Mystic Asset Management Inc. Invests $422,000 in The Toronto-Dominion Bank (NYSE:TD)

Mystic Asset Management Inc. purchased a new position in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,925 shares of the bank’s stock, valued at approximately $422,000.

Other hedge funds have also made changes to their positions in the company. Dunhill Financial LLC lifted its stake in 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 during the last quarter. Bank of Jackson Hole Trust bought a new position in Toronto-Dominion Bank during the fourth quarter worth $32,000. Versant Capital Management Inc lifted its stake 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 purchasing an additional 200 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in Toronto-Dominion Bank during the fourth quarter worth $51,000. Finally, Morse Asset Management Inc bought a new position in Toronto-Dominion Bank during the third quarter worth $63,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

Toronto-Dominion Bank Price Performance

Shares of NYSE TD opened at $59.67 on Wednesday. The Toronto-Dominion Bank has a fifty-two week low of $51.25 and a fifty-two week high of $64.91. The firm’s 50-day simple moving average is $58.12 and its 200 day simple moving average is $57.61. 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 stock has a market cap of $104.55 billion, a P/E ratio of 17.20, a P/E/G 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. Investors of record on Thursday, April 10th will be paid a dividend of $0.7278 per share. This represents a $2.91 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date of this dividend is Thursday, April 10th. Toronto-Dominion Bank’s dividend payout ratio is currently 85.29%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on TD shares. Barclays cut Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a research note on Thursday, November 21st. StockNews.com cut Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Monday, February 24th. Royal Bank of Canada cut their target price 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. Scotiabank cut Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research note on Friday, December 6th. Finally, Jefferies Financial Group cut Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Toronto-Dominion Bank presently has a consensus 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.