The Toronto-Dominion Bank (NYSE:TD) Stake Lowered by Nexus Investment Management ULC

Nexus Investment Management ULC cut its holdings in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 1.7% in the fourth quarter, Holdings Channel reports. The fund owned 743,742 shares of the bank’s stock after selling 12,600 shares during the quarter. Toronto-Dominion Bank accounts for approximately 4.0% of Nexus Investment Management ULC’s portfolio, making the stock its 5th largest position. Nexus Investment Management ULC’s holdings in Toronto-Dominion Bank were worth $39,507,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Cerity Partners LLC increased its holdings in shares of Toronto-Dominion Bank by 57.1% in the 3rd quarter. Cerity Partners LLC now owns 26,755 shares of the bank’s stock valued at $1,693,000 after acquiring an additional 9,725 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in Toronto-Dominion Bank by 1.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,761,308 shares of the bank’s stock valued at $617,166,000 after purchasing an additional 144,427 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake 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 valued at $380,118,000 after purchasing an additional 2,279,864 shares during the last quarter. Galibier Capital Management Ltd. raised its holdings in Toronto-Dominion Bank by 24.6% in the third quarter. Galibier Capital Management Ltd. now owns 608,613 shares of the bank’s stock worth $38,527,000 after purchasing an additional 119,978 shares in the last quarter. Finally, Forsta AP Fonden lifted its position in shares of Toronto-Dominion Bank by 3.2% during the third quarter. Forsta AP Fonden now owns 466,500 shares of the bank’s stock valued at $29,531,000 after buying an additional 14,500 shares during the last quarter. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Analyst Upgrades and Downgrades

TD has been the topic of a number of analyst reports. Royal Bank of Canada cut their price objective on shares of Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating on the stock in a research report on Friday, December 6th. Scotiabank lowered shares of Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a report on Friday, December 6th. BMO Capital Markets upgraded Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a report on Thursday, December 19th. Desjardins cut Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Finally, Bank of America upgraded Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $80.50.

Toronto-Dominion Bank Stock Performance

Shares of TD opened at $57.49 on Friday. 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 stock has a 50-day moving average of $54.48 and a two-hundred day moving average of $57.31. The stock has a market cap of $100.63 billion, a P/E ratio of 16.57, a P/E/G ratio of 1.72 and a beta of 0.83. The Toronto-Dominion Bank has a one year low of $51.25 and a one year high of $64.91.

Toronto-Dominion Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 10th will be given a $0.7482 dividend. The ex-dividend date is Friday, January 10th. This represents a $2.99 dividend on an annualized basis and a yield of 5.21%. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. Toronto-Dominion Bank’s dividend payout ratio is currently 87.03%.

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.