Harbour Investments Inc. Sells 5,497 Shares of The Toronto-Dominion Bank (NYSE:TD)

Harbour Investments Inc. cut its stake in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 70.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,278 shares of the bank’s stock after selling 5,497 shares during the period. Harbour Investments Inc.’s holdings in Toronto-Dominion Bank were worth $121,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Asahi Life Asset Management CO. LTD. bought a new position in shares of Toronto-Dominion Bank in the 4th quarter worth about $416,000. Cerity Partners LLC increased its holdings in Toronto-Dominion Bank by 57.1% in the third quarter. Cerity Partners LLC now owns 26,755 shares of the bank’s stock worth $1,693,000 after purchasing an additional 9,725 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Toronto-Dominion Bank by 61.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,011,579 shares of the bank’s stock worth $380,118,000 after purchasing an additional 2,279,864 shares in the last quarter. FMR LLC lifted its stake in Toronto-Dominion Bank by 9.9% in the third quarter. FMR LLC now owns 6,553,761 shares of the bank’s stock valued at $414,417,000 after buying an additional 587,947 shares during the period. Finally, Nicola Wealth Management LTD. boosted its holdings in shares of Toronto-Dominion Bank by 15.5% during the 4th quarter. Nicola Wealth Management LTD. now owns 510,002 shares of the bank’s stock worth $27,153,000 after buying an additional 68,400 shares in the last quarter. 52.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

TD has been the topic of a number of research reports. Jefferies Financial Group downgraded shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. Desjardins lowered shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Friday, December 6th. StockNews.com downgraded Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Monday, February 24th. Scotiabank downgraded Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research note on Friday, December 6th. Finally, BMO Capital Markets upgraded Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a report on Thursday, December 19th. Two analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $80.50.

Toronto-Dominion Bank Price Performance

TD stock opened at $59.50 on Monday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.03 and a current ratio of 1.03. The business has a 50-day simple moving average of $58.46 and a two-hundred day simple moving average of $57.62. The company has a market capitalization of $104.25 billion, a P/E ratio of 17.15, a price-to-earnings-growth ratio of 1.95 and a beta of 0.83. The Toronto-Dominion Bank has a 52-week low of $51.25 and a 52-week high of $64.91.

Toronto-Dominion Bank Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 10th will be given a dividend of $0.7278 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.91 annualized dividend and a dividend yield of 4.89%. Toronto-Dominion Bank’s payout ratio is 85.29%.

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.