Charles Schwab Investment Management Inc. Purchases 196,024 Shares of The Toronto-Dominion Bank (NYSE:TD)

Charles Schwab Investment Management Inc. raised its position in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 4.0% during the fourth quarter, Holdings Channel reports. The firm owned 5,067,081 shares of the bank’s stock after purchasing an additional 196,024 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Toronto-Dominion Bank were worth $269,637,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of TD. CIBC Asset Management Inc boosted its position in Toronto-Dominion Bank by 0.4% during the fourth quarter. CIBC Asset Management Inc now owns 16,575,599 shares of the bank’s stock valued at $882,241,000 after acquiring an additional 59,956 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Toronto-Dominion Bank by 24.9% in 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. Massachusetts Financial Services Co. MA boosted its position in shares of Toronto-Dominion Bank by 2.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 12,186,545 shares of the bank’s stock valued at $770,921,000 after purchasing an additional 301,649 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in Toronto-Dominion Bank by 1.5% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,761,308 shares of the bank’s stock worth $617,166,000 after purchasing an additional 144,427 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Toronto-Dominion Bank by 6.4% in the third quarter. Geode Capital Management LLC now owns 7,962,173 shares of the bank’s stock worth $506,846,000 after purchasing an additional 479,624 shares in the last quarter. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Toronto-Dominion Bank Price Performance

Shares of NYSE TD opened at $59.30 on Thursday. The stock has a market cap of $103.90 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 1.95 and a beta of 0.83. The Toronto-Dominion Bank has a fifty-two week low of $51.25 and a fifty-two week high of $64.91. The firm’s 50-day simple moving average is $57.15 and its 200 day simple moving average is $57.66. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.03 and a current ratio of 1.03.

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 annualized dividend and a yield of 4.91%. The ex-dividend date is Thursday, April 10th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 85.29%.

Wall Street Analysts Forecast Growth

TD has been the subject of several recent analyst reports. Desjardins downgraded shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Bank of America upgraded shares of Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a report on Friday, January 17th. StockNews.com cut shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Monday, February 24th. Royal Bank of Canada decreased their target price 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. Finally, Barclays downgraded Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a research note on Thursday, November 21st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Toronto-Dominion Bank currently has a consensus rating of “Hold” and an average 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.