Canada Pension Plan Investment Board Buys 1,946,172 Shares of Toronto Dominion Bank (The) $TD

Key Points

• Canada Pension Plan Investment Board increased its stake in Toronto Dominion Bank by 18.5% in Q2, buying 1,946,172 shares to hold 12,470,618 shares worth about $917.8 million, making TD its 26th largest holding and ~0.8% of CPPIB's portfolio.
• Other large institutions also adjusted positions—Vanguard added 2.55 million shares to own 77.19 million, Norges Bank initiated a new position valued at roughly $1.54 billion, and overall institutional ownership stands at 52.37%.
• TD reported a quarterly EPS beat ($1.56 vs. $1.46 consensus) and raised its quarterly dividend to $1.08 (annualized $4.32, ~4.7% yield), while trading near its 12‑month high with a market cap of about $155.1 billion and a P/E of 10.89.

Canada Pension Plan Investment Board increased its stake in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 18.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,470,618 shares of the bank's stock after purchasing an additional 1,946,172 shares during the period. Toronto Dominion Bank makes up approximately 0.8% of Canada Pension Plan Investment Board's investment portfolio, making the stock its 26th largest holding. Canada Pension Plan Investment Board owned about 0.73% of Toronto Dominion Bank worth $917,832,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Toronto Dominion Bank by 3.4% during the 2nd quarter. Vanguard Group Inc. now owns 77,187,442 shares of the bank's stock worth $5,677,291,000 after buying an additional 2,552,603 shares during the period. TD Asset Management Inc boosted its stake in Toronto Dominion Bank by 0.9% during the 2nd quarter. TD Asset Management Inc now owns 37,365,008 shares of the bank's stock worth $2,742,748,000 after acquiring an additional 329,429 shares during the last quarter. 1832 Asset Management L.P. boosted its stake in Toronto Dominion Bank by 0.5% during the 2nd quarter. 1832 Asset Management L.P. now owns 22,548,848 shares of the bank's stock worth $1,656,213,000 after acquiring an additional 101,678 shares during the last quarter. Norges Bank acquired a new position in Toronto Dominion Bank during the second quarter valued at approximately $1,543,639,000. Finally, Federation des caisses Desjardins du Quebec increased its stake in Toronto Dominion Bank by 48.9% in the first quarter. Federation des caisses Desjardins du Quebec now owns 14,785,565 shares of the bank's stock valued at $886,174,000 after purchasing an additional 4,853,498 shares in the last quarter. Institutional investors own 52.37% of the company's stock.

Toronto Dominion Bank Trading Up 0.6%

TD opened at $91.80 on Friday. The stock has a market capitalization of $155.10 billion, a P/E ratio of 10.89, a P/E/G ratio of 1.27 and a beta of 0.69. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.09. Toronto Dominion Bank has a 12 month low of $51.25 and a 12 month high of $91.85. The firm's fifty day simple moving average is $82.33 and its 200 day simple moving average is $76.82.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last released its quarterly earnings results on Thursday, December 4th. The bank reported $1.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.10. The firm had revenue of $11.44 billion for the quarter, compared to the consensus estimate of $10.10 billion. Toronto Dominion Bank had a return on equity of 13.90% and a net margin of 16.52%.The company's revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the business posted $1.72 EPS. As a group, research analysts anticipate that Toronto Dominion Bank will post 5.48 EPS for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, January 31st. Investors of record on Friday, January 9th will be given a $1.08 dividend. The ex-dividend date of this dividend is Friday, January 9th. This represents a $4.32 dividend on an annualized basis and a yield of 4.7%. This is a boost from Toronto Dominion Bank's previous quarterly dividend of $1.05. Toronto Dominion Bank's payout ratio is 35.87%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TD. Raymond James Financial raised shares of Toronto Dominion Bank to a "hold" rating in a research report on Monday, November 24th. Royal Bank Of Canada raised Toronto Dominion Bank from a "sector perform" rating to an "outperform" rating in a research note on Friday, October 3rd. Jefferies Financial Group lowered Toronto Dominion Bank from a "buy" rating to a "hold" rating in a report on Tuesday, November 25th. Wall Street Zen raised Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research note on Saturday, November 15th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Toronto Dominion Bank in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $93.00.

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.

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