Eagle Ridge Investment Management Decreases Position in The Toronto-Dominion Bank (NYSE:TD)

Eagle Ridge Investment Management lessened its holdings in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 20.6% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 115,359 shares of the bank’s stock after selling 29,969 shares during the period. Eagle Ridge Investment Management’s holdings in Toronto-Dominion Bank were worth $6,142,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TD. The Manufacturers Life Insurance Company boosted its position in Toronto-Dominion Bank by 24.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,509,261 shares of the bank’s stock valued at $854,815,000 after buying an additional 2,689,532 shares during the period. Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of Toronto-Dominion Bank by 61.1% during the 3rd 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 during the last quarter. Quadrature Capital Ltd lifted its position in shares of Toronto-Dominion Bank by 175.5% during the 3rd 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. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Toronto-Dominion Bank by 64.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,273,520 shares of the bank’s stock worth $143,922,000 after purchasing an additional 892,183 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its position in shares of Toronto-Dominion Bank by 5.4% during the 3rd quarter. CIBC Asset Management Inc now owns 16,515,643 shares of the bank’s stock worth $1,046,825,000 after purchasing an additional 853,313 shares during the last quarter. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Trading Up 0.7 %

Shares of Toronto-Dominion Bank stock opened at $57.86 on Friday. The Toronto-Dominion Bank has a 52-week low of $51.25 and a 52-week high of $64.91. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.11. The company’s 50-day simple moving average is $54.77 and its 200-day simple moving average is $57.38. The firm has a market cap of $101.28 billion, a price-to-earnings ratio of 16.67, a price-to-earnings-growth ratio of 1.82 and a beta of 0.84.

Toronto-Dominion Bank Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 10th were paid a dividend of $0.7482 per share. This represents a $2.99 dividend on an annualized basis and a dividend yield of 5.17%. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. The ex-dividend date was Friday, January 10th. Toronto-Dominion Bank’s payout ratio is 84.15%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TD. BMO Capital Markets raised shares of Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Thursday, December 19th. StockNews.com raised shares of Toronto-Dominion Bank from a “sell” rating to a “hold” rating in a research report on Wednesday. Royal Bank of Canada reduced their price target on shares of Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating for the company 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 research note on Friday, December 6th. 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. One investment analyst has rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Toronto-Dominion Bank presently has a consensus rating of “Hold” and a consensus price target of $80.50.

Toronto-Dominion Bank Profile

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.