Toronto Dominion Bank (The) $TD is Canerector Inc.'s 2nd Largest Position

Key Points

• Canerector Inc. dramatically cut its position in Toronto Dominion Bank, trimming its stake by 99.1% in Q4 after selling 22,056,000 shares and retaining 200,000 shares, with TD still representing about 22.3% of Canerector's holdings valued at $18.84 million.
• TD reported a quarter-beating $1.76 EPS (vs. $1.63 est.) and revenue of $11.01 billion, up 18.1% year-over-year, and recently declared a quarterly dividend of $1.08 (4.3% annual yield) payable April 30.
• The bank trades with a market cap of $167.8 billion and a P/E of 11.13, and analysts hold a consensus rating of “Moderate Buy” with an average target price of $93.00.

Canerector Inc. trimmed its stake in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 99.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 200,000 shares of the bank's stock after selling 22,056,000 shares during the period. Toronto Dominion Bank comprises about 22.3% of Canerector Inc.'s holdings, making the stock its 2nd biggest holding. Canerector Inc.'s holdings in Toronto Dominion Bank were worth $18,840,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Harvest Fund Management Co. Ltd lifted its holdings in shares of Toronto Dominion Bank by 112.8% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 317 shares of the bank's stock valued at $30,000 after purchasing an additional 168 shares during the last quarter. True Wealth Design LLC purchased a new stake in shares of Toronto Dominion Bank during the third quarter valued at $27,000. CBIZ Investment Advisory Services LLC purchased a new stake in shares of Toronto Dominion Bank during the fourth quarter valued at $34,000. Mather Group LLC. purchased a new stake in shares of Toronto Dominion Bank during the third quarter valued at $30,000. Finally, Sachetta LLC purchased a new stake in shares of Toronto Dominion Bank during the third quarter valued at $33,000. 52.37% of the stock is owned by hedge funds and other institutional investors.

Toronto Dominion Bank Price Performance

TD opened at $100.70 on Friday. The stock has a fifty day moving average of $95.74 and a 200-day moving average of $89.79. The firm has a market capitalization of $167.77 billion, a P/E ratio of 11.13, a PEG ratio of 1.15 and a beta of 0.65. Toronto Dominion Bank has a 12-month low of $56.51 and a 12-month high of $100.94. The company has a quick ratio of 1.05, a current 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 quarterly earnings data 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 net margin of 17.52% and a return on equity of 14.29%. The firm had revenue of $11.01 billion for the quarter, compared to the consensus estimate of $10.43 billion. During the same period in the previous year, the firm posted $2.02 earnings per share. The firm's revenue was up 18.1% on a year-over-year basis. Equities analysts forecast that Toronto Dominion Bank will post 5.48 EPS for the current fiscal year.

Toronto Dominion Bank Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Thursday, April 9th will be given a dividend of $1.08 per share. The ex-dividend date of this dividend is Thursday, April 9th. This represents a $4.32 dividend on an annualized basis and a yield of 4.3%. Toronto Dominion Bank's payout ratio is presently 34.36%.

Analyst Ratings Changes

TD has been the subject of several analyst reports. 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. Zacks Research raised Toronto Dominion Bank from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 18th. National Bank Financial raised Toronto Dominion Bank from a "sector perform" rating to an "outperform" rating in a report on Thursday, December 18th. Wall Street Zen lowered Toronto Dominion Bank from a "hold" rating to a "sell" rating in a report on Saturday. Finally, Weiss Ratings upgraded Toronto Dominion Bank from a "buy (b)" rating to a "buy (a-)" rating in a report on Friday, March 27th. Three research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Toronto Dominion Bank currently has a consensus rating of "Moderate Buy" and an average target price 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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