Toronto Dominion Bank (The) $TD Shares Sold by Lincluden Management Ltd.

Key Points

• Lincluden Management Ltd. trimmed its stake in Toronto Dominion Bank by 8.5% in Q4, selling 77,249 shares and finishing with 829,383 shares worth about $78.13 million, which remains its largest holding (~8.5% of the firm's portfolio).
• TD beat quarterly expectations with $1.76 EPS (vs. $1.63 est.) and $11.01 billion revenue (vs. $10.43 billion est.), and declared a quarterly dividend of $1.08 ($4.32 annualized, ~4.1% yield).
• Institutional investors own 52.37% of TD, with large increases from holders like Vanguard and TD Asset Management, and analysts' consensus is a Moderate Buy with an average price target of $93.00.

Lincluden Management Ltd. lessened its holdings in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 8.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 829,383 shares of the bank's stock after selling 77,249 shares during the quarter. Toronto Dominion Bank accounts for about 8.5% of Lincluden Management Ltd.'s investment portfolio, making the stock its largest holding. Lincluden Management Ltd.'s holdings in Toronto Dominion Bank were worth $78,128,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Toronto Dominion Bank by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 77,252,688 shares of the bank's stock worth $7,280,911,000 after purchasing an additional 765,107 shares in the last quarter. TD Asset Management Inc increased its position in Toronto Dominion Bank by 0.7% during the 3rd quarter. TD Asset Management Inc now owns 37,612,007 shares of the bank's stock worth $3,008,096,000 after purchasing an additional 246,999 shares in the last quarter. Canerector Inc. increased its position in Toronto Dominion Bank by 11,028.0% during the 3rd quarter. Canerector Inc. now owns 22,256,000 shares of the bank's stock worth $1,779,367,000 after purchasing an additional 22,056,000 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Toronto Dominion Bank by 25.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 15,210,762 shares of the bank's stock worth $1,432,854,000 after purchasing an additional 3,129,457 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Toronto Dominion Bank by 3.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 10,113,286 shares of the bank's stock worth $808,477,000 after purchasing an additional 316,901 shares in the last quarter. Institutional investors and hedge funds own 52.37% of the company's stock.

Analyst Ratings Changes

TD has been the subject of a number of research analyst reports. Weiss Ratings raised shares of Toronto Dominion Bank from a "buy (b)" rating to a "buy (a-)" rating in a research report on Friday, March 27th. Zacks Research downgraded shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research report on Monday. Wall Street Zen raised shares of Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research report on Saturday. 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 analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $93.00.

Toronto Dominion Bank Stock Down 0.3%

NYSE TD opened at $105.34 on Wednesday. The stock has a market cap of $174.46 billion, a PE ratio of 11.64, a P/E/G ratio of 1.20 and a beta of 0.65. Toronto Dominion Bank has a fifty-two week low of $62.56 and a fifty-two week high of $106.94. The business has a 50 day moving average price of $97.81 and a two-hundred day moving average price of $91.96. 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 released 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 firm had revenue of $11.01 billion during the quarter, compared to analysts' expectations of $10.43 billion. Toronto Dominion Bank had a return on equity of 14.29% and a net margin of 17.52%.Toronto Dominion Bank's quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.02 EPS. As a group, sell-side analysts predict that Toronto Dominion Bank will post 6.87 EPS 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. Shareholders of record on Thursday, April 9th will be issued a $1.08 dividend. This represents a $4.32 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Thursday, April 9th. Toronto Dominion Bank's dividend payout ratio is currently 34.36%.

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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