Hemenway Trust Co LLC Cuts Stock Position in The Toronto-Dominion Bank (NYSE:TD)

Hemenway Trust Co LLC lowered its stake in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 6.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,910 shares of the bank’s stock after selling 420 shares during the quarter. Hemenway Trust Co LLC’s holdings in Toronto-Dominion Bank were worth $315,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in Toronto-Dominion Bank during the 4th quarter worth $992,204,000. Geode Capital Management LLC boosted its holdings in shares of Toronto-Dominion Bank by 32.2% in the fourth quarter. Geode Capital Management LLC now owns 10,526,821 shares of the bank’s stock valued at $569,878,000 after acquiring an additional 2,564,648 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Toronto-Dominion Bank by 1.9% in the 4th 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 in the last quarter. Guardian Partners Inc. acquired a new position in Toronto-Dominion Bank during the 4th quarter worth approximately $38,332,000. Finally, Zurich Insurance Group Ltd FI purchased a new position in shares of Toronto-Dominion Bank during the 3rd quarter worth approximately $43,257,000. 52.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on TD. Scotiabank lowered Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a report on Friday, December 6th. Jefferies Financial Group downgraded shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. StockNews.com lowered Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Monday, February 24th. Bank of America raised Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a report on Friday, January 17th. Finally, Royal Bank of Canada dropped their target price on shares of Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating for the company in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $80.50.

Toronto-Dominion Bank Trading Down 2.7 %

NYSE TD opened at $57.10 on Friday. The Toronto-Dominion Bank has a 12 month low of $51.25 and a 12 month high of $64.91. The company has a 50-day moving average of $59.17 and a 200-day moving average of $57.56. The company has a market cap of $100.06 billion, a P/E ratio of 16.46, a P/E/G ratio of 1.95 and a beta of 0.73. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.03 and a quick ratio of 1.03.

Toronto-Dominion Bank Cuts Dividend

The firm 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. This represents a $2.91 dividend on an annualized basis and a yield of 5.10%. The ex-dividend date of this dividend is Thursday, April 10th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 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.