Toronto Dominion Bank (The) $TD is Addenda Capital Inc.'s Largest Position

Key Points

• Addenda Capital Inc. holds a significant position in Toronto Dominion Bank, owning approximately 1.3 million shares, which accounts for 4.2% of its total holdings.
• Toronto Dominion Bank has recently increased its quarterly dividend to $1.05 per share, reflecting an annualized dividend yield of 5.3%, up from the previous $0.76.
• The bank reported $1.91 EPS for the last quarter, exceeding analysts' expectations of $1.46 EPS, despite revenue falling short of projections.

Addenda Capital Inc. trimmed its position in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 2.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,300,806 shares of the bank's stock after selling 27,246 shares during the quarter. Toronto Dominion Bank comprises 4.2% of Addenda Capital Inc.'s holdings, making the stock its largest position. Addenda Capital Inc. owned approximately 0.08% of Toronto Dominion Bank worth $95,544,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TD. Goldman Sachs Group Inc. boosted its stake in Toronto Dominion Bank by 93.9% during the first quarter. Goldman Sachs Group Inc. now owns 12,216,411 shares of the bank's stock worth $732,252,000 after buying an additional 5,917,078 shares during the last quarter. Federation des caisses Desjardins du Quebec raised its position in Toronto Dominion Bank by 48.9% in the first quarter. Federation des caisses Desjardins du Quebec now owns 14,785,565 shares of the bank's stock valued at $886,174,000 after purchasing an additional 4,853,498 shares during the period. Canada Pension Plan Investment Board raised its position in Toronto Dominion Bank by 81.6% in the first quarter. Canada Pension Plan Investment Board now owns 10,524,446 shares of the bank's stock valued at $630,746,000 after purchasing an additional 4,729,657 shares during the period. JPMorgan Chase & Co. raised its position in Toronto Dominion Bank by 38.6% in the first quarter. JPMorgan Chase & Co. now owns 9,994,402 shares of the bank's stock valued at $599,064,000 after purchasing an additional 2,780,984 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in Toronto Dominion Bank by 17.7% in the first quarter. The Manufacturers Life Insurance Company now owns 13,700,503 shares of the bank's stock valued at $825,440,000 after purchasing an additional 2,057,784 shares during the period. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Toronto Dominion Bank Trading Up 0.5%

NYSE:TD opened at $79.20 on Friday. The stock has a market cap of $134.70 billion, a P/E ratio of 9.25, a P/E/G ratio of 1.70 and a beta of 0.81. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.02 and a current ratio of 1.02. Toronto Dominion Bank has a 1 year low of $51.25 and a 1 year high of $79.49. The stock has a 50-day simple moving average of $75.14 and a 200-day simple moving average of $68.97.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last announced its earnings results on Thursday, August 28th. The bank reported $1.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.46 by $0.45. The firm had revenue of $10.12 billion during the quarter, compared to analysts' expectations of $13.73 billion. Toronto Dominion Bank had a return on equity of 13.59% and a net margin of 16.40%.The business's revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.05 EPS. As a group, 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 disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Friday, October 10th will be paid a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, October 10th. 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. Toronto Dominion Bank's dividend payout ratio (DPR) is currently 36.10%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TD. Desjardins upgraded Toronto Dominion Bank from a "hold" rating to a "buy" rating in a report on Wednesday, August 13th. Wall Street Zen downgraded Toronto Dominion Bank from a "hold" rating to a "sell" rating in a report on Friday. Finally, Zacks Research downgraded Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Three research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Toronto Dominion Bank currently has a consensus rating of "Hold" and an average 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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