The Toronto-Dominion Bank (NYSE:TD) Shares Sold by Powers Advisory Group LLC

Powers Advisory Group LLC trimmed its holdings in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 7.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,753 shares of the bank’s stock after selling 400 shares during the period. Powers Advisory Group LLC’s holdings in Toronto-Dominion Bank were worth $253,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. CIBC Asset Management Inc raised its holdings in shares of Toronto-Dominion Bank by 5.4% during the 3rd quarter. CIBC Asset Management Inc now owns 16,515,643 shares of the bank’s stock valued at $1,046,825,000 after buying an additional 853,313 shares during the period. The Manufacturers Life Insurance Company lifted its position 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 in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Toronto-Dominion Bank by 2.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 12,186,545 shares of the bank’s stock valued at $770,921,000 after purchasing an additional 301,649 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Toronto-Dominion Bank by 1.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,761,308 shares of the bank’s stock valued at $617,166,000 after purchasing an additional 144,427 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Toronto-Dominion Bank by 6.4% during the 3rd quarter. Geode Capital Management LLC now owns 7,962,173 shares of the bank’s stock worth $506,846,000 after buying an additional 479,624 shares during the period. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TD has been the topic of several recent analyst reports. Royal Bank of Canada cut their price target on Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating on the stock in a research note on Friday, December 6th. Jefferies Financial Group upgraded shares of Toronto-Dominion Bank from a “hold” rating to a “buy” rating in a research note on Thursday, December 12th. 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. Desjardins lowered shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Finally, StockNews.com downgraded Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Friday, December 27th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $80.50.

Toronto-Dominion Bank Price Performance

Shares of NYSE:TD opened at $57.32 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.11. The firm has a 50-day simple moving average of $54.65 and a 200 day simple moving average of $57.41. The Toronto-Dominion Bank has a fifty-two week low of $51.25 and a fifty-two week high of $64.91. The company has a market cap of $100.34 billion, a PE ratio of 16.52, a P/E/G ratio of 1.83 and a beta of 0.83.

Toronto-Dominion Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 10th will be given a dividend of $0.7482 per share. This represents a $2.99 dividend on an annualized basis and a dividend yield of 5.22%. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. The ex-dividend date of this dividend is Friday, January 10th. Toronto-Dominion Bank’s dividend payout ratio is presently 83.86%.

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.