Toronto Dominion Bank (The) $TD is Cidel Asset Management Inc.’s 5th Largest Position

Cidel Asset Management Inc. increased its position in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 184.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 572,742 shares of the bank’s stock after purchasing an additional 371,138 shares during the quarter. Toronto Dominion Bank accounts for approximately 2.9% of Cidel Asset Management Inc.’s investment portfolio, making the stock its 5th largest holding. Cidel Asset Management Inc.’s holdings in Toronto Dominion Bank were worth $53,320,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of TD. Bayban purchased a new position in Toronto Dominion Bank during the 4th quarter worth approximately $28,000. Harvest Fund Management Co. Ltd lifted its stake in Toronto Dominion Bank by 112.8% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 317 shares of the bank’s stock valued at $30,000 after acquiring an additional 168 shares during the period. CBIZ Investment Advisory Services LLC purchased a new stake in shares of Toronto Dominion Bank in the 4th quarter valued at $34,000. Cornerstone Planning Group LLC boosted its holdings in shares of Toronto Dominion Bank by 177.9% in the 4th quarter. Cornerstone Planning Group LLC now owns 428 shares of the bank’s stock valued at $40,000 after acquiring an additional 274 shares during the last quarter. Finally, Sound Income Strategies LLC increased its stake in shares of Toronto Dominion Bank by 80.6% in the fourth quarter. Sound Income Strategies LLC now owns 466 shares of the bank’s stock worth $44,000 after acquiring an additional 208 shares during the period. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Toronto Dominion Bank Price Performance

NYSE:TD opened at $119.44 on Wednesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. The company has a 50 day moving average price of $110.41 and a 200-day moving average price of $100.16. Toronto Dominion Bank has a 1-year low of $71.30 and a 1-year high of $120.27. The firm has a market cap of $197.37 billion, a price-to-earnings ratio of 18.63, a price-to-earnings-growth ratio of 1.32 and a beta of 0.72.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.11. The firm had revenue of $11.80 billion for the quarter, compared to the consensus estimate of $11.04 billion. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. The firm’s quarterly revenue was down 31.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.97 earnings per share. Equities research analysts forecast that Toronto Dominion Bank will post 6.92 EPS for the current year.

Toronto Dominion Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 10th will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, July 10th. This is an increase from Toronto Dominion Bank’s previous quarterly dividend of $1.08. Toronto Dominion Bank’s dividend payout ratio is currently 50.55%.

Analyst Upgrades and Downgrades

TD has been the subject of several recent research reports. Zacks Research cut shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Scotiabank raised Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, May 4th. Weiss Ratings lowered Toronto Dominion Bank from a “buy (b+)” rating to a “buy (b)” rating in a research note on Thursday, June 11th. Raymond James Financial raised Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 12th. Finally, Royal Bank Of Canada upped their target price on Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Toronto Dominion Bank has an average rating of “Moderate Buy” and an average target price of $156.00.

Toronto Dominion Bank Company 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.