 765 shares in the last quarter. Lee Danner & Bass Inc. bought a new position in Toronto-Dominion Bank during the fourth quarter valued at about $27,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Toronto-Dominion Bank by 1.3% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 290,664 shares of the bank’s stock valued at $15,467,000 after buying an additional 3,600 shares in the last quarter. Finally, Royal London Asset Management Ltd. lifted its holdings in shares of Toronto-Dominion Bank by 0.5% during the fourth quarter. Royal London Asset Management Ltd. now owns 417,319 shares of the bank’s stock valued at $22,218,000 after purchasing an additional 2,120 shares during the last quarter. Institutional investors own 52.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TD shares. Jefferies Financial Group downgraded Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. StockNews.com downgraded Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Monday, February 24th. Desjardins downgraded Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Bank of America raised Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a report on Friday, January 17th. Finally, Royal Bank of Canada reduced their target price on Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating for the company in a report on Friday, December 6th. 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $80.50.

Toronto-Dominion Bank Stock Down 0.7 %

Shares of Toronto-Dominion Bank stock opened at $59.50 on Friday. The stock has a 50-day moving average price of $58.46 and a 200 day moving average price of $57.64. The company has a market cap of $104.25 billion, a P/E ratio of 17.15, a P/E/G ratio of 1.95 and a beta of 0.83. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.11. The Toronto-Dominion Bank has a 1 year low of $51.25 and a 1 year high of $64.91.

Toronto-Dominion Bank Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 10th will be paid a $0.7278 dividend. This represents a $2.91 annualized dividend and a yield of 4.89%. The ex-dividend date is Thursday, April 10th. Toronto-Dominion Bank’s dividend payout ratio is currently 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.