Gradient Investments LLC Cuts Holdings in The Toronto-Dominion Bank (NYSE:TD)

Gradient Investments LLC trimmed its holdings in shares of The Toronto-Dominion Bank (NYSE:TD – Get Rating) (TSE:TD) by 3.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,174 shares of the bank’s stock after selling 220 shares during the period. Gradient Investments LLC’s holdings in Toronto-Dominion Bank were worth $400,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Financial Management Professionals Inc. raised its stake in shares of Toronto-Dominion Bank by 75.1% during the 3rd quarter. Financial Management Professionals Inc. now owns 408 shares of the bank’s stock worth $25,000 after buying an additional 175 shares in the last quarter. Fairfield Bush & CO. purchased a new position in Toronto-Dominion Bank in the 1st quarter valued at approximately $26,000. Massmutual Trust Co. FSB ADV increased its stake in Toronto-Dominion Bank by 130.6% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 747 shares of the bank’s stock valued at $46,000 after purchasing an additional 423 shares in the last quarter. Capital Analysts LLC increased its stake in Toronto-Dominion Bank by 30.5% in the 2nd quarter. Capital Analysts LLC now owns 783 shares of the bank’s stock valued at $51,000 after purchasing an additional 183 shares in the last quarter. Finally, Hexagon Capital Partners LLC increased its stake in Toronto-Dominion Bank by 149.3% in the 3rd quarter. Hexagon Capital Partners LLC now owns 875 shares of the bank’s stock valued at $54,000 after purchasing an additional 524 shares in the last quarter. 49.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on TD shares. Scotiabank raised Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research note on Friday, March 3rd. Desjardins raised their price target on Toronto-Dominion Bank from C$105.00 to C$106.00 in a research report on Tuesday, February 7th. StockNews.com started coverage on Toronto-Dominion Bank in a research report on Thursday. They set a “sell” rating for the company. Canaccord Genuity Group raised Toronto-Dominion Bank from a “hold” rating to a “buy” rating and raised their price target for the stock from C$95.00 to C$103.00 in a research report on Monday, December 5th. Finally, Canaccord Genuity Group raised Toronto-Dominion Bank from a “hold” rating to a “buy” rating in a research report on Friday, December 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $100.57.

Toronto-Dominion Bank Price Performance

TD stock opened at $56.72 on Friday. The Toronto-Dominion Bank has a 52-week low of $56.36 and a 52-week high of $82.64. The stock’s fifty day simple moving average is $66.09 and its 200-day simple moving average is $65.15. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $103.80 billion, a price-to-earnings ratio of 8.96, a price-to-earnings-growth ratio of 1.09 and a beta of 0.90.

Toronto-Dominion Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, April 30th. Stockholders of record on Thursday, April 6th will be issued a dividend of $0.721 per share. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $0.71. The ex-dividend date is Wednesday, April 5th. This represents a $2.88 annualized dividend and a dividend yield of 5.08%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is 44.71%.

Toronto-Dominion Bank Company Profile

(Get Rating)

The Toronto-Dominion Bank engages in the provision of financial products and services. It operates through the following segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The Canadian Retail segment offers various financial products and services, as well as telephone, Internet, and mobile banking services.