Toronto Dominion Bank (The) $TD Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc decreased its holdings in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 9.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 14,153,384 shares of the bank’s stock after selling 1,433,690 shares during the period. Toronto Dominion Bank makes up approximately 3.2% of CIBC Asset Management Inc’s holdings, making the stock its 4th largest position. CIBC Asset Management Inc owned approximately 0.84% of Toronto Dominion Bank worth $1,338,985,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. CBIZ Investment Advisory Services LLC acquired a new stake in shares of Toronto Dominion Bank during the fourth quarter worth about $34,000. Smartleaf Asset Management LLC boosted its stake in shares of Toronto Dominion Bank by 660.9% during the second quarter. Smartleaf Asset Management LLC now owns 525 shares of the bank’s stock worth $38,000 after buying an additional 456 shares during the period. Cornerstone Planning Group LLC boosted its stake in shares of Toronto Dominion Bank by 177.9% during the fourth quarter. Cornerstone Planning Group LLC now owns 428 shares of the bank’s stock worth $40,000 after buying an additional 274 shares during the period. Sound Income Strategies LLC boosted its stake in shares of Toronto Dominion Bank by 80.6% during the fourth quarter. Sound Income Strategies LLC now owns 466 shares of the bank’s stock worth $44,000 after buying an additional 208 shares during the period. Finally, Murphy & Mullick Capital Management Corp acquired a new stake in shares of Toronto Dominion Bank during the third quarter worth about $48,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

Analyst Ratings Changes

TD has been the subject of several recent research reports. Scotiabank raised Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Monday, May 4th. Zacks Research downgraded Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Royal Bank Of Canada increased their price target on Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an “outperform” rating in a report on Monday. Canadian Imperial Bank of Commerce downgraded Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th. Finally, Weiss Ratings downgraded Toronto Dominion Bank from a “buy (a-)” rating to a “buy (b+)” rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Toronto Dominion Bank currently has a consensus rating of “Moderate Buy” and a consensus price target of $156.00.

Toronto Dominion Bank Price Performance

TD stock opened at $113.16 on Wednesday. The firm has a 50 day moving average of $103.58 and a 200-day moving average of $96.36. Toronto Dominion Bank has a 12-month low of $69.08 and a 12-month high of $114.26. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09. The company has a market cap of $186.99 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 1.22 and a beta of 0.72.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.11. The company had revenue of $11.80 billion during the quarter, compared to the consensus estimate of $11.04 billion. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. The company’s revenue for the quarter was down 31.1% on a year-over-year basis. During the same period last year, the firm earned $1.97 EPS. As a group, equities analysts expect that Toronto Dominion Bank will post 6.92 EPS for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 10th will be paid a dividend of $1.12 per share. This is a boost from Toronto Dominion Bank’s previous quarterly dividend of $1.08. The ex-dividend date of this dividend is Friday, July 10th. This represents a $4.48 annualized dividend and a dividend yield of 4.0%. Toronto Dominion Bank’s dividend payout ratio is presently 48.52%.

Toronto Dominion Bank Profile

Toronto-Dominion Bank (TD) is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. Formed through the 1955 merger of the Bank of Toronto (founded 1855) and the Dominion Bank (founded 1869), TD is one of Canada’s largest banks and offers a broad range of financial products and services to individual, small business, commercial and institutional clients.

TD’s core businesses include Canadian and U.S. personal and commercial banking, wealth management, wholesale banking and insurance.