Davis R M Inc. Sells 1,200 Shares of The Toronto-Dominion Bank (NYSE:TD)

Davis R M Inc. lowered its holdings in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 13.1% in the 4th quarter, HoldingsChannel reports. The firm owned 7,932 shares of the bank’s stock after selling 1,200 shares during the quarter. Davis R M Inc.’s holdings in Toronto-Dominion Bank were worth $422,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its position in shares of Toronto-Dominion Bank by 24.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,509,261 shares of the bank’s stock worth $854,815,000 after acquiring an additional 2,689,532 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in 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 last quarter. Quadrature Capital Ltd raised its holdings in Toronto-Dominion Bank by 175.5% in the third quarter. Quadrature Capital Ltd now owns 2,467,300 shares of the bank’s stock worth $156,202,000 after purchasing an additional 1,571,700 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec raised its holdings in 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 worth $143,922,000 after purchasing an additional 892,183 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in shares of Toronto-Dominion Bank by 5.4% during the third 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 last quarter. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Price Performance

Shares of TD opened at $57.76 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.03 and a quick ratio of 1.03. The company’s fifty day moving average price is $57.62 and its 200-day moving average price is $57.63. The Toronto-Dominion Bank has a 1-year low of $51.25 and a 1-year high of $64.91. The firm has a market capitalization of $101.20 billion, a PE ratio of 16.64, a price-to-earnings-growth ratio of 1.95 and a beta of 0.83.

Toronto-Dominion Bank Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th will be issued a $0.7278 dividend. This represents a $2.91 dividend on an annualized basis and a dividend yield of 5.04%. The ex-dividend date is Thursday, April 10th. Toronto-Dominion Bank’s dividend payout ratio is presently 85.29%.

Analysts Set New Price Targets

TD has been the topic of a number of analyst reports. Bank of America raised shares of Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a research report on Friday, January 17th. Jefferies Financial Group downgraded Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Scotiabank lowered Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a report on Friday, December 6th. Barclays downgraded Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a research note on Thursday, November 21st. Finally, BMO Capital Markets upgraded Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a research note on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target 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.