JCIC Asset Management Inc. Purchases 76,650 Shares of Toronto Dominion Bank (The) $TD

Key Points

• JCIC Asset Management grew its stake in Toronto Dominion Bank by 891.5% in Q4, buying 76,650 shares to hold 85,248 shares worth about $8.04 million, making TD 2.5% of JCIC’s portfolio and its 12th-largest holding.
• Toronto Dominion beat quarterly estimates with $1.76 EPS (vs. $1.63) and $11.01 billion in revenue (up 18.1% YoY), and declared a quarterly dividend of $1.08 ($4.32 annual) implying a 4.3% yield (ex-dividend Apr 9, payable Apr 30).
• Multiple large institutions materially increased TD positions—e.g., Canerector added ~22.06 million shares and CPP, PSP, Quadrature and Caisse also boosted holdings—and institutional ownership now stands at 52.37%.

JCIC Asset Management Inc. grew its position in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 891.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,248 shares of the bank's stock after acquiring an additional 76,650 shares during the quarter. Toronto Dominion Bank comprises 2.5% of JCIC Asset Management Inc.'s holdings, making the stock its 12th largest holding. JCIC Asset Management Inc.'s holdings in Toronto Dominion Bank were worth $8,035,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TD. Canerector Inc. grew its holdings in Toronto Dominion Bank by 11,028.0% during the third quarter. Canerector Inc. now owns 22,256,000 shares of the bank's stock worth $1,779,367,000 after buying an additional 22,056,000 shares in the last quarter. Public Sector Pension Investment Board grew its holdings in Toronto Dominion Bank by 1,477.7% during the second quarter. Public Sector Pension Investment Board now owns 2,666,729 shares of the bank's stock worth $195,749,000 after buying an additional 2,497,700 shares in the last quarter. Quadrature Capital Ltd grew its holdings in Toronto Dominion Bank by 5,566.3% during the third quarter. Quadrature Capital Ltd now owns 2,451,600 shares of the bank's stock worth $196,028,000 after buying an additional 2,408,334 shares in the last quarter. Canada Pension Plan Investment Board grew its holdings in Toronto Dominion Bank by 18.5% during the second quarter. Canada Pension Plan Investment Board now owns 12,470,618 shares of the bank's stock worth $917,832,000 after buying an additional 1,946,172 shares in the last quarter. Finally, Caisse de depot et placement du Quebec grew its holdings in Toronto Dominion Bank by 70.1% during the third quarter. Caisse de depot et placement du Quebec now owns 2,360,000 shares of the bank's stock worth $188,746,000 after buying an additional 972,513 shares in the last quarter. Institutional investors own 52.37% of the company's stock.

Toronto Dominion Bank Stock Up 0.6%

Shares of NYSE TD opened at $99.85 on Friday. Toronto Dominion Bank has a one year low of $55.51 and a one year high of $100.00. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.05 and a quick ratio of 1.05. The business's fifty day moving average price is $95.60 and its 200-day moving average price is $89.56. The stock has a market capitalization of $166.35 billion, a PE ratio of 11.03, a P/E/G ratio of 1.13 and a beta of 0.65.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last issued its quarterly earnings results on Thursday, February 26th. The bank reported $1.76 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.13. Toronto Dominion Bank had a return on equity of 14.29% and a net margin of 17.52%.The firm had revenue of $11.01 billion for the quarter, compared to analysts' expectations of $10.43 billion. During the same quarter in the prior year, the firm earned $2.02 EPS. The business's revenue for the quarter was up 18.1% compared to the same quarter last year. On average, equities research analysts anticipate that Toronto Dominion Bank will post 5.48 EPS for the current year.

Toronto Dominion Bank Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Thursday, April 9th will be given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Thursday, April 9th. Toronto Dominion Bank's dividend payout ratio is currently 34.81%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Canadian Imperial Bank of Commerce downgraded Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 12th. National Bank Financial upgraded Toronto Dominion Bank from a "sector perform" rating to an "outperform" rating in a report on Thursday, December 18th. Zacks Research upgraded Toronto Dominion Bank from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 18th. Weiss Ratings upgraded Toronto Dominion Bank from a "buy (b)" rating to a "buy (a-)" rating in a report on Friday, March 27th. Finally, Wall Street Zen upgraded Toronto Dominion Bank from a "sell" rating to a "hold" rating in a report on Monday, March 2nd. Three equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Toronto Dominion Bank currently has a consensus rating of "Moderate Buy" and an average price target of $93.00.

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.

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