National Bank of Canada FI Sells 10,788,834 Shares of The Toronto-Dominion Bank (NYSE:TD)

National Bank of Canada FI cut its position in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 27.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 27,918,186 shares of the bank’s stock after selling 10,788,834 shares during the quarter. Toronto-Dominion Bank makes up approximately 2.9% of National Bank of Canada FI’s investment portfolio, making the stock its 4th largest holding. National Bank of Canada FI’s holdings in Toronto-Dominion Bank were worth $1,794,212,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Private Trust Co. NA grew its stake in Toronto-Dominion Bank by 10.6% in the 4th quarter. Private Trust Co. NA now owns 1,808 shares of the bank’s stock valued at $117,000 after buying an additional 174 shares during the last quarter. Stratos Wealth Partners LTD. grew its position in Toronto-Dominion Bank by 0.9% in the 4th quarter. Stratos Wealth Partners LTD. now owns 20,126 shares of the bank’s stock worth $1,301,000 after purchasing an additional 174 shares during the last quarter. Cooper Financial Group grew its position in Toronto-Dominion Bank by 2.4% in the 4th quarter. Cooper Financial Group now owns 8,120 shares of the bank’s stock worth $525,000 after purchasing an additional 188 shares during the last quarter. Costello Asset Management INC grew its position in Toronto-Dominion Bank by 3.3% in the 3rd quarter. Costello Asset Management INC now owns 6,325 shares of the bank’s stock worth $381,000 after purchasing an additional 200 shares during the last quarter. Finally, CENTRAL TRUST Co grew its position in Toronto-Dominion Bank by 1.3% in the 3rd quarter. CENTRAL TRUST Co now owns 15,928 shares of the bank’s stock worth $960,000 after purchasing an additional 207 shares during the last quarter. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on TD. Jefferies Financial Group began coverage on shares of Toronto-Dominion Bank in a research report on Thursday, February 22nd. They issued a “hold” rating on the stock. Scotiabank upgraded shares of Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, April 17th. Finally, Barclays initiated coverage on shares of Toronto-Dominion Bank in a research report on Wednesday, March 20th. They issued an “equal weight” rating on the stock. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $89.33.

Toronto-Dominion Bank Price Performance

Shares of NYSE:TD traded down $3.42 during midday trading on Friday, reaching $54.66. 8,094,543 shares of the company’s stock were exchanged, compared to its average volume of 3,513,261. The company’s 50 day simple moving average is $59.16 and its two-hundred day simple moving average is $60.03. The firm has a market capitalization of $96.38 billion, a PE ratio of 11.68, a price-to-earnings-growth ratio of 1.81 and a beta of 0.85. The Toronto-Dominion Bank has a 12 month low of $54.12 and a 12 month high of $66.15. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.99 and a current ratio of 0.99.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings results on Thursday, February 29th. The bank reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.42 by $0.05. Toronto-Dominion Bank had a net margin of 11.16% and a return on equity of 14.15%. The firm had revenue of $10.07 billion during the quarter, compared to the consensus estimate of $9.35 billion. Equities research analysts expect that The Toronto-Dominion Bank will post 5.79 earnings per share for the current fiscal year.

Toronto-Dominion Bank Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Investors of record on Tuesday, April 9th were issued a dividend of $0.7519 per share. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $0.75. This represents a $3.01 annualized dividend and a yield of 5.50%. The ex-dividend date of this dividend was Monday, April 8th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is currently 30.56%.

Toronto-Dominion Bank Company 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.