CIBC Asset Management Inc Has $1.05 Billion Position in The Toronto-Dominion Bank (NYSE:TD)

CIBC Asset Management Inc increased its holdings in The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD by 5.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,515,643 shares of the bank's stock after purchasing an additional 853,313 shares during the period. Toronto-Dominion Bank makes up about 3.4% of CIBC Asset Management Inc's investment portfolio, making the stock its 2nd largest position. CIBC Asset Management Inc owned about 0.94% of Toronto-Dominion Bank worth $1,046,825,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Triad Wealth Partners LLC purchased a new stake in shares of Toronto-Dominion Bank during the 2nd quarter worth $31,000. Blue Trust Inc. increased its stake in shares of Toronto-Dominion Bank by 50.7% during the second quarter. Blue Trust Inc. now owns 630 shares of the bank's stock worth $38,000 after purchasing an additional 212 shares in the last quarter. Kimelman & Baird LLC purchased a new stake in shares of Toronto-Dominion Bank during the second quarter worth approximately $49,000. BOKF NA boosted its position 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 buying an additional 680 shares during the period. Finally, Eastern Bank acquired a new stake in shares of Toronto-Dominion Bank during the third quarter worth about $66,000. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Toronto-Dominion Bank Price Performance

Shares of NYSE:TD traded down $0.58 during trading on Friday, reaching $56.04. The company had a trading volume of 853,917 shares, compared to its average volume of 2,753,072. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02. The firm's fifty day moving average is $59.55 and its 200 day moving average is $57.77. The Toronto-Dominion Bank has a twelve month low of $53.52 and a twelve month high of $65.12. The firm has a market capitalization of $97.99 billion, a PE ratio of 18.06, a price-to-earnings-growth ratio of 1.59 and a beta of 0.82.

Toronto-Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last announced its quarterly earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.56. The business had revenue of $14.18 billion during the quarter, compared to analyst estimates of $9.40 billion. Toronto-Dominion Bank had a return on equity of 14.34% and a net margin of 6.94%. The firm's revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.48 EPS. 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 company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were issued a dividend of $0.739 per share. This represents a $2.96 annualized dividend and a dividend yield of 5.27%. The ex-dividend date was Thursday, October 10th. Toronto-Dominion Bank's payout ratio is 96.17%.

Toronto-Dominion Bank Company Profile

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.