Ewing Morris & Co. Investment Partners Ltd. Buys Shares of 55,221 The Toronto-Dominion Bank (NYSE:TD)

Ewing Morris & Co. Investment Partners Ltd. purchased a new position in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) in the fourth quarter, HoldingsChannel reports. The firm purchased 55,221 shares of the bank’s stock, valued at approximately $2,940,000. Toronto-Dominion Bank comprises 1.1% of Ewing Morris & Co. Investment Partners Ltd.’s investment portfolio, making the stock its 24th biggest position.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Toronto-Dominion Bank by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 74,118,551 shares of the bank’s stock valued at $3,946,072,000 after buying an additional 1,415,934 shares in the last quarter. FIL Ltd raised its position in shares of Toronto-Dominion Bank by 17.3% during the fourth quarter. FIL Ltd now owns 38,989,749 shares of the bank’s stock worth $2,075,819,000 after purchasing an additional 5,756,584 shares during the period. Norges Bank acquired a new stake in Toronto-Dominion Bank during the 4th quarter worth about $992,204,000. Beutel Goodman & Co Ltd. raised its stake in Toronto-Dominion Bank by 3.8% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 16,803,807 shares of the bank’s stock valued at $894,169,000 after purchasing an additional 622,736 shares during the period. Finally, CIBC Asset Management Inc raised 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 buying an additional 59,956 shares during the period. 52.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TD has been the topic of several research analyst reports. StockNews.com cut shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Monday, February 24th. Jefferies Financial Group lowered shares of Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research report on Tuesday, February 18th. 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 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 stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $80.50.

Toronto-Dominion Bank Stock Performance

Shares of TD stock opened at $63.02 on Friday. The stock has a market cap of $109.39 billion, a PE ratio of 18.16, a price-to-earnings-growth ratio of 1.95 and a beta of 0.81. The stock has a 50-day moving average of $60.08 and a 200-day moving average of $57.46. 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 Toronto-Dominion Bank has a one year low of $51.25 and a one year high of $64.91.

Toronto-Dominion Bank Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Thursday, April 10th were issued a dividend of $0.7278 per share. The ex-dividend date of this dividend was Thursday, April 10th. This represents a $2.91 annualized dividend and a yield of 4.62%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is currently 85.59%.

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.