Canoe Financial LP Trims Position in Toronto Dominion Bank (The) $TD

Canoe Financial LP lowered its position in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 98.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,747 shares of the bank’s stock after selling 710,366 shares during the quarter. Canoe Financial LP’s holdings in Toronto Dominion Bank were worth $1,003,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of TD. Bayban purchased a new position in Toronto Dominion Bank during the fourth quarter worth about $28,000. Harvest Fund Management Co. Ltd grew its holdings in Toronto Dominion Bank by 112.8% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 317 shares of the bank’s stock valued at $30,000 after buying an additional 168 shares during the period. CBIZ Investment Advisory Services LLC purchased a new stake in Toronto Dominion Bank in the 4th quarter valued at about $34,000. Smartleaf Asset Management LLC increased its stake in shares of Toronto Dominion Bank by 660.9% during the 2nd quarter. Smartleaf Asset Management LLC now owns 525 shares of the bank’s stock valued at $38,000 after acquiring an additional 456 shares during the last quarter. Finally, Brown Lisle Cummings Inc. lifted its holdings in shares of Toronto Dominion Bank by 88.4% during the 1st quarter. Brown Lisle Cummings Inc. now owns 407 shares of the bank’s stock worth $38,000 after acquiring an additional 191 shares during the period. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Wall Street Zen downgraded shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Scotiabank raised shares of Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research note on Monday, May 4th. Weiss Ratings lowered shares of Toronto Dominion Bank from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, June 11th. Royal Bank Of Canada boosted their price objective on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. Finally, Zacks Research lowered Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 27th. One research 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $156.00.

Toronto Dominion Bank Stock Up 0.2%

TD opened at $119.81 on Monday. The firm has a 50 day moving average price of $111.40 and a 200 day moving average price of $100.84. The company has a market cap of $197.98 billion, a PE ratio of 18.69, a price-to-earnings-growth ratio of 1.33 and a beta of 0.72. Toronto Dominion Bank has a 1 year low of $72.04 and a 1 year high of $120.98. 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 (NYSE:TD) (TSE:TD) last posted its quarterly earnings results on Thursday, May 28th. The bank reported $1.74 EPS for the quarter, beating the consensus estimate of $1.63 by $0.11. The firm had revenue of $11.80 billion for the quarter, compared to analyst estimates of $11.04 billion. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. Toronto Dominion Bank’s revenue for the quarter was down 31.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.97 earnings per share. Sell-side analysts expect that Toronto Dominion Bank will post 6.86 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The firm 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 $1.12 dividend. The ex-dividend date of this dividend is Friday, July 10th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.7%. This is a boost from Toronto Dominion Bank’s previous quarterly dividend of $1.08. Toronto Dominion Bank’s payout ratio 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.