Pictet Asset Management Holding SA Boosts Stock Position in The Toronto-Dominion Bank (NYSE:TD)

Pictet Asset Management Holding SA raised its stake in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 18.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 950,182 shares of the bank’s stock after buying an additional 148,685 shares during the quarter. Pictet Asset Management Holding SA owned about 0.05% of Toronto-Dominion Bank worth $50,561,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Dunhill Financial LLC raised its position in shares of Toronto-Dominion Bank by 164.9% in the 3rd quarter. Dunhill Financial LLC now owns 400 shares of the bank’s stock worth $25,000 after purchasing an additional 249 shares during the last quarter. Lee Danner & Bass Inc. bought a new stake in Toronto-Dominion Bank during the 4th quarter valued at about $27,000. Bank of Jackson Hole Trust purchased a new position in Toronto-Dominion Bank in the fourth quarter worth about $32,000. Versant Capital Management Inc lifted its stake in shares of Toronto-Dominion Bank by 40.0% in the fourth quarter. Versant Capital Management Inc now owns 700 shares of the bank’s stock worth $37,000 after buying an additional 200 shares in the last quarter. Finally, Murphy & Mullick Capital Management Corp purchased a new stake in shares of Toronto-Dominion Bank during the fourth quarter valued at approximately $39,000. 52.37% of the stock is owned by institutional investors.

Toronto-Dominion Bank Price Performance

NYSE TD opened at $60.31 on Friday. The company has a 50-day moving average price of $58.99 and a 200-day moving average price of $57.64. 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 firm has a market capitalization of $105.67 billion, a P/E ratio of 17.38, a PEG ratio of 1.95 and a beta of 0.83.

Toronto-Dominion Bank Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 10th will be given a $0.7278 dividend. The ex-dividend date is Thursday, April 10th. This represents a $2.91 annualized dividend and a yield of 4.83%. Toronto-Dominion Bank’s payout ratio is presently 85.29%.

Analyst Ratings Changes

Several research firms recently issued reports on TD. BMO Capital Markets raised Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Thursday, December 19th. Desjardins cut Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. StockNews.com lowered Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Monday, February 24th. Jefferies Financial Group downgraded shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. Finally, Scotiabank cut shares of Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price 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.