Forum Financial Management LP Raises Stock Position in The Toronto-Dominion Bank (NYSE:TD)

Forum Financial Management LP grew its holdings in shares of The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD by 64.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 18,711 shares of the bank's stock after purchasing an additional 7,313 shares during the period. Forum Financial Management LP's holdings in Toronto-Dominion Bank were worth $996,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on TD shares. Jefferies Financial Group cut Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Bank of America raised shares of Toronto-Dominion Bank from a "neutral" rating to a "buy" rating in a report on Friday, January 17th. Finally, StockNews.com downgraded shares of Toronto-Dominion Bank from a "hold" rating to a "sell" rating in a research report on Monday, February 24th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $80.50.

Toronto-Dominion Bank Stock Performance

NYSE TD traded up $0.25 on Thursday, hitting $62.04. 505,249 shares of the company traded hands, compared to its average volume of 2,347,904. 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 business's 50 day moving average price is $59.35 and its 200-day moving average price is $57.13. The company has a market capitalization of $108.72 billion, a price-to-earnings ratio of 17.88, a P/E/G ratio of 1.95 and a beta of 0.73. The Toronto-Dominion Bank has a 52-week low of $51.25 and a 52-week high of $64.91.

Toronto-Dominion Bank Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 10th will be paid a dividend of $0.7278 per share. The ex-dividend date of this dividend is Thursday, April 10th. This represents a $2.91 dividend on an annualized basis and a dividend yield of 4.69%. Toronto-Dominion Bank's dividend payout ratio (DPR) is presently 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.