Raymond James Financial Inc. Buys New Shares in The Toronto-Dominion Bank (NYSE:TD)

Raymond James Financial Inc. bought a new stake in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 147,721 shares of the bank’s stock, valued at approximately $7,865,000.

Several other large investors have also recently bought and sold shares of the stock. CIBC Asset Management Inc raised its stake in shares of Toronto-Dominion Bank by 0.4% in the 4th quarter. CIBC Asset Management Inc now owns 16,575,599 shares of the bank’s stock valued at $882,241,000 after buying an additional 59,956 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Toronto-Dominion Bank by 24.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,509,261 shares of the bank’s stock valued at $854,815,000 after buying an additional 2,689,532 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Toronto-Dominion Bank by 6.4% in the 3rd quarter. Geode Capital Management LLC now owns 7,962,173 shares of the bank’s stock valued at $506,846,000 after buying an additional 479,624 shares in the last quarter. FMR LLC raised its stake in shares of Toronto-Dominion Bank by 9.9% in the 3rd quarter. FMR LLC now owns 6,553,761 shares of the bank’s stock valued at $414,417,000 after buying an additional 587,947 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Toronto-Dominion Bank by 61.1% in 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 buying an additional 2,279,864 shares in the last quarter. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Toronto-Dominion Bank Stock Down 0.7 %

Shares of NYSE:TD opened at $59.50 on Friday. The Toronto-Dominion Bank has a 12 month low of $51.25 and a 12 month high of $64.91. The company’s 50-day moving average price is $58.46 and its two-hundred day moving average price is $57.63. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.11. The firm has a market cap of $104.25 billion, a P/E ratio of 17.15, a P/E/G ratio of 1.95 and a beta of 0.83.

Toronto-Dominion Bank Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 10th will be issued a dividend of $0.7278 per share. This represents a $2.91 dividend on an annualized basis and a yield of 4.89%. The ex-dividend date of this dividend is Thursday, April 10th. Toronto-Dominion Bank’s dividend payout ratio is currently 85.29%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Bank of America upgraded shares of Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a research report on Friday, January 17th. StockNews.com cut shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Monday, February 24th. Scotiabank cut shares of Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research report on Friday, December 6th. Desjardins cut shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. 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 research report on Friday, December 6th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $80.50.

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.