Norges Bank Takes $992.20 Million Position in The Toronto-Dominion Bank (NYSE:TD)

Norges Bank purchased a new stake in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 18,660,404 shares of the bank’s stock, valued at approximately $992,204,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quadrature Capital Ltd boosted its position in shares of Toronto-Dominion Bank by 175.5% in the third quarter. Quadrature Capital Ltd now owns 2,467,300 shares of the bank’s stock valued at $156,202,000 after acquiring an additional 1,571,700 shares during the period. Vanguard Group Inc. raised its stake in Toronto-Dominion Bank by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 74,118,551 shares of the bank’s stock worth $3,946,072,000 after purchasing an additional 1,415,934 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its holdings in Toronto-Dominion Bank by 64.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,273,520 shares of the bank’s stock valued at $143,922,000 after purchasing an additional 892,183 shares during the period. Guardian Partners Inc. acquired a new position in shares of Toronto-Dominion Bank during the 4th quarter worth approximately $38,332,000. Finally, Zurich Insurance Group Ltd FI bought a new position in shares of Toronto-Dominion Bank during the third quarter worth approximately $43,257,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

Analysts Set New Price Targets

TD has been the topic of a number of analyst reports. Jefferies Financial Group downgraded Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. BMO Capital Markets raised Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a report on Thursday, December 19th. StockNews.com cut Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Monday, February 24th. Royal Bank of Canada cut their price objective 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. Finally, Scotiabank lowered shares of Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $80.50.

Toronto-Dominion Bank Stock Performance

NYSE:TD opened at $61.00 on Friday. The Toronto-Dominion Bank has a twelve month low of $51.25 and a twelve month high of $64.91. 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 stock’s 50-day simple moving average is $58.94 and its 200 day simple moving average is $57.67. The firm has a market capitalization of $106.89 billion, a PE ratio of 17.58, a price-to-earnings-growth ratio of 1.95 and a beta of 0.83.

Toronto-Dominion Bank Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th will be paid a $0.7278 dividend. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.91 dividend on an annualized basis and a dividend yield of 4.77%. Toronto-Dominion Bank’s payout ratio is currently 85.29%.

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.