Benjamin Edwards Inc. Reduces Stake in The Toronto-Dominion Bank (NYSE:TD)

Benjamin Edwards Inc. trimmed its stake in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 33.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,070 shares of the bank’s stock after selling 2,047 shares during the quarter. Benjamin Edwards Inc.’s holdings in Toronto-Dominion Bank were worth $217,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TD. Norges Bank purchased a new position in Toronto-Dominion Bank in the fourth quarter valued at about $992,204,000. FIL Ltd lifted its stake in shares of Toronto-Dominion Bank by 17.3% during the 4th quarter. FIL Ltd now owns 38,989,749 shares of the bank’s stock valued at $2,075,819,000 after buying an additional 5,756,584 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Toronto-Dominion Bank by 32.2% during the 4th quarter. Geode Capital Management LLC now owns 10,526,821 shares of the bank’s stock valued at $569,878,000 after buying an additional 2,564,648 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Toronto-Dominion Bank by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 74,118,551 shares of the bank’s stock valued at $3,946,072,000 after buying an additional 1,415,934 shares in the last quarter. Finally, Guardian Partners Inc. purchased a new stake in shares of Toronto-Dominion Bank during the 4th quarter valued at approximately $38,332,000. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Toronto-Dominion Bank Stock Performance

NYSE TD opened at $63.19 on Monday. The Toronto-Dominion Bank has a 1 year low of $51.25 and a 1 year high of $64.91. 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 stock has a market capitalization of $109.69 billion, a PE ratio of 18.21, a P/E/G ratio of 1.95 and a beta of 0.81. The company’s 50 day simple moving average is $60.17 and its two-hundred day simple moving average is $57.52.

Toronto-Dominion Bank Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th were given a dividend of $0.7278 per share. This represents a $2.91 annualized dividend and a dividend yield of 4.61%. The ex-dividend date was Thursday, April 10th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is currently 85.59%.

Analyst Ratings Changes

A number of analysts recently commented on TD shares. Bank of America upgraded shares of Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a research note on Friday, January 17th. Jefferies Financial Group cut shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research note on Tuesday, February 18th. Finally, StockNews.com cut shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Monday, February 24th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus 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.