Nicola Wealth Management LTD. Acquires 68,400 Shares of The Toronto-Dominion Bank (NYSE:TD)

Nicola Wealth Management LTD. lifted its holdings in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 15.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 510,002 shares of the bank’s stock after acquiring an additional 68,400 shares during the quarter. Toronto-Dominion Bank accounts for 2.9% of Nicola Wealth Management LTD.’s holdings, making the stock its 2nd biggest position. Nicola Wealth Management LTD.’s holdings in Toronto-Dominion Bank were worth $27,153,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TD. The Manufacturers Life Insurance Company grew its position in Toronto-Dominion Bank by 24.9% during the third 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 during the period. Healthcare of Ontario Pension Plan Trust Fund grew its position in Toronto-Dominion Bank by 61.1% during the third 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 during the period. Quadrature Capital Ltd grew its position in Toronto-Dominion Bank by 175.5% during the third quarter. Quadrature Capital Ltd now owns 2,467,300 shares of the bank’s stock valued at $156,202,000 after buying an additional 1,571,700 shares during the period. Caisse DE Depot ET Placement DU Quebec grew its position in Toronto-Dominion Bank by 64.6% during the third 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 buying an additional 892,183 shares during the period. Finally, CIBC Asset Management Inc grew its position in Toronto-Dominion Bank by 5.4% during the third quarter. CIBC Asset Management Inc now owns 16,515,643 shares of the bank’s stock valued at $1,046,825,000 after buying an additional 853,313 shares during the period. Institutional investors and hedge funds own 52.37% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on TD shares. Royal Bank of Canada dropped their price target on shares of Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating on the stock in a research report on Friday, December 6th. Barclays downgraded shares of Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a report on Thursday, November 21st. Desjardins downgraded shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Friday, December 6th. StockNews.com downgraded shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Monday, February 24th. Finally, Bank of America raised shares of Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a report on Friday, January 17th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Toronto-Dominion Bank presently has a consensus rating of “Hold” and an average target price of $80.50.

Toronto-Dominion Bank Price Performance

Shares of TD stock opened at $59.56 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.03 and a quick ratio of 1.03. The firm’s 50-day moving average is $56.92 and its two-hundred day moving average is $57.65. The Toronto-Dominion Bank has a 12 month low of $51.25 and a 12 month high of $64.91. The company has a market capitalization of $104.36 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 1.95 and a beta of 0.84.

Toronto-Dominion Bank Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 10th will be given a dividend of $0.7278 per share. This represents a $2.91 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date of this dividend is Thursday, April 10th. Toronto-Dominion Bank’s dividend payout ratio is presently 84.71%.

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.