Kohmann Bosshard Financial Services LLC Makes New Investment in The Toronto-Dominion Bank (NYSE:TD)

Kohmann Bosshard Financial Services LLC purchased a new stake in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,310 shares of the bank’s stock, valued at approximately $176,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its stake in 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 valued at $854,815,000 after purchasing an additional 2,689,532 shares during the period. Healthcare of Ontario Pension Plan Trust Fund boosted its position 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 acquiring an additional 2,279,864 shares during the period. Quadrature Capital Ltd grew its stake in Toronto-Dominion Bank by 175.5% during the 3rd 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 in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Toronto-Dominion Bank by 64.6% in the 3rd 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 purchasing an additional 892,183 shares during the period. Finally, CIBC Asset Management Inc lifted its position 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 purchasing an additional 853,313 shares in the last quarter. Institutional investors and hedge funds own 52.37% of the company’s stock.

Toronto-Dominion Bank Stock Performance

Shares of NYSE TD opened at $59.89 on Monday. The business’s 50-day simple moving average is $56.78 and its 200-day simple moving average is $57.64. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.03 and a current ratio of 1.03. The Toronto-Dominion Bank has a 52 week low of $51.25 and a 52 week high of $64.91. The firm has a market cap of $104.94 billion, a price-to-earnings ratio of 17.26, a P/E/G ratio of 1.95 and a beta of 0.84.

Toronto-Dominion Bank Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th will be given a $0.7278 dividend. This represents a $2.91 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date is Thursday, April 10th. Toronto-Dominion Bank’s dividend payout ratio is 84.71%.

Analysts Set New Price Targets

TD has been the topic of a number of research analyst reports. Royal Bank of Canada lowered their price objective on shares of Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating on the stock in a research report on Friday, December 6th. Jefferies Financial Group cut shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Tuesday, February 18th. Barclays lowered Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a report on Thursday, November 21st. Desjardins downgraded Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a report on Friday, December 6th. Finally, Bank of America upgraded shares of Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a research note on Friday, January 17th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $80.50.

About Toronto-Dominion Bank

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.