M&T Bank Corp Decreases Stake in Toronto Dominion Bank (The) $TD

Key Points

• 85.5% reduction: M&T Bank Corp cut its stake in Toronto Dominion Bank by 85.5% in Q4, selling 33,720 shares and ending the period with 5,716 shares valued at about $538,000.
• Big institutional buying: several funds dramatically increased positions—most notably Canerector Inc (up 11,028% to 22,256,000 shares, ~$1.78B) and Massachusetts Financial Services (up 25.9% to ~15.21M shares, ~$1.43B)—leaving institutions/hedge funds owning 52.37% of TD.
• Operational and market context: TD beat quarterly EPS and revenue estimates, pays a quarterly dividend of $1.08 (annualized yield ~4.0%), and has an average analyst rating of "Moderate Buy" with a $93 target.

M&T Bank Corp reduced its stake in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 85.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,716 shares of the bank's stock after selling 33,720 shares during the period. M&T Bank Corp's holdings in Toronto Dominion Bank were worth $538,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in TD. Canerector Inc. boosted its position in shares of Toronto Dominion Bank by 11,028.0% in the 3rd 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. Massachusetts Financial Services Co. MA boosted its position in shares of Toronto Dominion Bank by 25.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,210,762 shares of the bank's stock worth $1,432,854,000 after buying an additional 3,129,457 shares in the last quarter. Quadrature Capital Ltd boosted its position in shares of Toronto Dominion Bank by 5,566.3% in the 3rd 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. Caisse de depot et placement du Quebec boosted its position in shares of Toronto Dominion Bank by 70.1% in the 3rd 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. Finally, Skandinaviska Enskilda Banken AB publ boosted its position in shares of Toronto Dominion Bank by 85.1% in the 3rd quarter. Skandinaviska Enskilda Banken AB publ now owns 1,845,369 shares of the bank's stock worth $147,556,000 after buying an additional 848,662 shares in the last quarter. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TD has been the topic of several recent research reports. Wall Street Zen upgraded shares of Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research report on Saturday, April 25th. Canadian Imperial Bank of Commerce lowered shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 12th. Zacks Research lowered shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. Finally, Weiss Ratings upgraded shares of Toronto Dominion Bank from a "buy (b)" rating to a "buy (a-)" rating in a research report on Friday, March 27th. Two analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $93.00.

Toronto Dominion Bank Trading Down 0.3%

Shares of TD stock opened at $107.39 on Friday. The firm has a 50-day moving average price of $98.22 and a 200 day moving average price of $92.25. Toronto Dominion Bank has a twelve month low of $62.79 and a twelve month high of $108.35. The company has a market capitalization of $177.85 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 1.22 and a beta of 0.71. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.09.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last announced its earnings results on Thursday, February 26th. The bank reported $1.76 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.13. Toronto Dominion Bank had a net margin of 17.52% and a return on equity of 14.29%. The firm had revenue of $11.01 billion during the quarter, compared to the consensus estimate of $10.43 billion. During the same quarter in the previous year, the company posted $2.02 EPS. The firm's revenue for the quarter was up 18.1% on a year-over-year basis. Research analysts forecast that Toronto Dominion Bank will post 6.87 earnings per share for the current fiscal year.

Toronto Dominion Bank Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Thursday, April 9th were paid a $1.08 dividend. The ex-dividend date of this dividend was Thursday, April 9th. This represents a $4.32 annualized dividend and a yield of 4.0%. Toronto Dominion Bank's payout ratio is presently 34.36%.

Toronto Dominion Bank Company 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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