Arrowstreet Capital Limited Partnership Reduces Stake in The Toronto-Dominion Bank (NYSE:TD)

Arrowstreet Capital Limited Partnership lowered its stake in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 57.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,528,256 shares of the bank’s stock after selling 2,087,664 shares during the period. Arrowstreet Capital Limited Partnership owned 0.09% of Toronto-Dominion Bank worth $81,294,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of TD. Dunhill Financial LLC lifted its holdings in Toronto-Dominion Bank by 164.9% during the third quarter. Dunhill Financial LLC now owns 400 shares of the bank’s stock valued at $25,000 after purchasing an additional 249 shares during the last quarter. Lee Danner & Bass Inc. purchased a new stake in shares of Toronto-Dominion Bank during the 4th quarter valued at approximately $27,000. Bank of Jackson Hole Trust purchased a new stake in shares of Toronto-Dominion Bank during the 4th quarter valued at approximately $32,000. Versant Capital Management Inc grew its stake in Toronto-Dominion Bank by 40.0% in the 4th quarter. Versant Capital Management Inc now owns 700 shares of the bank’s stock valued at $37,000 after buying an additional 200 shares in the last quarter. Finally, Murphy & Mullick Capital Management Corp bought a new stake in Toronto-Dominion Bank during the 4th quarter valued at $39,000. Institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Trading Down 0.6 %

Shares of Toronto-Dominion Bank stock opened at $59.96 on Tuesday. The company has a 50 day simple moving average of $59.04 and a two-hundred day simple moving average of $57.60. The firm has a market cap of $105.06 billion, a PE ratio of 17.28, a PEG ratio of 1.95 and a beta of 0.83. The Toronto-Dominion Bank has a 1 year low of $51.25 and a 1 year 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 10th will be given a $0.7278 dividend. The ex-dividend date is Thursday, April 10th. This represents a $2.91 annualized dividend and a yield of 4.86%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 85.29%.

Analyst Ratings Changes

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

Toronto-Dominion Bank 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.