Pines Wealth Management LLC Makes New Investment in The Toronto-Dominion Bank (NYSE:TD)

Pines Wealth Management LLC purchased a new stake in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 5,063 shares of the bank’s stock, valued at approximately $274,000.

A number of other institutional investors have also made changes to their positions in TD. Cerity Partners LLC grew its holdings in 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 buying an additional 9,725 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased 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 worth $617,166,000 after acquiring an additional 144,427 shares during the period. Healthcare of Ontario Pension Plan Trust Fund raised its stake in 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 valued at $380,118,000 after purchasing an additional 2,279,864 shares during the last quarter. Galibier Capital Management Ltd. boosted its holdings in Toronto-Dominion Bank by 24.6% in the 3rd quarter. Galibier Capital Management Ltd. now owns 608,613 shares of the bank’s stock valued at $38,527,000 after purchasing an additional 119,978 shares during the period. Finally, Forsta AP Fonden grew its position in Toronto-Dominion Bank by 3.2% in the 3rd quarter. Forsta AP Fonden now owns 466,500 shares of the bank’s stock worth $29,531,000 after purchasing an additional 14,500 shares during the last quarter. 52.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TD has been the subject of several research reports. Barclays cut shares of Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a research note on Thursday, November 21st. Royal Bank of Canada reduced their price objective on 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. Jefferies Financial Group upgraded Toronto-Dominion Bank from a “hold” rating to a “buy” rating in a research report on Thursday, December 12th. StockNews.com cut Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Friday, December 27th. Finally, Desjardins lowered shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $80.50.

Toronto-Dominion Bank Price Performance

Shares of TD stock opened at $55.41 on Thursday. The stock’s fifty day simple moving average is $54.52 and its 200 day simple moving average is $57.32. The Toronto-Dominion Bank has a one year low of $51.25 and a one year high of $64.91. The firm has a market cap of $96.98 billion, a price-to-earnings ratio of 15.97, a P/E/G ratio of 1.69 and a beta of 0.83. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.03 and a quick ratio of 1.02.

Toronto-Dominion Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 10th will be paid a $0.7482 dividend. This represents a $2.99 annualized dividend and a dividend yield of 5.40%. The ex-dividend date of this dividend is Friday, January 10th. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. Toronto-Dominion Bank’s payout ratio is currently 83.86%.

Toronto-Dominion Bank Company 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.