Frank Rimerman Advisors LLC Raises Holdings in The Toronto-Dominion Bank (NYSE:TD)

Frank Rimerman Advisors LLC lifted its stake in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 3.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,446 shares of the bank’s stock after buying an additional 171 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Toronto-Dominion Bank were worth $290,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Pathstone Holdings LLC raised its holdings in Toronto-Dominion Bank by 0.8% in the 3rd quarter. Pathstone Holdings LLC now owns 22,309 shares of the bank’s stock worth $1,411,000 after purchasing an additional 184 shares during the period. Passumpsic Savings Bank raised its holdings in Toronto-Dominion Bank by 2.6% in the 3rd quarter. Passumpsic Savings Bank now owns 7,530 shares of the bank’s stock worth $476,000 after purchasing an additional 194 shares during the period. Versant Capital Management Inc raised its holdings in Toronto-Dominion Bank by 40.0% in the 4th quarter. Versant Capital Management Inc now owns 700 shares of the bank’s stock worth $37,000 after purchasing an additional 200 shares during the period. Cardinal Capital Management raised its holdings in Toronto-Dominion Bank by 0.5% in the 4th quarter. Cardinal Capital Management now owns 44,685 shares of the bank’s stock worth $2,379,000 after purchasing an additional 205 shares during the period. Finally, Dunhill Financial LLC raised its holdings in Toronto-Dominion Bank by 164.9% in the 3rd quarter. Dunhill Financial LLC now owns 400 shares of the bank’s stock worth $25,000 after purchasing an additional 249 shares during the period. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Analyst Upgrades and Downgrades

TD has been the subject of a number of research analyst reports. Scotiabank cut Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a report on Friday, December 6th. Barclays cut Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a report on Thursday, November 21st. Jefferies Financial Group lowered Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. StockNews.com lowered Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Monday, February 24th. Finally, BMO Capital Markets upgraded Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Thursday, December 19th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $80.50.

Toronto-Dominion Bank Price Performance

TD stock opened at $59.76 on Tuesday. The company has a market capitalization of $104.70 billion, a P/E ratio of 17.22, a PEG ratio of 1.95 and a beta of 0.83. The Toronto-Dominion Bank has a twelve month low of $51.25 and a twelve month high of $64.91. The business has a 50 day simple moving average of $58.02 and a 200-day simple moving average of $57.61. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.11.

Toronto-Dominion Bank Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th will be issued a $0.7278 dividend. This represents a $2.91 annualized dividend and a dividend yield of 4.87%. The ex-dividend date is Thursday, April 10th. Toronto-Dominion Bank’s payout ratio is currently 85.29%.

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.