The Toronto-Dominion Bank (NYSE:TD) is Louisbourg Investments Inc.’s 10th Largest Position

Louisbourg Investments Inc. boosted its stake in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 12.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 192,027 shares of the bank’s stock after purchasing an additional 21,814 shares during the period. Toronto-Dominion Bank makes up about 2.5% of Louisbourg Investments Inc.’s investment portfolio, making the stock its 10th biggest position. Louisbourg Investments Inc.’s holdings in Toronto-Dominion Bank were worth $10,218,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its position in shares of Toronto-Dominion Bank by 24.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,509,261 shares of the bank’s stock worth $854,815,000 after purchasing an additional 2,689,532 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Toronto-Dominion Bank by 61.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,011,579 shares of the bank’s stock worth $380,118,000 after buying an additional 2,279,864 shares in the last quarter. Quadrature Capital Ltd raised its holdings in shares of Toronto-Dominion Bank by 175.5% during the third quarter. Quadrature Capital Ltd now owns 2,467,300 shares of the bank’s stock valued at $156,202,000 after acquiring an additional 1,571,700 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec lifted its position in shares of Toronto-Dominion Bank by 64.6% in the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,273,520 shares of the bank’s stock valued at $143,922,000 after acquiring an additional 892,183 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its stake in shares of Toronto-Dominion Bank by 5.4% in the third quarter. CIBC Asset Management Inc now owns 16,515,643 shares of the bank’s stock worth $1,046,825,000 after acquiring an additional 853,313 shares during the last quarter. 52.37% of the stock is owned by hedge funds and other institutional investors.

Toronto-Dominion Bank Price Performance

Shares of TD stock opened at $60.70 on Wednesday. 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 capitalization of $106.24 billion, a PE ratio of 17.49, a price-to-earnings-growth ratio of 1.86 and a beta of 0.84. The firm’s 50-day moving average is $54.99 and its two-hundred day moving average is $57.41. The Toronto-Dominion Bank has a 12 month low of $51.25 and a 12 month high of $64.91.

Toronto-Dominion Bank Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 10th were given a dividend of $0.7482 per share. This represents a $2.99 annualized dividend and a dividend yield of 4.93%. The ex-dividend date of this dividend was Friday, January 10th. This is a positive change from Toronto-Dominion Bank’s previous quarterly dividend of $0.74. Toronto-Dominion Bank’s payout ratio is presently 84.15%.

Analysts Set New Price Targets

TD has been the subject of several recent research reports. Scotiabank downgraded Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research note on Friday, December 6th. Bank of America raised shares of Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a research note on Friday, January 17th. BMO Capital Markets raised shares of Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a research note on Thursday, December 19th. Desjardins lowered shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Finally, Royal Bank of Canada dropped their price target on Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating for the company in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Toronto-Dominion Bank currently has an average rating of “Hold” and a consensus target price of $80.50.

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.