Toronto Dominion Bank (The) $TD Shares Sold by Canoe Financial LP

Key Points

• Canoe Financial sold 14.6% of its Toronto‑Dominion Bank stake, disposing of 122,833 shares and leaving it with 721,113 shares worth about $67.97 million; institutional investors own 52.37% of TD.
• Earnings beat: TD reported Q results of $1.76 EPS versus $1.63 expected and $11.01 billion in revenue versus $10.43 billion, with revenue up 18.1% year‑over‑year and a return on equity of 14.29%.
• TD announced a $1.08 quarterly dividend (annualized $4.32) for a yield of 4.7% with an ex‑dividend date of April 9, and analysts carry a consensus "Moderate Buy" rating with a $93 target while the stock trades near $91.41 (P/E 10.1).

Canoe Financial LP decreased its stake in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 14.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 721,113 shares of the bank's stock after selling 122,833 shares during the period. Canoe Financial LP's holdings in Toronto Dominion Bank were worth $67,966,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TD. True Wealth Design LLC bought a new stake in Toronto Dominion Bank in the third quarter valued at $27,000. Mather Group LLC. bought a new position in shares of Toronto Dominion Bank during the third quarter worth about $30,000. Sachetta LLC bought a new position in shares of Toronto Dominion Bank during the third quarter worth about $33,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Toronto Dominion Bank in the 2nd quarter worth about $32,000. Finally, Toth Financial Advisory Corp acquired a new stake in shares of Toronto Dominion Bank in the 3rd quarter worth about $40,000. Institutional investors and hedge funds own 52.37% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on TD shares. Zacks Research raised shares of Toronto Dominion Bank from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 18th. Wall Street Zen upgraded shares of Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research note on Monday, March 2nd. National Bank Financial upgraded Toronto Dominion Bank from a "sector perform" rating to an "outperform" rating in a research report on Thursday, December 18th. Canadian Imperial Bank of Commerce lowered Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 12th. Finally, Weiss Ratings upgraded Toronto Dominion Bank from a "buy (b)" rating to a "buy (a-)" rating in a research report on Friday. Three equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, Toronto Dominion Bank has a consensus rating of "Moderate Buy" and a consensus target price of $93.00.

Toronto Dominion Bank Stock Down 1.5%

Toronto Dominion Bank stock opened at $91.41 on Friday. Toronto Dominion Bank has a 52 week low of $54.87 and a 52 week high of $99.84. The stock has a market cap of $152.78 billion, a price-to-earnings ratio of 10.10, a PEG ratio of 1.04 and a beta of 0.66. The company's 50-day moving average price is $95.35 and its two-hundred day moving average price is $88.50. 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 issued its quarterly earnings results on Thursday, February 26th. The bank reported $1.76 earnings per share for the quarter, topping analysts' consensus estimates of $1.63 by $0.13. The company had revenue of $11.01 billion during the quarter, compared to analyst estimates of $10.43 billion. Toronto Dominion Bank had a net margin of 17.52% and a return on equity of 14.29%. The business's revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period in the prior year, the business posted $2.02 EPS. On average, analysts expect that Toronto Dominion Bank will post 5.48 EPS for the current fiscal year.

Toronto Dominion Bank Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 9th will be given a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Thursday, April 9th. Toronto Dominion Bank's dividend payout ratio is 34.81%.

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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