The Toronto-Dominion Bank (NYSE:TD) Shares Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its holdings in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 5.4% during the third quarter, Holdings Channel.com reports. The fund owned 16,515,643 shares of the bank’s stock after acquiring an additional 853,313 shares during the period. Toronto-Dominion Bank accounts for 3.4% of CIBC Asset Management Inc’s investment portfolio, making the stock its 2nd largest holding. CIBC Asset Management Inc’s holdings in Toronto-Dominion Bank were worth $1,046,825,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in TD. Triad Wealth Partners LLC purchased a new position in Toronto-Dominion Bank in the 2nd quarter valued at about $31,000. Blue Trust Inc. grew its stake in Toronto-Dominion Bank by 50.7% in the 2nd quarter. Blue Trust Inc. now owns 630 shares of the bank’s stock worth $38,000 after acquiring an additional 212 shares during the period. Kimelman & Baird LLC purchased a new position in shares of Toronto-Dominion Bank during the 2nd quarter worth $49,000. BOKF NA boosted its holdings in shares of Toronto-Dominion Bank by 203.6% during the first quarter. BOKF NA now owns 1,014 shares of the bank’s stock worth $61,000 after purchasing an additional 680 shares during the last quarter. Finally, Eastern Bank acquired a new position in Toronto-Dominion Bank in the third quarter valued at $66,000. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Toronto-Dominion Bank Price Performance

TD opened at $56.64 on Friday. The Toronto-Dominion Bank has a 52-week low of $53.52 and a 52-week high of $65.12. The company has a 50 day moving average of $59.63 and a two-hundred day moving average of $57.78. The company has a market cap of $99.03 billion, a P/E ratio of 18.09, a P/E/G ratio of 1.59 and a beta of 0.82. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.10.

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

Toronto-Dominion Bank Cuts Dividend

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

Analyst Upgrades and Downgrades

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

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.