Toronto Dominion Bank (The) $TD Stock Purchased by Cidel Asset Management Inc.

Key Points

• Cidel Asset Management increased its TD stake by 8.8% in the third quarter, acquiring 39,409 additional shares and bringing its holdings to 487,707 shares valued at approximately $57.5 million.
• Institutional investors own 52.37% of TD, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $148.
• TD reported quarterly EPS of $1.98, beating expectations, and authorized a $7.14 billion share buyback; it also pays an annualized C$4.48 dividend, yielding about 3.6%.

Cidel Asset Management Inc. grew its holdings in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 8.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 487,707 shares of the bank's stock after acquiring an additional 39,409 shares during the quarter. Toronto Dominion Bank comprises 2.8% of Cidel Asset Management Inc.'s investment portfolio, making the stock its 4th largest position. Cidel Asset Management Inc.'s holdings in Toronto Dominion Bank were worth $57,480,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of TD. Bank of New York Mellon Corp bought a new position in shares of Toronto Dominion Bank in the second quarter worth approximately $202,900,000. SEB Asset Management AB bought a new stake in Toronto Dominion Bank during the first quarter valued at approximately $139,123,000. Public Employees Retirement System of Ohio bought a new stake in Toronto Dominion Bank during the second quarter valued at approximately $74,503,000. Dimensional Fund Advisors LP grew its stake in Toronto Dominion Bank by 8.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,565,982 shares of the bank's stock worth $705,950,000 after buying an additional 589,316 shares in the last quarter. Finally, Nykredit A S purchased a new position in Toronto Dominion Bank in the 2nd quarter worth approximately $46,808,000. Hedge funds and other institutional investors own 52.37% of the company's stock.

Key Toronto Dominion Bank News

Here are the key news stories impacting Toronto Dominion Bank this week:

• Positive Sentiment: TD and other Canadian banks raised their prime lending rates by 25 basis points to 4.70%. Higher lending rates can support net interest income and margins, although the benefit depends on deposit costs, loan demand and credit quality. RBC, TD, CIBC and BMO raise prime lending rates to 4.70%
• Positive Sentiment: TD launched a mobile-app feature that lets customers transfer money from other financial institutions into TD accounts through a guided process. The initiative could improve digital engagement, account acquisition and customer retention, though its near-term financial impact is likely limited. TD makes moving money to a TD account faster and easier
• Neutral Sentiment: TD announced an interest-rate reset for its C$1.75 billion of Series 1 Limited Recourse Capital Notes for the five-year period beginning October 31, 2026. The update is routine, with the announcement providing no clear immediate effect on earnings or capital. TD Announces Interest Rate Reset on CAD Limited Recourse Capital Notes
• Neutral Sentiment: TD Bank U.S. appointed Amit Sahasrabudhe as chief operating officer. His background in operations, technology and business transformation may support execution, but the leadership change is not expected to materially alter near-term results. TD Announces Appointment of Amit Sahasrabudhe as U.S. Chief Operating Officer
• Neutral Sentiment: TD Asset Management changed risk ratings for certain TD ETFs, while the TD Charitable Foundation announced $10 million in housing-related grants. Both developments enhance product or corporate-relations activity but have limited direct impact on bank valuation.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Keefe, Bruyette & Woods assumed coverage on shares of Toronto Dominion Bank in a research report on Friday, August 21st. They set a "market perform" rating on the stock. Wall Street Zen upgraded shares of Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research report on Saturday, August 22nd. Finally, Weiss Ratings raised Toronto Dominion Bank from a "buy (b+)" rating to a "buy (a-)" rating in a research note on Wednesday, October 21st. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $148.00.

Toronto Dominion Bank Stock Down 2.1%

Shares of NYSE TD opened at $124.50 on Friday. Toronto Dominion Bank has a one year low of $79.52 and a one year high of $127.96. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.03 and a quick ratio of 1.03. The firm's 50 day simple moving average is $120.49 and its two-hundred day simple moving average is $110.45. The stock has a market capitalization of $202.84 billion, a P/E ratio of 18.50, a PEG ratio of 1.24 and a beta of 0.75.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last posted its quarterly earnings results on Thursday, August 27th. The bank reported $1.98 EPS for the quarter, topping the consensus estimate of $1.74 by $0.24. The firm had revenue of $12.07 billion for the quarter, compared to the consensus estimate of $10.70 billion. Toronto Dominion Bank had a net margin of 14.41% and a return on equity of 14.88%. The business's revenue was up 6.9% compared to the same quarter last year. During the same period last year, the firm posted $2.20 earnings per share. As a group, analysts expect that Toronto Dominion Bank will post 7.04 EPS for the current fiscal year.

Toronto Dominion Bank declared that its Board of Directors has initiated a share buyback plan on Wednesday, September 30th that authorizes the company to buy back $7.14 billion in shares. This buyback authorization authorizes the bank to purchase up to 3.5% of its shares through open market purchases. Share buyback plans are often a sign that the company's management believes its shares are undervalued.

Toronto Dominion Bank Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Saturday, October 31st. Investors of record on Friday, October 9th were given a C$1.12 dividend. This represents a $4.48 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date was Friday, October 9th. Toronto Dominion Bank's dividend payout ratio (DPR) is presently 46.81%.

Toronto Dominion Bank Company Profile

Toronto-Dominion Bank, operating as TD Bank Group, is a Canadian financial services company headquartered in Toronto, Ontario. The institution traces its history to the Bank of Toronto, founded in 1855, and the Dominion Bank, founded in 1869; the two banks merged in 1955 to form Toronto-Dominion Bank.

TD provides a broad range of banking and financial services through its Canadian and U.S. operations. Its offerings include personal and business deposit accounts, mortgages, consumer and commercial lending, credit cards, investment products, insurance, wealth management and financial advice.

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