Philip James Wealth Mangement LLC Purchases New Position in The Toronto-Dominion Bank (NYSE:TD)

Philip James Wealth Mangement LLC purchased a new stake in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) in the fourth quarter, HoldingsChannel reports. The fund purchased 6,162 shares of the bank’s stock, valued at approximately $328,000.

A number of other institutional investors have also recently made changes to their positions in TD. Dunhill Financial LLC lifted its holdings in shares of Toronto-Dominion Bank by 164.9% in the 3rd quarter. Dunhill Financial LLC now owns 400 shares of the bank’s stock valued at $25,000 after acquiring an additional 249 shares during the last quarter. Versant Capital Management Inc lifted its stake in Toronto-Dominion Bank by 40.0% in the fourth quarter. Versant Capital Management Inc now owns 700 shares of the bank’s stock worth $37,000 after purchasing an additional 200 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in Toronto-Dominion Bank in the fourth quarter worth about $58,000. Morse Asset Management Inc bought a new stake in Toronto-Dominion Bank in the third quarter worth about $63,000. Finally, Eastern Bank bought a new stake in Toronto-Dominion Bank in the third quarter worth about $66,000. Institutional investors own 52.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TD shares. Royal Bank of Canada decreased 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. Barclays downgraded shares of Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a research note on Thursday, November 21st. Desjardins downgraded shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. 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. Finally, Jefferies Financial Group raised shares of Toronto-Dominion Bank from a “hold” rating to a “buy” rating in a research report on Thursday, December 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Toronto-Dominion Bank currently has an average rating of “Hold” and an average price target of $80.50.

Toronto-Dominion Bank Stock Performance

Shares of NYSE:TD opened at $59.76 on Monday. The firm has a market cap of $104.62 billion, a PE ratio of 17.22, a price-to-earnings-growth ratio of 1.86 and a beta of 0.84. The firm’s 50 day simple moving average is $55.36 and its 200-day simple moving average is $57.45. 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.

Toronto-Dominion Bank Increases Dividend

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

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.