The Toronto-Dominion Bank (NYSE:TD) Shares Sold by Advisors Capital Management LLC

Advisors Capital Management LLC lowered its position in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 22.6% in the fourth quarter, HoldingsChannel reports. The fund owned 290,324 shares of the bank’s stock after selling 84,996 shares during the quarter. Advisors Capital Management LLC’s holdings in Toronto-Dominion Bank were worth $15,457,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Lee Danner & Bass Inc. purchased a new position in shares of Toronto-Dominion Bank in the 4th quarter valued at about $27,000. Bank of Jackson Hole Trust purchased a new stake in shares of Toronto-Dominion Bank in the fourth quarter valued at approximately $32,000. Versant Capital Management Inc raised its stake in shares of Toronto-Dominion Bank by 40.0% during the 4th quarter. Versant Capital Management Inc now owns 700 shares of the bank’s stock worth $37,000 after buying an additional 200 shares during the period. Murphy & Mullick Capital Management Corp purchased a new position in shares of Toronto-Dominion Bank during the 4th quarter valued at approximately $39,000. Finally, SBI Securities Co. Ltd. acquired a new stake in Toronto-Dominion Bank in the 4th quarter valued at $51,000. 52.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Jefferies Financial Group cut shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. BMO Capital Markets raised shares of Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a research note on Thursday, December 19th. Bank of America upgraded Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a report on Friday, January 17th. Finally, StockNews.com downgraded Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Monday, February 24th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Toronto-Dominion Bank currently has an average rating of “Hold” and a consensus target price of $80.50.

Toronto-Dominion Bank Stock Up 3.2 %

Shares of NYSE TD opened at $58.43 on Monday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.11. The company has a 50-day moving average of $59.10 and a 200 day moving average of $57.19. The Toronto-Dominion Bank has a 12-month low of $51.25 and a 12-month high of $64.91. The stock has a market cap of $102.39 billion, a PE ratio of 16.84, a P/E/G ratio of 1.95 and a beta of 0.73.

Toronto-Dominion Bank Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 10th will be issued a $0.7278 dividend. The ex-dividend date is Thursday, April 10th. This represents a $2.91 annualized dividend and a dividend yield of 4.98%. Toronto-Dominion Bank’s dividend payout ratio is presently 85.29%.

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.