Canerector Inc. Invests $10.65 Million in The Toronto-Dominion Bank (NYSE:TD)

Canerector Inc. bought a new stake in shares of The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 200,000 shares of the bank's stock, valued at approximately $10,648,000. Toronto-Dominion Bank comprises about 16.6% of Canerector Inc.'s holdings, making the stock its 3rd biggest position.

A number of other hedge funds have also recently modified their holdings of TD. Mackenzie Financial Corp boosted its holdings in shares of Toronto-Dominion Bank by 5.6% in the fourth quarter. Mackenzie Financial Corp now owns 27,990,674 shares of the bank's stock valued at $1,488,233,000 after purchasing an additional 1,491,472 shares during the period. Forum Financial Management LP lifted its holdings in shares of Toronto-Dominion Bank by 64.2% during the 4th quarter. Forum Financial Management LP now owns 18,711 shares of the bank's stock valued at $996,000 after purchasing an additional 7,313 shares during the last quarter. Burgundy Asset Management Ltd. lifted its holdings in shares of Toronto-Dominion Bank by 137.3% during the 4th quarter. Burgundy Asset Management Ltd. now owns 2,258,881 shares of the bank's stock valued at $120,143,000 after purchasing an additional 1,306,946 shares during the last quarter. Connecticut Wealth Management LLC lifted its holdings in shares of Toronto-Dominion Bank by 32.2% during the 4th quarter. Connecticut Wealth Management LLC now owns 4,664 shares of the bank's stock valued at $248,000 after purchasing an additional 1,136 shares during the last quarter. Finally, Vident Advisory LLC lifted its holdings in shares of Toronto-Dominion Bank by 5.8% during the 4th quarter. Vident Advisory LLC now owns 4,535 shares of the bank's stock valued at $241,000 after purchasing an additional 249 shares during the last quarter. Institutional investors own 52.37% of the company's stock.

Wall Street Analyst Weigh In

TD has been the subject of several analyst reports. Wall Street Zen upgraded Toronto-Dominion Bank from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. Jefferies Financial Group downgraded Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Scotiabank began coverage on Toronto-Dominion Bank in a research note on Thursday, May 15th. They set a "sector perform" rating for the company. Finally, Royal Bank of Canada lifted their target price on shares of Toronto-Dominion Bank from $87.00 to $93.00 and gave the company a "sector perform" rating in a report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $93.00.

Toronto-Dominion Bank Price Performance

Shares of TD stock traded up $0.61 during mid-day trading on Thursday, hitting $68.72. 1,640,665 shares of the stock were exchanged, compared to its average volume of 2,364,615. The firm has a fifty day moving average of $61.87 and a 200 day moving average of $58.37. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.11. The Toronto-Dominion Bank has a 52-week low of $51.25 and a 52-week high of $68.76. The company has a market cap of $119.28 billion, a PE ratio of 19.80, a price-to-earnings-growth ratio of 1.95 and a beta of 0.81.

Toronto-Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last issued its quarterly earnings results on Thursday, May 22nd. The bank reported $1.39 earnings per share for the quarter, beating analysts' consensus estimates of $1.25 by $0.14. The firm had revenue of $10.97 billion for the quarter, compared to analyst estimates of $13.36 billion. Toronto-Dominion Bank had a net margin of 7.37% and a return on equity of 13.96%. During the same period last year, the company posted $2.04 EPS. Research analysts anticipate that The Toronto-Dominion Bank will post 5.48 earnings per share for the current year.

Toronto-Dominion Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Thursday, July 10th will be paid a $0.7568 dividend. The ex-dividend date of this dividend is Thursday, July 10th. This is a positive change from Toronto-Dominion Bank's previous quarterly dividend of $0.73. This represents a $3.03 dividend on an annualized basis and a yield of 4.41%. Toronto-Dominion Bank's dividend payout ratio (DPR) is currently 42.67%.

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.