Stifel Financial Corp Lowers Stock Holdings in The Toronto-Dominion Bank (NYSE:TD)

Stifel Financial Corp lessened its holdings in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 5.1% during the third quarter, HoldingsChannel reports. The firm owned 78,597 shares of the bank’s stock after selling 4,186 shares during the quarter. Stifel Financial Corp’s holdings in Toronto-Dominion Bank were worth $4,972,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in TD. Blue Trust Inc. increased its position in Toronto-Dominion Bank by 50.7% during the second quarter. Blue Trust Inc. now owns 630 shares of the bank’s stock worth $38,000 after purchasing an additional 212 shares during the last quarter. Kimelman & Baird LLC acquired a new position in shares of Toronto-Dominion Bank in the 2nd quarter valued at $49,000. Morse Asset Management Inc purchased a new stake in shares of Toronto-Dominion Bank during the 3rd quarter valued at $63,000. Eastern Bank acquired a new stake in shares of Toronto-Dominion Bank during the 3rd quarter worth $66,000. Finally, Hexagon Capital Partners LLC raised its position in shares of Toronto-Dominion Bank by 18.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 1,337 shares of the bank’s stock worth $85,000 after buying an additional 209 shares during the period. Institutional investors and hedge funds own 52.37% of the company’s stock.

Analyst Upgrades and Downgrades

TD has been the subject of several research analyst reports. Barclays lowered Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a research note on Thursday, November 21st. Jefferies Financial Group raised shares of Toronto-Dominion Bank from a “hold” rating to a “buy” rating in a research report on Thursday. National Bank Financial raised shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research report on Thursday, August 22nd. Scotiabank downgraded shares of Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research note on Friday, December 6th. Finally, Royal Bank of Canada cut their target price on shares of Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating on the stock in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Toronto-Dominion Bank has a consensus rating of “Hold” and a consensus price target of $80.50.

Toronto-Dominion Bank Stock Down 0.4 %

Shares of NYSE:TD opened at $53.25 on Friday. The company has a market capitalization of $93.20 billion, a price-to-earnings ratio of 15.35, a price-to-earnings-growth ratio of 1.70 and a beta of 0.82. The company has a 50 day moving average of $56.29 and a two-hundred day moving average of $57.55. The Toronto-Dominion Bank has a 52-week low of $51.74 and a 52-week high of $65.12. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.11.

Toronto-Dominion Bank Increases Dividend

The firm 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 dividend of $0.7482 per share. 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. This represents a $2.99 annualized dividend and a dividend yield of 5.62%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is currently 89.34%.

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.