Forge First Asset Management Inc. Acquires New Position in The Toronto-Dominion Bank (NYSE:TD)

Forge First Asset Management Inc. bought a new stake in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 127,100 shares of the bank’s stock, valued at approximately $6,761,000. Toronto-Dominion Bank comprises approximately 2.4% of Forge First Asset Management Inc.’s portfolio, making the stock its 14th largest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TD. CIBC Asset Management Inc boosted its stake in 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 worth $882,241,000 after purchasing an additional 59,956 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Toronto-Dominion Bank by 24.9% in the third quarter. The Manufacturers Life Insurance Company now owns 13,509,261 shares of the bank’s stock worth $854,815,000 after acquiring an additional 2,689,532 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Toronto-Dominion Bank by 2.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 12,186,545 shares of the bank’s stock worth $770,921,000 after acquiring an additional 301,649 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Toronto-Dominion Bank by 1.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,761,308 shares of the bank’s stock worth $617,166,000 after purchasing an additional 144,427 shares during the period. Finally, Geode Capital Management LLC raised its position in Toronto-Dominion Bank by 6.4% during the third quarter. Geode Capital Management LLC now owns 7,962,173 shares of the bank’s stock valued at $506,846,000 after acquiring an additional 479,624 shares in the last quarter. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on TD shares. Desjardins lowered Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Bank of America raised Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a research note on Friday, January 17th. StockNews.com downgraded Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Monday, February 24th. Royal Bank of Canada reduced their target price on Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating on the stock in a report on Friday, December 6th. Finally, BMO Capital Markets raised Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a report on Thursday, December 19th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Toronto-Dominion Bank has a consensus rating of “Hold” and an average target price of $80.50.

Toronto-Dominion Bank Stock Performance

Shares of TD stock opened at $57.76 on Wednesday. The business’s 50-day moving average price is $57.62 and its 200-day moving average price is $57.63. 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 firm has a market capitalization of $101.20 billion, a price-to-earnings ratio of 16.64, a PEG ratio of 1.95 and a beta of 0.83. The Toronto-Dominion Bank has a 12 month low of $51.25 and a 12 month high of $64.91.

Toronto-Dominion Bank Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders 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 yield of 5.04%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 85.29%.

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.