Arrowstreet Capital Limited Partnership Cuts Stake in The Toronto-Dominion Bank (NYSE:TD)

Arrowstreet Capital Limited Partnership cut its holdings in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 57.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,528,256 shares of the bank’s stock after selling 2,087,664 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Toronto-Dominion Bank were worth $81,294,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new position in Toronto-Dominion Bank during the 4th quarter worth approximately $992,204,000. Quadrature Capital Ltd grew its holdings in shares of 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 during the last quarter. Vanguard Group Inc. increased its stake in shares of Toronto-Dominion Bank by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 74,118,551 shares of the bank’s stock worth $3,946,072,000 after buying an additional 1,415,934 shares during the period. Guardian Partners Inc. bought a new stake in Toronto-Dominion Bank during the 4th quarter valued at $38,332,000. Finally, Zurich Insurance Group Ltd FI purchased a new stake in Toronto-Dominion Bank during the 3rd quarter valued at $43,257,000. 52.37% of the stock is currently owned by institutional investors.

Toronto-Dominion Bank Price Performance

TD opened at $59.96 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.11. The company has a market cap of $105.06 billion, a price-to-earnings ratio of 17.28, a price-to-earnings-growth ratio of 1.95 and a beta of 0.83. The stock has a fifty day simple moving average of $59.04 and a two-hundred day simple moving average of $57.60. The Toronto-Dominion Bank has a 12-month low of $51.25 and a 12-month high of $64.91.

Toronto-Dominion Bank Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 10th will be paid a $0.7278 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.91 annualized dividend and a dividend yield of 4.86%. Toronto-Dominion Bank’s payout ratio is 85.29%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on TD. Bank of America raised shares of Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a research note on Friday, January 17th. Scotiabank lowered Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research report on Friday, December 6th. BMO Capital Markets upgraded Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Thursday, December 19th. Jefferies Financial Group downgraded Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. Finally, StockNews.com downgraded shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Monday, February 24th. Two 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 stock. Based on data from MarketBeat, Toronto-Dominion Bank 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.