Arete Wealth Advisors LLC reduced its stake in shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 9.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,946 shares of the bank’s stock after selling 598 shares during the period. Arete Wealth Advisors LLC’s holdings in Toronto-Dominion Bank were worth $296,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Baird Financial Group Inc. boosted its holdings in shares of Toronto-Dominion Bank by 4.5% during the 3rd quarter. Baird Financial Group Inc. now owns 546,045 shares of the bank’s stock worth $33,160,000 after purchasing an additional 23,615 shares during the last quarter. Norway Savings Bank boosted its holdings in shares of Toronto-Dominion Bank by 34.5% during the 4th quarter. Norway Savings Bank now owns 1,479 shares of the bank’s stock worth $74,000 after purchasing an additional 379 shares during the last quarter. Resources Management Corp CT ADV acquired a new position in Toronto-Dominion Bank in the third quarter valued at approximately $11,398,000. LVM Capital Management Ltd. MI lifted its holdings in Toronto-Dominion Bank by 0.9% in the fourth quarter. LVM Capital Management Ltd. MI now owns 189,747 shares of the bank’s stock valued at $9,434,000 after acquiring an additional 1,625 shares during the last quarter. Finally, Monte Financial Group LLC acquired a new position in Toronto-Dominion Bank in the fourth quarter valued at approximately $1,275,000. Institutional investors and hedge funds own 48.20% of the company’s stock.
TD has been the topic of a number of recent analyst reports. Zacks Investment Research cut Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Thursday, November 22nd. Canaccord Genuity reiterated a “buy” rating on shares of Toronto-Dominion Bank in a report on Thursday, November 22nd. Barclays reiterated a “hold” rating on shares of Toronto-Dominion Bank in a report on Thursday, November 29th. TheStreet cut Toronto-Dominion Bank from a “b-” rating to a “c” rating in a report on Thursday, November 29th. Finally, Royal Bank of Canada reiterated a “hold” rating on shares of Toronto-Dominion Bank in a report on Monday, December 3rd. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $60.00.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Wednesday, April 10th will be issued a $0.564 dividend. The ex-dividend date is Tuesday, April 9th. This is a boost from Toronto-Dominion Bank’s previous quarterly dividend of $0.51. This represents a $2.26 dividend on an annualized basis and a yield of 3.97%. Toronto-Dominion Bank’s dividend payout ratio is currently 39.17%.
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About Toronto-Dominion Bank
The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. The company operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. It offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; financing options to customers at point of sale for automotive and recreational vehicle purchases through auto dealer network; credit cards; investing, advice-based, and asset management services to retail and institutional clients; and property and casualty insurance, as well as life and health insurance products.
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