CIBC Asset Management Inc Acquires 853,313 Shares of The Toronto-Dominion Bank (NYSE:TD)

CIBC Asset Management Inc raised its holdings in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 5.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,515,643 shares of the bank’s stock after acquiring an additional 853,313 shares during the quarter. Toronto-Dominion Bank makes up 3.4% of CIBC Asset Management Inc’s investment portfolio, making the stock its 2nd biggest holding. CIBC Asset Management Inc owned about 0.94% of Toronto-Dominion Bank worth $1,046,825,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in shares of Toronto-Dominion Bank by 61.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,806,974 shares of the bank’s stock valued at $319,151,000 after purchasing an additional 2,215,185 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Toronto-Dominion Bank by 31.7% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 9,102,035 shares of the bank’s stock valued at $549,550,000 after acquiring an additional 2,188,263 shares during the period. National Bank of Canada FI grew its position in shares of Toronto-Dominion Bank by 6.2% during the first quarter. National Bank of Canada FI now owns 29,655,117 shares of the bank’s stock worth $1,677,917,000 after acquiring an additional 1,736,931 shares during the last quarter. 1832 Asset Management L.P. grew its position in shares of Toronto-Dominion Bank by 6.0% during the second quarter. 1832 Asset Management L.P. now owns 25,803,480 shares of the bank’s stock worth $1,418,159,000 after acquiring an additional 1,462,794 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Toronto-Dominion Bank by 17.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 8,175,457 shares of the bank’s stock valued at $493,880,000 after acquiring an additional 1,238,502 shares during the period. 52.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TD has been the subject of a number of research reports. StockNews.com cut shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Thursday, August 22nd. Royal Bank of Canada downgraded Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research note on Friday, October 11th. Finally, National Bank Financial upgraded Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research note on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Toronto-Dominion Bank presently has a consensus rating of “Hold” and an average target price of $84.00.

Toronto-Dominion Bank Stock Performance

Shares of TD stock opened at $56.64 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10. The stock has a 50 day simple moving average of $59.63 and a 200-day simple moving average of $57.78. The company has a market cap of $99.03 billion, a price-to-earnings ratio of 18.09, a price-to-earnings-growth ratio of 1.59 and a beta of 0.82. The Toronto-Dominion Bank has a 12-month low of $53.52 and a 12-month high of $65.12.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings data on Thursday, August 22nd. The bank reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.56. Toronto-Dominion Bank had a return on equity of 14.34% and a net margin of 6.94%. The firm had revenue of $14.18 billion during the quarter, compared to analysts’ expectations of $9.40 billion. During the same quarter in the prior year, the business posted $1.48 earnings per share. Toronto-Dominion Bank’s revenue was up 9.8% compared to the same quarter last year. On average, equities analysts forecast that The Toronto-Dominion Bank will post 5.8 EPS for the current year.

Toronto-Dominion Bank Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th were given a dividend of $0.739 per share. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $2.96 annualized dividend and a yield of 5.22%. Toronto-Dominion Bank’s payout ratio is currently 96.49%.

About Toronto-Dominion Bank

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.