Stonebridge Capital Advisors LLC cut its holdings in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 10.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 25,490 shares of the bank’s stock after selling 2,975 shares during the quarter. Stonebridge Capital Advisors LLC’s holdings in Toronto Dominion Bank were worth $1,434,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Parallel Advisors LLC boosted its stake in Toronto Dominion Bank by 10.0% during the second quarter. Parallel Advisors LLC now owns 2,151 shares of the bank’s stock worth $111,000 after buying an additional 196 shares during the period. Advisory Services Network LLC boosted its stake in Toronto Dominion Bank by 26.1% during the second quarter. Advisory Services Network LLC now owns 2,353 shares of the bank’s stock worth $119,000 after buying an additional 487 shares during the period. Ropes Wealth Advisors LLC boosted its stake in Toronto Dominion Bank by 18.8% during the second quarter. Ropes Wealth Advisors LLC now owns 2,376 shares of the bank’s stock worth $120,000 after buying an additional 376 shares during the period. Teachers Advisors LLC boosted its stake in Toronto Dominion Bank by 3.7% during the second quarter. Teachers Advisors LLC now owns 2,556 shares of the bank’s stock worth $129,000 after buying an additional 92 shares during the period. Finally, Proficio Capital Partners LLC boosted its stake in Toronto Dominion Bank by 31.8% during the second quarter. Proficio Capital Partners LLC now owns 2,752 shares of the bank’s stock worth $141,000 after buying an additional 664 shares during the period. 48.82% of the stock is owned by hedge funds and other institutional investors.
Several research firms have commented on TD. Zacks Investment Research lowered shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research note on Saturday, December 2nd. BidaskClub lowered shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research note on Thursday, August 17th. Canaccord Genuity reissued a “buy” rating and set a $80.00 target price on shares of Toronto Dominion Bank in a research note on Thursday, November 30th. Scotiabank raised shares of Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research note on Monday, August 21st. Finally, Howard Weil raised shares of Toronto Dominion Bank to an “outperform” rating in a research note on Monday, August 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $72.50.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 10th will be paid a dividend of $0.466 per share. This represents a $1.86 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend is Tuesday, January 9th. Toronto Dominion Bank’s dividend payout ratio is currently 44.18%.
Toronto Dominion Bank announced that its Board of Directors has initiated a share buyback plan on Thursday, August 31st that authorizes the company to buyback 20,000,000 shares. This buyback authorization authorizes the bank to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
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About Toronto Dominion Bank
Toronto-Dominion Bank (the Bank) is a Canada-based bank, which operates in the North America. It is an online financial services firm, with over 10.2 million online and mobile customers. Its segments include Canadian Retail, U.S. Retail, Wholesale Banking and Corporate. The Canadian Retail segment provides a range of financial products and services to customers in the Canadian personal and commercial banking businesses.
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