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

Key Points

• Connor Clark & Lunn Investment Management increased its stake in Toronto Dominion Bank by 3.2% in Q3 to 10,113,286 shares (about $808.5 million), making TD its fifth-largest holding.
• Q4 results beat expectations: TD reported EPS of $1.76 vs. $1.63 consensus and revenue of $11.01 billion (up 18.1% year-over-year), with a 14.29% return on equity.
• Dividend announced: TD declared a $1.08 quarterly dividend ($4.32 annualized) with a yield of 4.5%, ex-dividend date April 9 and payable April 30, and a payout ratio of ~34.9%.

Connor Clark & Lunn Investment Management Ltd. lifted its position in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 3.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,113,286 shares of the bank's stock after acquiring an additional 316,901 shares during the period. Toronto Dominion Bank comprises approximately 2.5% of Connor Clark & Lunn Investment Management Ltd.'s holdings, making the stock its 5th largest position. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.60% of Toronto Dominion Bank worth $808,477,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. True Wealth Design LLC purchased a new position in Toronto Dominion Bank during the 3rd quarter worth approximately $27,000. Mather Group LLC. purchased a new stake in shares of Toronto Dominion Bank in the third quarter valued at $30,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Toronto Dominion Bank in the second quarter worth $32,000. Sachetta LLC purchased a new position in shares of Toronto Dominion Bank during the third quarter valued at $33,000. Finally, Tobam raised its position in Toronto Dominion Bank by 44.5% during the second quarter. Tobam now owns 490 shares of the bank's stock valued at $36,000 after buying an additional 151 shares during the period. Institutional investors and hedge funds own 52.37% of the company's stock.

Analyst Ratings Changes

TD has been the subject of several research analyst reports. Raymond James Financial raised Toronto Dominion Bank to a "hold" rating in a research note on Monday, November 24th. Weiss Ratings reiterated a "buy (b)" rating on shares of Toronto Dominion Bank in a report on Wednesday, January 21st. Wall Street Zen raised shares of Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research report on Monday, March 2nd. Zacks Research upgraded shares of Toronto Dominion Bank from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 18th. Finally, Canadian Imperial Bank of Commerce downgraded shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 12th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $93.00.

Toronto Dominion Bank Stock Performance

Shares of NYSE TD opened at $95.90 on Thursday. The business's 50-day simple moving average is $95.50 and its 200-day simple moving average is $86.91. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.05 and a current ratio of 1.05. Toronto Dominion Bank has a 52 week low of $54.87 and a 52 week high of $99.84. The firm has a market cap of $160.27 billion, a price-to-earnings ratio of 10.60, a P/E/G ratio of 1.09 and a beta of 0.66.

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 (EPS) for the quarter, topping 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 during the quarter, compared to analysts' expectations of $10.43 billion. During the same quarter in the prior year, the business earned $2.02 earnings per share. The company's revenue was up 18.1% on a year-over-year basis. As a group, equities research analysts expect that Toronto Dominion Bank will post 5.48 earnings per share for the current fiscal year.

Toronto Dominion Bank Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Thursday, April 9th will be paid a $1.08 dividend. The ex-dividend date of this dividend is Thursday, April 9th. This represents a $4.32 annualized dividend and a yield of 4.5%. Toronto Dominion Bank's payout ratio is currently 34.92%.

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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