Ameriprise Financial Inc. Lowers Holdings in The Toronto-Dominion Bank (NYSE:TD)

Ameriprise Financial Inc. lowered its stake in shares of The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD by 45.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 70,716 shares of the bank's stock after selling 59,547 shares during the period. Ameriprise Financial Inc.'s holdings in Toronto-Dominion Bank were worth $3,765,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TD. Norges Bank acquired a new stake in Toronto-Dominion Bank during the 4th quarter worth approximately $992,204,000. FIL Ltd lifted its holdings in Toronto-Dominion Bank by 17.3% during the 4th quarter. FIL Ltd now owns 38,989,749 shares of the bank's stock worth $2,075,819,000 after buying an additional 5,756,584 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Toronto-Dominion Bank by 32.2% during the 4th quarter. Geode Capital Management LLC now owns 10,526,821 shares of the bank's stock worth $569,878,000 after buying an additional 2,564,648 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Toronto-Dominion Bank by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 74,118,551 shares of the bank's stock worth $3,946,072,000 after buying an additional 1,415,934 shares in the last quarter. Finally, Guardian Partners Inc. acquired a new stake in Toronto-Dominion Bank during the 4th quarter worth approximately $38,332,000. Hedge funds and other institutional investors own 52.37% of the company's stock.

Analyst Upgrades and Downgrades

TD has been the topic of a number of analyst reports. Royal Bank of Canada raised their price objective on shares of Toronto-Dominion Bank from $87.00 to $93.00 and gave the company a "sector perform" rating in a report on Friday, May 23rd. Jefferies Financial Group lowered shares of Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a report on Tuesday, February 18th. Scotiabank initiated coverage on shares of Toronto-Dominion Bank in a report on Thursday, May 15th. They issued a "sector perform" rating on the stock. Finally, Wall Street Zen upgraded shares of Toronto-Dominion Bank from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Toronto-Dominion Bank has an average rating of "Hold" and a consensus target price of $93.00.

Toronto-Dominion Bank Price Performance

Shares of NYSE:TD traded up $0.33 during midday trading on Friday, hitting $69.07. 1,635,509 shares of the stock were exchanged, compared to its average volume of 2,360,800. The stock has a market cap of $119.90 billion, a P/E ratio of 19.90, a PEG ratio of 1.95 and a beta of 0.81. 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 Toronto-Dominion Bank has a twelve month low of $51.25 and a twelve month high of $69.30. The company has a 50 day moving average price of $62.20 and a 200-day moving average price of $58.56.

Toronto-Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last released its quarterly earnings results on Thursday, May 22nd. The bank reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.14. The business had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $13.36 billion. Toronto-Dominion Bank had a return on equity of 13.96% and a net margin of 7.37%. During the same quarter in the previous year, the company posted $2.04 EPS. On average, research analysts forecast that The Toronto-Dominion Bank will post 5.48 earnings per share for the current year.

Toronto-Dominion Bank Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 10th will be paid a dividend of $0.7568 per share. This represents a $3.03 annualized dividend and a dividend yield of 4.38%. The ex-dividend date is Thursday, July 10th. This is an increase from Toronto-Dominion Bank's previous quarterly dividend of $0.73. Toronto-Dominion Bank's payout ratio is 42.67%.

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.