Balyasny Asset Management L.P. Sells 74,518 Shares of The Toronto-Dominion Bank (NYSE:TD)

Balyasny Asset Management L.P. lowered its position in The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD by 24.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 230,332 shares of the bank's stock after selling 74,518 shares during the quarter. Balyasny Asset Management L.P.'s holdings in Toronto-Dominion Bank were worth $12,263,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TD. Vanguard Group Inc. boosted its stake in Toronto-Dominion Bank by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 74,118,551 shares of the bank's stock valued at $3,946,072,000 after acquiring an additional 1,415,934 shares during the period. FIL Ltd boosted its position in Toronto-Dominion Bank by 17.3% during the 4th quarter. FIL Ltd now owns 38,989,749 shares of the bank's stock valued at $2,075,819,000 after purchasing an additional 5,756,584 shares during the period. Norges Bank bought a new position in Toronto-Dominion Bank during the 4th quarter worth $992,204,000. Beutel Goodman & Co Ltd. increased its position in Toronto-Dominion Bank by 3.8% in the fourth quarter. Beutel Goodman & Co Ltd. now owns 16,803,807 shares of the bank's stock worth $894,169,000 after buying an additional 622,736 shares during the period. Finally, CIBC Asset Management Inc lifted its stake in Toronto-Dominion Bank by 0.4% in the fourth 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 during the last quarter. 52.37% of the stock is owned by hedge funds and other institutional investors.

Toronto-Dominion Bank Stock Up 0.2 %

TD traded up $0.14 during midday trading on Friday, hitting $63.19. 921,346 shares of the company's stock traded hands, compared to its average volume of 2,394,094. 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 company has a market cap of $109.69 billion, a PE ratio of 18.21, a price-to-earnings-growth ratio of 1.95 and a beta of 0.81. The stock's fifty day simple moving average is $60.17 and its 200-day simple moving average is $57.52. The Toronto-Dominion Bank has a one year low of $51.25 and a one year high of $64.91.

Toronto-Dominion Bank Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th were paid a $0.7278 dividend. This represents a $2.91 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date of this dividend was Thursday, April 10th. Toronto-Dominion Bank's payout ratio is 85.59%.

Analyst Upgrades and Downgrades

Several research analysts have commented on TD shares. 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. Jefferies Financial Group lowered Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a report on Tuesday, February 18th. Finally, StockNews.com downgraded Toronto-Dominion Bank from a "hold" rating to a "sell" rating in a research note on Monday, February 24th. Two research analysts have rated the stock with a sell rating, six have issued 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, the stock presently has a consensus 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.