Canoe Financial LP Reduces Stock Holdings in Toronto Dominion Bank (The) $TD

Canoe Financial LP lessened its stake in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 98.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,747 shares of the bank’s stock after selling 710,366 shares during the period. Canoe Financial LP’s holdings in Toronto Dominion Bank were worth $1,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the company. Prime Capital Investment Advisors LLC increased its position in Toronto Dominion Bank by 433.7% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 16,218 shares of the bank’s stock valued at $1,528,000 after acquiring an additional 13,179 shares during the period. Alberta Investment Management Corp acquired a new stake in Toronto Dominion Bank in the fourth quarter valued at about $299,850,000. JCIC Asset Management Inc. increased its position in Toronto Dominion Bank by 891.5% during the 4th quarter. JCIC Asset Management Inc. now owns 85,248 shares of the bank’s stock worth $8,035,000 after purchasing an additional 76,650 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of Toronto Dominion Bank in the 2nd quarter valued at approximately $259,000. Finally, LRT Capital Management LLC acquired a new stake in shares of Toronto Dominion Bank in the 3rd quarter valued at approximately $3,865,000. 52.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TD has been the subject of several research analyst reports. Zacks Research cut Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. Scotiabank raised shares of Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Monday, May 4th. Wall Street Zen cut shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Royal Bank Of Canada lifted their price target on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the company an “outperform” rating in a research report on Monday, June 1st. Finally, Weiss Ratings cut Toronto Dominion Bank from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $156.00.

Toronto Dominion Bank Price Performance

TD stock opened at $119.81 on Monday. The stock’s 50 day moving average price is $111.40 and its 200 day moving average price is $100.84. The firm has a market cap of $197.98 billion, a P/E ratio of 18.69, a PEG ratio of 1.33 and a beta of 0.72. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.04 and a current ratio of 1.04. Toronto Dominion Bank has a 1 year low of $72.04 and a 1 year high of $120.98.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.11. Toronto Dominion Bank had a return on equity of 14.83% and a net margin of 13.20%.The company had revenue of $11.80 billion during the quarter, compared to analysts’ expectations of $11.04 billion. During the same period in the previous year, the firm posted $1.97 earnings per share. The business’s revenue for the quarter was down 31.1% compared to the same quarter last year. On average, sell-side analysts expect that Toronto Dominion Bank will post 6.86 earnings per share for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 10th will be given a dividend of $1.12 per share. The ex-dividend date is Friday, July 10th. This represents a $4.48 dividend on an annualized basis and a yield of 3.7%. This is a boost from Toronto Dominion Bank’s previous quarterly dividend of $1.08. Toronto Dominion Bank’s dividend payout ratio (DPR) is 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.