Guardian Partners Inc. Invests $38.33 Million in The Toronto-Dominion Bank

Guardian Partners Inc. has recently acquired a significant stake in The Toronto-Dominion Bank (NYSE:TD, TSE:TD) during the fourth quarter, as documented in the latest Form 13F submitted to the SEC. The investment involved the purchase of 707,525 shares, which amounts to approximately $38,332,000. This investment represents about 3.9% of Guardian Partners Inc.'s total holdings, making Toronto-Dominion Bank its second largest position.

In addition, other institutional investors and hedge funds have been adjusting their positions in Toronto-Dominion Bank. For example, Asahi Life Asset Management CO. LTD. established a new position valued at around $416,000 during the fourth quarter. Cerity Partners LLC increased its stake by 57.1% in the third quarter, now holding 26,755 shares valued at approximately $1,693,000 after purchasing an additional 9,725 shares. Similarly, the Healthcare of Ontario Pension Plan Trust Fund raised its holdings by 61.1%, totaling 6,011,579 shares valued at $380,118,000 after adding 2,279,864 shares during the same period. FMR LLC also grew its interest by 9.9%, holding 6,553,761 shares worth $414,417,000 after acquiring an additional 587,947 shares. Finally, Nicola Wealth Management LTD. increased its investment by 15.5%, owning 510,002 shares valued at $27,153,000 after buying an additional 68,400 shares last quarter. Overall, institutional investors hold about 52.37% of the stock.

Analyst Ratings and Market Outlook

Recent commentary from analysts has influenced sentiments around TD shares. BMO Capital Markets has upgraded its rating from "market perform" to "outperform". Similarly, Bank of America raised their rating from "neutral" to "buy". Meanwhile, Royal Bank of Canada has adjusted its target price from $82.00 down to $77.00, maintaining a "sector perform" rating. Jefferies Financial Group downgraded the bank's rating from "buy" to "hold", and StockNews.com has lowered its rating from "hold" to "sell". Currently, two analysts recommend a sell rating, six suggest holding, two advocate buying, and one gives a strong buy rating to the stock. Data from MarketBeat indicates that Toronto-Dominion Bank holds a consensus rating of "Hold" with a price target of $80.50.

Stock Performance Overview

The Toronto-Dominion Bank’s stock opened at $59.50 recently. It has a 50-day moving average of $58.46 and a 200-day moving average of $57.63. Over the past year, shares have fluctuated between a low of $51.25 and a high of $64.91. The bank has a current ratio of 1.03, a quick ratio of 1.03, and a low debt-to-equity ratio of 0.11. Presently, its market capitalization stands at $104.25 billion, with a PE ratio of 17.15 and a price-to-earnings-growth ratio of 1.95, indicating moderate growth expectations and a beta of 0.83, which reflects lower volatility compared to the market.

Dividend Declaration

Recently, the Toronto-Dominion Bank announced a quarterly dividend, which is scheduled to be paid on April 30th. Shareholders recorded on April 10th will receive a dividend of $0.7278 per share. This annualizes to a dividend of $2.91, resulting in a yield of 4.89%. The bank's current dividend payout ratio is 85.29%.

Company Overview

The Toronto-Dominion Bank operates as a diversified financial institution offering a variety of banking services in Canada, the United States, and internationally. It has four main segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.

Investment, Banking, Finance