Wells Fargo & Company MN Trims Stake in The Toronto-Dominion Bank (NYSE:TD)

Wells Fargo & Company MN reduced its position in The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD by 62.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 522,102 shares of the bank's stock after selling 868,993 shares during the period. Wells Fargo & Company MN's holdings in Toronto-Dominion Bank were worth $27,797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Morse Asset Management Inc purchased a new stake in shares of Toronto-Dominion Bank in the third quarter valued at approximately $63,000. Orion Portfolio Solutions LLC increased its holdings in Toronto-Dominion Bank by 69.6% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 19,863 shares of the bank's stock worth $1,257,000 after acquiring an additional 8,152 shares in the last quarter. MML Investors Services LLC increased its holdings in Toronto-Dominion Bank by 12.2% in the 3rd quarter. MML Investors Services LLC now owns 12,063 shares of the bank's stock worth $763,000 after acquiring an additional 1,309 shares in the last quarter. Geode Capital Management LLC raised its position in Toronto-Dominion Bank by 6.4% during the third quarter. Geode Capital Management LLC now owns 7,962,173 shares of the bank's stock worth $506,846,000 after acquiring an additional 479,624 shares during the period. Finally, Passumpsic Savings Bank lifted its holdings in Toronto-Dominion Bank by 2.6% during the third quarter. Passumpsic Savings Bank now owns 7,530 shares of the bank's stock valued at $476,000 after purchasing an additional 194 shares in the last quarter. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TD. StockNews.com cut shares of Toronto-Dominion Bank from a "hold" rating to a "sell" rating in a research note on Monday, February 24th. BMO Capital Markets upgraded Toronto-Dominion Bank from a "market perform" rating to an "outperform" rating in a research note on Thursday, December 19th. Bank of America upgraded Toronto-Dominion Bank from a "neutral" rating to a "buy" rating in a research report on Friday, January 17th. Finally, Jefferies Financial Group lowered Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Toronto-Dominion Bank presently has a consensus rating of "Hold" and an average price target of $80.50.

Toronto-Dominion Bank Price Performance

Shares of Toronto-Dominion Bank stock traded down $0.05 on Thursday, hitting $60.39. 363,734 shares of the company were exchanged, compared to its average volume of 2,509,280. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.11. The company has a 50-day moving average price of $59.24 and a 200 day moving average price of $57.20. The stock has a market capitalization of $105.82 billion, a price-to-earnings ratio of 17.42, a price-to-earnings-growth ratio of 1.95 and a beta of 0.73. 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 disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 10th will be paid a dividend of $0.7278 per share. This represents a $2.91 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date of this dividend is Thursday, April 10th. Toronto-Dominion Bank's dividend payout ratio (DPR) is currently 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.