Toronto-Dominion Bank (TD) Stake Decreased by CIBC World Markets Inc.
CIBC World Markets Inc. trimmed its position in shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 4.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 32,051,694 shares of the bank’s stock after selling 1,634,879 shares during the quarter. Toronto-Dominion Bank makes up 8.4% of CIBC World Markets Inc.’s holdings, making the stock its largest holding. CIBC World Markets Inc.’s holdings in Toronto-Dominion Bank were worth $1,948,743,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Manhattan Co. raised its holdings in Toronto-Dominion Bank by 106.9% in the 3rd quarter. First Manhattan Co. now owns 1,970 shares of the bank’s stock worth $119,000 after purchasing an additional 1,018 shares during the period. Huntington National Bank raised its holdings in Toronto-Dominion Bank by 216.9% in the 3rd quarter. Huntington National Bank now owns 2,114 shares of the bank’s stock worth $129,000 after purchasing an additional 1,447 shares during the period. Destination Wealth Management bought a new position in Toronto-Dominion Bank in the 2nd quarter worth $139,000. Quad Cities Investment Group LLC bought a new position in Toronto-Dominion Bank in the 2nd quarter worth $139,000. Finally, Atlas Capital Advisors LLC raised its holdings in Toronto-Dominion Bank by 1,361.3% in the 2nd quarter. Atlas Capital Advisors LLC now owns 2,455 shares of the bank’s stock worth $142,000 after purchasing an additional 2,287 shares during the period. 47.43% of the stock is currently owned by hedge funds and other institutional investors.
Shares of TD stock opened at $53.70 on Thursday. Toronto-Dominion Bank has a 52-week low of $52.83 and a 52-week high of $62.00. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $99.79 billion, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 0.96 and a beta of 1.01.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 31st. Shareholders of record on Wednesday, October 10th were paid a $0.5144 dividend. The ex-dividend date was Tuesday, October 9th. This represents a $2.06 dividend on an annualized basis and a yield of 3.83%. Toronto-Dominion Bank’s payout ratio is presently 49.06%.
A number of equities analysts recently commented on TD shares. Zacks Investment Research cut Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Friday, November 9th. TheStreet upgraded Toronto-Dominion Bank from a “c+” rating to a “b” rating in a research note on Tuesday, September 4th. ValuEngine lowered Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, November 7th. Finally, Barclays reiterated a “hold” rating on shares of Toronto-Dominion Bank in a research note on Friday, November 16th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $79.00.
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About Toronto-Dominion Bank
The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. It operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The company offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to small, medium, and large businesses; financing options to customers at point of sale for automotive and recreational vehicle purchases through auto dealer network; credit cards; investing, advice-based, and asset management services to retail and institutional clients; and property and casualty insurance, as well as life and health insurance products.
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