Toronto Dominion Bank (The) (TD) Stake Lessened by Burgundy Asset Management Ltd.
Burgundy Asset Management Ltd. decreased its holdings in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 4.9% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,505,604 shares of the bank’s stock after selling 179,987 shares during the quarter. Toronto Dominion Bank accounts for approximately 1.9% of Burgundy Asset Management Ltd.’s holdings, making the stock its 22nd largest position. Burgundy Asset Management Ltd. owned approximately 0.19% of Toronto Dominion Bank worth $197,330,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in TD. Public Sector Pension investment Board boosted its stake in Toronto Dominion Bank by 1,745.0% during the second quarter. Public Sector Pension investment Board now owns 3,658,692 shares of the bank’s stock valued at $184,104,000 after buying an additional 3,881,100 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Toronto Dominion Bank by 44.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 6,535,700 shares of the bank’s stock valued at $329,248,000 after buying an additional 2,022,507 shares in the last quarter. Vanguard Group Inc. boosted its stake in Toronto Dominion Bank by 5.1% during the second quarter. Vanguard Group Inc. now owns 41,532,070 shares of the bank’s stock valued at $2,092,385,000 after buying an additional 2,014,823 shares in the last quarter. DSM Capital Partners LLC bought a new position in Toronto Dominion Bank during the third quarter valued at about $103,030,000. Finally, Capital International Investors boosted its stake in Toronto Dominion Bank by 45.9% during the second quarter. Capital International Investors now owns 5,258,400 shares of the bank’s stock valued at $264,918,000 after buying an additional 1,654,000 shares in the last quarter. 48.82% of the stock is owned by institutional investors.
Several equities research analysts have recently commented on the company. BidaskClub downgraded Toronto Dominion Bank from a “hold” rating to a “sell” rating in a report on Thursday, August 17th. Canaccord Genuity reaffirmed a “buy” rating and set a $80.00 target price on shares of Toronto Dominion Bank in a report on Thursday, November 30th. Zacks Investment Research downgraded Toronto Dominion Bank from a “hold” rating to a “sell” rating in a report on Saturday, December 2nd. Scotiabank raised Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a report on Monday, August 21st. Finally, Howard Weil raised Toronto Dominion Bank to an “outperform” rating in a report on Monday, August 21st. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. Toronto Dominion Bank has a consensus rating of “Buy” and an average price target of $72.50.
Shares of Toronto Dominion Bank (NYSE:TD) traded down $0.22 during midday trading on Friday, hitting $56.20. The stock had a trading volume of 996,400 shares, compared to its average volume of 1,468,938. Toronto Dominion Bank has a twelve month low of $45.18 and a twelve month high of $58.76. The stock has a market capitalization of $103,952.16, a P/E ratio of 13.34, a price-to-earnings-growth ratio of 1.53 and a beta of 0.88. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.93 and a current ratio of 0.93.
Toronto Dominion Bank announced that its Board of Directors has approved a stock repurchase plan on Thursday, August 31st that authorizes the company to buyback 20,000,000 shares. This buyback authorization authorizes the bank to repurchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Wednesday, January 10th will be issued a dividend of $0.466 per share. This represents a $1.86 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend is Tuesday, January 9th. Toronto Dominion Bank’s dividend payout ratio is 44.18%.
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About Toronto Dominion Bank
Toronto-Dominion Bank (the Bank) is a Canada-based bank, which operates in the North America. It is an online financial services firm, with over 10.2 million online and mobile customers. Its segments include Canadian Retail, U.S. Retail, Wholesale Banking and Corporate. The Canadian Retail segment provides a range of financial products and services to customers in the Canadian personal and commercial banking businesses.
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