Van ECK Associates Corp Grows Stake in The Toronto-Dominion Bank (NYSE:TD)

Van ECK Associates Corp lifted its stake in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 20.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 561,482 shares of the bank’s stock after purchasing an additional 96,117 shares during the period. Van ECK Associates Corp’s holdings in Toronto-Dominion Bank were worth $29,866,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of TD. Dunhill Financial LLC increased its stake in shares of Toronto-Dominion Bank by 164.9% during the third quarter. Dunhill Financial LLC now owns 400 shares of the bank’s stock worth $25,000 after purchasing an additional 249 shares in the last quarter. Versant Capital Management Inc boosted its position in Toronto-Dominion Bank by 40.0% during the fourth quarter. Versant Capital Management Inc now owns 700 shares of the bank’s stock worth $37,000 after acquiring an additional 200 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in Toronto-Dominion Bank during the fourth quarter worth about $58,000. Morse Asset Management Inc acquired a new position in Toronto-Dominion Bank during the third quarter worth about $63,000. Finally, Eastern Bank acquired a new position in Toronto-Dominion Bank during the third quarter worth about $66,000. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Stock Performance

Shares of TD stock opened at $59.76 on Friday. The firm’s 50 day moving average price is $55.20 and its 200-day moving average price is $57.44. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.03 and a current ratio of 1.03. The Toronto-Dominion Bank has a one year low of $51.25 and a one year high of $64.91. The firm has a market cap of $104.62 billion, a P/E ratio of 17.22, a P/E/G ratio of 1.86 and a beta of 0.84.

Toronto-Dominion Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 10th were issued a $0.7482 dividend. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. This represents a $2.99 annualized dividend and a dividend yield of 5.01%. The ex-dividend date was Friday, January 10th. Toronto-Dominion Bank’s dividend payout ratio is currently 84.15%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on TD shares. Scotiabank lowered shares of Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research report on Friday, December 6th. BMO Capital Markets upgraded shares of Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Thursday, December 19th. Bank of America upgraded shares of Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a research report on Friday, January 17th. Desjardins lowered shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Finally, Royal Bank of Canada decreased 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. One research analyst has rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target 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.