Rockefeller Capital Management L.P. Sells Shares in The Toronto-Dominion Bank

Rockefeller Capital Management L.P. has reported a reduction of its stake in The Toronto-Dominion Bank (NYSE:TD) by 8.1% during the third quarter, according to its latest 13F filing with the Securities and Exchange Commission (SEC). After selling 2,441 shares in the period, Rockefeller Capital Management L.P. now holds 27,835 shares of the bank's stock, which were valued at approximately $1.76 million by the end of the quarter.

Additionally, several other institutional investors have been active in trading Toronto-Dominion Bank shares. For instance, Northwest & Ethical Investments L.P. increased its holdings in the bank by 2.4% during the same quarter, raising its total to 675,492 shares worth around $42.72 million, following an acquisition of 15,513 additional shares. Similarly, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in the bank by 1.6%, now owning 686,551 shares valued at $43.46 million after purchasing 11,139 more shares.

CreativeOne Wealth LLC also entered a new position in the bank, investing about $227,000, while Healthcare of Ontario Pension Plan Trust Fund significantly increased its position by 61.1%, bringing its total to 6,011,579 shares valued at $380.12 million after acquiring an impressive 2,279,864 shares in the last quarter. Glenmede Trust Co. NA similarly enhanced its stake by 13.3%, now owning 10,181 shares valued at $644,000 after acquiring 1,195 additional shares. In total, institutional investors and hedge funds collectively own 52.37% of The Toronto-Dominion Bank's stock.

Analyst Ratings and Opinions

Several analysts have recently shared their insights on the stock of The Toronto-Dominion Bank. Barclays, for example, downgraded the bank's stock from an "equal weight" to an "underweight" rating on November 21st. Concurrently, Scotiabank reduced its rating from "sector outperform" to "sector perform." The Royal Bank of Canada adjusted its target price on TD shares down from $82.00 to $77.00 while maintaining a "sector perform" rating. Furthermore, StockNews.com lowered its recommendation from a "hold" to a "sell" on August 22nd, and Desjardins adjusted its rating from a "buy" to a "hold" on Friday. Currently, the stock has received two sell ratings, eight hold ratings, and one strong buy rating, resulting in a consensus rating of "Hold" and a target price estimate of $80.50, according to MarketBeat.com.

Current Financial Performance of Toronto-Dominion Bank

As of last Friday, TD's shares opened at $51.96. The bank currently has a current ratio of 1.02 and a quick ratio of 1.02, with a debt-to-equity ratio of 0.10. The total market capitalization stands at $90.94 billion, with a price-to-earnings ratio of 14.97 and a price/earnings to growth (P/E/G) ratio of 1.86. Over the past year, TD shares have fluctuated between a low of $51.74 and a high of $65.12, with the 50-day moving average at $57.30 and a 200-day moving average price of $57.64.

Dividend Announcement by Toronto-Dominion Bank

The Toronto-Dominion Bank recently announced a quarterly dividend, which shareholders will receive on January 31st. Those on record as of January 10th will receive a dividend of $0.7482 per share, an increase over the previous dividend of $0.74. This new dividend amounts to an annualized total of $2.99 with a yield of 5.76%. The ex-dividend date is scheduled for January 10th, and the bank's dividend payout ratio is at 87.03%.

Overview of Toronto-Dominion Bank

The Toronto-Dominion Bank, along with its subsidiaries, offers diverse financial products and services across Canada, the United States, and globally. It operates through four primary segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.

Finance, Investment, Shares