Beacon Pointe Advisors LLC Decreases Stock Position in The Toronto-Dominion Bank (NYSE:TD)

Beacon Pointe Advisors LLC reduced its position in The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD by 43.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 5,523 shares of the bank's stock after selling 4,193 shares during the period. Beacon Pointe Advisors LLC's holdings in Toronto-Dominion Bank were worth $294,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Capital Analysts LLC grew its position in Toronto-Dominion Bank by 15.4% during the 4th quarter. Capital Analysts LLC now owns 2,380 shares of the bank's stock worth $127,000 after purchasing an additional 318 shares during the last quarter. Nebula Research & Development LLC grew its holdings in shares of Toronto-Dominion Bank by 331.2% during the fourth quarter. Nebula Research & Development LLC now owns 35,735 shares of the bank's stock worth $1,903,000 after buying an additional 27,448 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Toronto-Dominion Bank by 347.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 22,213 shares of the bank's stock valued at $1,183,000 after acquiring an additional 17,252 shares during the period. Natixis raised its stake in Toronto-Dominion Bank by 342.5% during the 4th quarter. Natixis now owns 66,320 shares of the bank's stock valued at $3,531,000 after acquiring an additional 51,331 shares during the last quarter. Finally, Claret Asset Management Corp lifted its position in Toronto-Dominion Bank by 106.7% during the 4th quarter. Claret Asset Management Corp now owns 124,751 shares of the bank's stock worth $6,638,000 after acquiring an additional 64,399 shares during the period. Hedge funds and other institutional investors own 52.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on TD. Bank of America raised Toronto-Dominion Bank from a "neutral" rating to a "buy" rating in a report on Friday, January 17th. Jefferies Financial Group downgraded shares of Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Finally, StockNews.com downgraded shares of Toronto-Dominion Bank from a "hold" rating to a "sell" rating in a 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 issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $80.50.

Toronto-Dominion Bank Price Performance

Shares of NYSE:TD traded up $0.14 on Friday, reaching $63.19. 921,346 shares of the company were exchanged, compared to its average volume of 2,394,094. The company has a 50-day moving average of $60.17 and a 200-day moving average of $57.51. 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 cap of $109.69 billion, a price-to-earnings ratio of 18.21, a price-to-earnings-growth ratio of 1.95 and a beta of 0.81. The Toronto-Dominion Bank has a 1-year low of $51.25 and a 1-year high of $64.91.

Toronto-Dominion Bank Cuts Dividend

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

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.