Bank of Nova Scotia Sells 3,096,088 Shares of The Toronto-Dominion Bank (NYSE:TD)

Bank of Nova Scotia lessened its holdings in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 8.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 33,401,565 shares of the bank’s stock after selling 3,096,088 shares during the period. Toronto-Dominion Bank makes up approximately 3.3% of Bank of Nova Scotia’s holdings, making the stock its 5th largest position. Bank of Nova Scotia owned 1.91% of Toronto-Dominion Bank worth $1,778,019,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Verition Fund Management LLC boosted its holdings in Toronto-Dominion Bank by 22.9% in the 3rd quarter. Verition Fund Management LLC now owns 7,661 shares of the bank’s stock valued at $485,000 after purchasing an additional 1,429 shares during the period. Benjamin Edwards Inc. bought a new position in Toronto-Dominion Bank during the third quarter valued at about $387,000. Morse Asset Management Inc bought a new stake in shares of Toronto-Dominion Bank in the 3rd quarter worth approximately $63,000. Quantinno Capital Management LP grew its holdings in shares of Toronto-Dominion Bank by 18.1% during the 3rd quarter. Quantinno Capital Management LP now owns 58,392 shares of the bank’s stock worth $3,694,000 after purchasing an additional 8,958 shares in the last quarter. Finally, Orion Portfolio Solutions LLC increased its position in shares of Toronto-Dominion Bank by 69.6% during the third quarter. Orion Portfolio Solutions LLC now owns 19,863 shares of the bank’s stock valued at $1,257,000 after purchasing an additional 8,152 shares during the period. Institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Trading Down 2.3 %

Shares of TD opened at $55.74 on Tuesday. 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 company has a market cap of $97.68 billion, a price-to-earnings ratio of 16.06, a PEG ratio of 1.95 and a beta of 0.73. The stock has a fifty day moving average price of $59.13 and a two-hundred day moving average price of $57.43. 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 declared 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 is Thursday, April 10th. This represents a $2.91 annualized dividend and a yield of 5.22%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is 85.29%.

Analysts Set New Price Targets

TD has been the topic of a number of recent research reports. Jefferies Financial Group downgraded shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research note on Tuesday, February 18th. BMO Capital Markets raised shares of Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a research note on Thursday, December 19th. StockNews.com downgraded Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Monday, February 24th. Finally, Bank of America upgraded Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a research report on Friday, January 17th. Two investment 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 company’s stock. According to data from MarketBeat.com, Toronto-Dominion Bank currently has a consensus rating of “Hold” and an average target price 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.