Toronto Dominion Bank (The) (NYSE:TD) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Toronto Dominion Bank by 5.0%, acquiring an additional 456,539 shares during the first quarter, bringing its total ownership to 9,667,825 shares.
• Toronto Dominion Bank recently reported earnings per share (EPS) of $1.39, exceeding analysts' expectations, and announced a quarterly dividend increase to $0.7568 per share, reflecting an annualized yield of 4.1%.
• Research analysts have updated their ratings on Toronto Dominion Bank; the stock has a consensus rating of "Hold" and a target price increase to $93.00.

Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 5.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,667,825 shares of the bank's stock after purchasing an additional 456,539 shares during the period. Toronto Dominion Bank makes up 2.5% of Connor Clark & Lunn Investment Management Ltd.'s portfolio, making the stock its 4th biggest position. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.56% of Toronto Dominion Bank worth $579,407,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. MFA Wealth Services raised its position in Toronto Dominion Bank by 4.5% in the 1st quarter. MFA Wealth Services now owns 4,179 shares of the bank's stock valued at $250,000 after buying an additional 179 shares during the last quarter. Hexagon Capital Partners LLC increased its position in shares of Toronto Dominion Bank by 14.5% during the 1st 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. JFS Wealth Advisors LLC increased its position in shares of Toronto Dominion Bank by 6.0% during the 1st 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. MassMutual Private Wealth & Trust FSB increased its position in shares of Toronto Dominion Bank by 14.3% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,619 shares of the bank's stock worth $97,000 after purchasing an additional 202 shares during the last quarter. Finally, CoreCap Advisors LLC increased its position in shares of Toronto Dominion Bank by 57.5% during the 4th quarter. CoreCap Advisors LLC now owns 630 shares of the bank's stock worth $34,000 after purchasing an additional 230 shares during the last quarter. Institutional investors own 52.37% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on TD. Scotiabank began coverage on Toronto Dominion Bank in a research report on Thursday, May 15th. They set a "sector perform" rating on the stock. Wall Street Zen raised Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research report on Saturday, May 24th. Finally, Royal Bank Of Canada boosted their price target on Toronto Dominion Bank from $87.00 to $93.00 and gave the stock a "sector perform" rating in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Toronto Dominion Bank has a consensus rating of "Hold" and an average price target of $93.00.

Toronto Dominion Bank Stock Performance

Shares of TD stock traded up $0.17 during trading on Tuesday, reaching $73.25. 1,153,800 shares of the company's stock were exchanged, compared to its average volume of 2,128,451. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $125.64 billion, a PE ratio of 10.74, a PEG ratio of 1.66 and a beta of 0.84. Toronto Dominion Bank has a twelve month low of $51.25 and a twelve month high of $75.58. The firm's fifty day moving average price is $72.78 and its 200-day moving average price is $65.03.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last released its quarterly earnings results on Thursday, May 22nd. The bank reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.14. The business had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $13.36 billion. Toronto Dominion Bank had a return on equity of 13.11% and a net margin of 13.53%. During the same period in the previous year, the company posted $2.04 EPS. As a group, sell-side analysts anticipate that Toronto Dominion Bank will post 5.48 EPS for the current year.

Toronto Dominion Bank Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 10th were given a dividend of $0.7568 per share. This represents a $3.03 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Thursday, July 10th. This is a positive change from Toronto Dominion Bank's previous quarterly dividend of $0.73. Toronto Dominion Bank's dividend payout ratio is currently 45.31%.

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.