Pictet Asset Management Holding SA Grows Holdings in The Toronto-Dominion Bank (NYSE:TD)

Pictet Asset Management Holding SA raised its position in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 18.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 950,182 shares of the bank’s stock after purchasing an additional 148,685 shares during the period. Pictet Asset Management Holding SA’s holdings in Toronto-Dominion Bank were worth $50,561,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Cerity Partners LLC boosted its stake in shares of Toronto-Dominion Bank by 57.1% in the third quarter. Cerity Partners LLC now owns 26,755 shares of the bank’s stock worth $1,693,000 after acquiring an additional 9,725 shares during the period. FMR LLC grew its holdings in Toronto-Dominion Bank by 9.9% during the 3rd quarter. FMR LLC now owns 6,553,761 shares of the bank’s stock valued at $414,417,000 after buying an additional 587,947 shares in the last quarter. D.A. Davidson & CO. raised its position in shares of Toronto-Dominion Bank by 2.6% during the third quarter. D.A. Davidson & CO. now owns 11,904 shares of the bank’s stock valued at $753,000 after buying an additional 304 shares during the last quarter. Townsquare Capital LLC purchased a new position in shares of Toronto-Dominion Bank in the third quarter worth $612,000. Finally, Glenmede Trust Co. NA boosted its position in shares of Toronto-Dominion Bank by 13.3% during the third quarter. Glenmede Trust Co. NA now owns 10,181 shares of the bank’s stock worth $644,000 after acquiring an additional 1,195 shares during the last quarter. 52.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on TD. Royal Bank of Canada decreased their price target on shares of Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating on the stock in a research note on Friday, December 6th. StockNews.com lowered Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Monday, February 24th. Bank of America raised Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a research note on Friday, January 17th. Desjardins downgraded Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Friday, December 6th. Finally, Scotiabank cut shares of Toronto-Dominion Bank from a “sector outperform” rating to a “sector perform” rating in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Toronto-Dominion Bank presently has an average rating of “Hold” and a consensus price target of $80.50.

Toronto-Dominion Bank Price Performance

NYSE:TD opened at $60.31 on Friday. The firm has a market capitalization of $105.67 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 1.95 and a beta of 0.83. 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 business has a 50 day simple moving average of $58.99 and a 200-day simple moving average of $57.64. 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 company 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 4.83%. The ex-dividend date of this dividend is Thursday, April 10th. Toronto-Dominion Bank’s payout ratio is 85.29%.

Toronto-Dominion Bank Company 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.