Sequoia Financial Advisors LLC Increases Stock Position in The Toronto-Dominion Bank (NYSE:TD)

Sequoia Financial Advisors LLC boosted its stake in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 4.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,910 shares of the bank’s stock after buying an additional 635 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Toronto-Dominion Bank were worth $847,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of TD. The Manufacturers Life Insurance Company boosted its stake in shares of Toronto-Dominion Bank by 24.9% in the third quarter. The Manufacturers Life Insurance Company now owns 13,509,261 shares of the bank’s stock valued at $854,815,000 after purchasing an additional 2,689,532 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Toronto-Dominion Bank by 61.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,011,579 shares of the bank’s stock valued at $380,118,000 after purchasing an additional 2,279,864 shares during the period. Quadrature Capital Ltd boosted its stake in shares of Toronto-Dominion Bank by 175.5% in the third quarter. Quadrature Capital Ltd now owns 2,467,300 shares of the bank’s stock valued at $156,202,000 after purchasing an additional 1,571,700 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of Toronto-Dominion Bank by 64.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,273,520 shares of the bank’s stock valued at $143,922,000 after purchasing an additional 892,183 shares during the period. Finally, Zurich Insurance Group Ltd FI purchased a new position in shares of Toronto-Dominion Bank in the third quarter valued at approximately $43,257,000. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Stock Up 2.2 %

TD stock opened at $58.95 on Monday. 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 twelve month low of $51.25 and a twelve month high of $64.91. The company’s 50 day moving average is $57.92 and its two-hundred day moving average is $57.61. The stock has a market cap of $103.30 billion, a P/E ratio of 16.99, a PEG ratio of 1.95 and a beta of 0.83.

Toronto-Dominion Bank Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 10th will be issued a dividend of $0.7278 per share. The ex-dividend date is Thursday, April 10th. This represents a $2.91 dividend on an annualized basis and a yield of 4.94%. Toronto-Dominion Bank’s payout ratio is currently 85.29%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on TD shares. Barclays cut shares of Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a report on Thursday, November 21st. Desjardins cut shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Jefferies Financial Group cut shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. StockNews.com cut shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Monday, February 24th. Finally, Royal Bank of Canada reduced their target price on shares of Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating on the stock in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $80.50.

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.