Cidel Asset Management Inc. Acquires 10,554 Shares of Toronto Dominion Bank (The) $TD

Key Points

• Cidel Asset Management Inc. increased its stake in Toronto Dominion Bank by purchasing an additional 10,554 shares, raising its total ownership to 548,715 shares, representing approximately 2.4% of its investment portfolio.
• Toronto Dominion Bank announced a quarterly dividend of $1.05, an increase from the previous dividend of $0.76, with a yield of 5.3% and a payout ratio of 35.75%.
• In its latest earnings report, Toronto Dominion Bank beat consensus estimates with earnings per share of $1.91, driven by a revenue increase of 7.9% compared to the same quarter last year.

Cidel Asset Management Inc. raised its holdings in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 2.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 548,715 shares of the bank's stock after purchasing an additional 10,554 shares during the quarter. Toronto Dominion Bank accounts for approximately 2.4% of Cidel Asset Management Inc.'s investment portfolio, making the stock its 12th largest holding. Cidel Asset Management Inc.'s holdings in Toronto Dominion Bank were worth $40,278,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Balanced Rock Investment Advisors LLC lifted its position in shares of Toronto Dominion Bank by 1.1% during the first quarter. Balanced Rock Investment Advisors LLC now owns 14,983 shares of the bank's stock worth $898,000 after purchasing an additional 163 shares during the last quarter. Wright Investors Service Inc. lifted its position in shares of Toronto Dominion Bank by 3.1% during the second quarter. Wright Investors Service Inc. now owns 5,827 shares of the bank's stock worth $428,000 after purchasing an additional 173 shares during the last quarter. Intrua Financial LLC lifted its position in shares of Toronto Dominion Bank by 2.4% during the first quarter. Intrua Financial LLC now owns 7,812 shares of the bank's stock worth $468,000 after purchasing an additional 183 shares during the last quarter. Hexagon Capital Partners LLC lifted its position in shares of Toronto Dominion Bank by 14.5% during the first quarter. Hexagon Capital Partners LLC now owns 1,500 shares of the bank's stock worth $90,000 after purchasing an additional 190 shares during the last quarter. Finally, JFS Wealth Advisors LLC lifted its position in shares of Toronto Dominion Bank by 6.0% during the first quarter. JFS Wealth Advisors LLC now owns 3,421 shares of the bank's stock worth $205,000 after purchasing an additional 194 shares during the last quarter. 52.37% of the stock is currently owned by institutional investors.

Toronto Dominion Bank Price Performance

TD opened at $79.28 on Friday. The business's 50-day moving average is $76.96 and its two-hundred day moving average is $71.05. Toronto Dominion Bank has a 1 year low of $51.25 and a 1 year high of $82.08. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market capitalization of $134.84 billion, a PE ratio of 9.26, a price-to-earnings-growth ratio of 1.62 and a beta of 0.80.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last posted its earnings results on Thursday, August 28th. The bank reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.45. Toronto Dominion Bank had a return on equity of 13.59% and a net margin of 16.40%.The company had revenue of $10.12 billion for the quarter, compared to analyst estimates of $13.73 billion. During the same quarter in the previous year, the firm earned $2.05 earnings per share. The firm's quarterly revenue was up 7.9% compared to the same quarter last year. Research analysts anticipate that Toronto Dominion Bank will post 5.48 earnings per share for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 10th will be paid a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 5.3%. This is a boost from Toronto Dominion Bank's previous quarterly dividend of $0.76. The ex-dividend date is Friday, October 10th. Toronto Dominion Bank's payout ratio is presently 35.75%.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Wall Street Zen downgraded Toronto Dominion Bank from a "hold" rating to a "sell" rating in a research report on Friday, September 26th. Royal Bank Of Canada upgraded Toronto Dominion Bank from a "sector perform" rating to an "outperform" rating in a research note on Friday, October 3rd. Zacks Research lowered Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Desjardins upgraded Toronto Dominion Bank from a "hold" rating to a "buy" rating in a research note on Wednesday, August 13th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Toronto Dominion Bank in a research note on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $93.00.

Toronto Dominion Bank 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.

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