CIBC Asset Management Inc Lowers Stock Position in Toronto Dominion Bank (The) $TD

CIBC Asset Management Inc reduced its stake in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 5.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 15,587,074 shares of the bank’s stock after selling 845,181 shares during the period. Toronto Dominion Bank comprises 3.6% of CIBC Asset Management Inc’s investment portfolio, making the stock its 2nd biggest position. CIBC Asset Management Inc owned approximately 0.92% of Toronto Dominion Bank worth $1,248,759,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. True Wealth Design LLC purchased a new position in Toronto Dominion Bank in the third quarter valued at approximately $27,000. Mather Group LLC. bought a new stake in shares of Toronto Dominion Bank in the third quarter valued at $30,000. Quaker Wealth Management LLC lifted its position in shares of Toronto Dominion Bank by 200.0% during the 2nd quarter. Quaker Wealth Management LLC now owns 428 shares of the bank’s stock valued at $31,000 after buying an additional 856 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new position in shares of Toronto Dominion Bank during the 2nd quarter worth $32,000. Finally, Sachetta LLC purchased a new stake in Toronto Dominion Bank in the 3rd quarter worth about $33,000. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Toronto Dominion Bank Price Performance

Shares of NYSE:TD opened at $95.14 on Friday. The company has a 50 day moving average of $90.39 and a 200 day moving average of $81.76. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.09. The stock has a market cap of $159.67 billion, a P/E ratio of 11.29, a P/E/G ratio of 1.33 and a beta of 0.67. Toronto Dominion Bank has a 12 month low of $54.14 and a 12 month high of $96.44.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings results on Thursday, December 4th. The bank reported $1.56 EPS for the quarter, beating the consensus estimate of $1.46 by $0.10. The firm had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $10.10 billion. Toronto Dominion Bank had a net margin of 16.52% and a return on equity of 13.90%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same period last year, the firm earned $1.72 EPS. As a group, sell-side analysts forecast that Toronto Dominion Bank will post 5.48 EPS for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, January 31st. Investors of record on Friday, January 9th will be given a dividend of $1.08 per share. The ex-dividend date is Friday, January 9th. This is a positive change from Toronto Dominion Bank’s previous quarterly dividend of $1.05. This represents a $4.32 annualized dividend and a yield of 4.5%. Toronto Dominion Bank’s dividend payout ratio (DPR) is presently 37.25%.

Analyst Ratings Changes

Several research firms have commented on TD. National Bank Financial raised shares of Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a report on Thursday, December 18th. Weiss Ratings reissued a “buy (b)” rating on shares of Toronto Dominion Bank in a research report on Wednesday. Raymond James Financial raised shares of Toronto Dominion Bank to a “hold” rating in a report on Monday, November 24th. Jefferies Financial Group lowered shares of Toronto Dominion Bank from a “buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Finally, Royal Bank Of Canada upgraded Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research report on Friday, October 3rd. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Toronto Dominion Bank presently has an average rating of “Moderate Buy” and a consensus price target of $93.00.

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.