Toronto Dominion Bank (The) $TD Shares Sold by Addenda Capital Inc.

Key Points

• Addenda Capital trimmed its TD stake by 1.7% (sold 22,115 shares) to 1,303,135 shares, leaving TD as about 4.4% of Addenda’s portfolio and roughly $122.76 million of its holdings (≈0.08% of TD).
• Q4 earnings beat: TD reported $1.76 EPS vs. $1.63 expected and revenue of $11.01 billion (vs. $10.43B), with revenue up 18.1% year-over-year.
• Dividend and ownership: TD declared a $1.08 quarterly dividend (annualized $4.32, ~4.4% yield) with an ex-dividend date of April 9 and payment April 30; institutional investors hold about 52.37% of the stock.

Addenda Capital Inc. lessened its holdings in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,303,135 shares of the bank's stock after selling 22,115 shares during the period. Toronto Dominion Bank accounts for about 4.4% of Addenda Capital Inc.'s investment portfolio, making the stock its biggest holding. Addenda Capital Inc. owned approximately 0.08% of Toronto Dominion Bank worth $122,755,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Canada Pension Plan Investment Board lifted its position in Toronto Dominion Bank by 18.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 12,470,618 shares of the bank's stock worth $917,832,000 after acquiring an additional 1,946,172 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Toronto Dominion Bank by 0.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,815,706 shares of the bank's stock worth $1,010,852,000 after acquiring an additional 115,203 shares during the last quarter. Citigroup Inc. lifted its position in Toronto Dominion Bank by 21.8% during the 3rd quarter. Citigroup Inc. now owns 935,526 shares of the bank's stock worth $74,821,000 after acquiring an additional 167,736 shares during the last quarter. State of Wyoming lifted its position in Toronto Dominion Bank by 236.4% during the 3rd quarter. State of Wyoming now owns 25,765 shares of the bank's stock worth $2,061,000 after acquiring an additional 18,105 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its position in Toronto Dominion Bank by 1,477.7% during the 2nd quarter. Public Sector Pension Investment Board now owns 2,666,729 shares of the bank's stock worth $195,749,000 after acquiring an additional 2,497,700 shares during the last quarter. Institutional investors and hedge funds own 52.37% of the company's stock.

Toronto Dominion Bank Stock Performance

NYSE TD opened at $99.26 on Thursday. The stock has a market cap of $165.37 billion, a P/E ratio of 10.97, a PEG ratio of 1.08 and a beta of 0.65. The company's 50-day simple moving average is $95.50 and its 200 day simple moving average is $89.49. Toronto Dominion Bank has a twelve month low of $55.00 and a twelve month high of $99.84. 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 issued its quarterly earnings data on Thursday, February 26th. The bank reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.13. The firm had revenue of $11.01 billion for the quarter, compared to analysts' expectations of $10.43 billion. Toronto Dominion Bank had a net margin of 17.52% and a return on equity of 14.29%. The company's quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.02 earnings per share. As a group, research analysts forecast that Toronto Dominion Bank will post 5.48 earnings per share for the current fiscal year.

Toronto Dominion Bank Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 9th will be paid a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Thursday, April 9th. Toronto Dominion Bank's dividend payout ratio is currently 34.81%.

Analysts Set New Price Targets

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

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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