Northern Trust Corp Boosts Position in The Toronto-Dominion Bank (NYSE:TD)

Northern Trust Corp raised its stake in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 36.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,142,569 shares of the bank’s stock after buying an additional 303,836 shares during the period. Northern Trust Corp’s holdings in Toronto-Dominion Bank were worth $60,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings 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 valued at $3,946,072,000 after purchasing an additional 1,415,934 shares during the period. FIL Ltd raised its position in 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 purchasing an additional 5,756,584 shares in the last quarter. Norges Bank bought a new stake in Toronto-Dominion Bank during the 4th quarter valued at $992,204,000. Beutel Goodman & Co Ltd. lifted its holdings in shares of Toronto-Dominion Bank by 3.8% in the 4th quarter. Beutel Goodman & Co Ltd. now owns 16,803,807 shares of the bank’s stock worth $894,169,000 after buying an additional 622,736 shares during the period. Finally, CIBC Asset Management Inc grew its position in shares of Toronto-Dominion Bank by 0.4% during the 4th quarter. CIBC Asset Management Inc now owns 16,575,599 shares of the bank’s stock worth $882,241,000 after buying an additional 59,956 shares in the last quarter. 52.37% of the stock is currently owned by institutional investors.

Toronto-Dominion Bank Stock Performance

Shares of Toronto-Dominion Bank stock opened at $63.49 on Wednesday. The company has a market capitalization of $110.21 billion, a PE ratio of 18.30, a P/E/G ratio of 1.95 and a beta of 0.81. The company has a 50-day simple moving average of $59.95 and a two-hundred day simple moving average of $57.38. The Toronto-Dominion Bank has a one year low of $51.25 and a one year high of $64.91. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.03 and a current ratio of 1.03.

Toronto-Dominion Bank Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Thursday, April 10th were given a dividend of $0.7278 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $2.91 dividend on an annualized basis and a yield of 4.59%. Toronto-Dominion Bank’s payout ratio is 85.59%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Jefferies Financial Group downgraded Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. StockNews.com lowered shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Monday, February 24th. Finally, 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. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus 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.