Connor Clark & Lunn Investment Management Ltd. Raises Stock Position in Toronto Dominion Bank (The) $TD

Connor Clark & Lunn Investment Management Ltd. raised its stake in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 3.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,113,286 shares of the bank’s stock after buying an additional 316,901 shares during the quarter. Toronto Dominion Bank accounts for about 2.5% of Connor Clark & Lunn Investment Management Ltd.’s portfolio, making the stock its 5th largest position. Connor Clark & Lunn Investment Management Ltd.’s holdings in Toronto Dominion Bank were worth $808,477,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TD. Canerector Inc. raised its holdings 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 buying an additional 22,056,000 shares during the period. Norges Bank acquired a new position in shares of Toronto Dominion Bank during the 2nd quarter worth about $1,543,639,000. Picton Mahoney Asset Management acquired a new stake in shares of Toronto Dominion Bank in the second quarter valued at approximately $267,475,000. Vanguard Group Inc. boosted its position in Toronto Dominion Bank by 3.4% during the second quarter. Vanguard Group Inc. now owns 77,187,442 shares of the bank’s stock worth $5,677,291,000 after purchasing an additional 2,552,603 shares during the period. Finally, Public Sector Pension Investment Board boosted its holdings in shares of 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 buying an additional 2,497,700 shares during the period. 52.37% of the stock is currently owned by institutional investors.

Toronto Dominion Bank Stock Performance

Toronto Dominion Bank stock opened at $95.90 on Thursday. Toronto Dominion Bank has a fifty-two week low of $54.87 and a fifty-two week high of $99.84. The company has a market capitalization of $160.27 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 1.09 and a beta of 0.66. The stock has a fifty day moving average of $95.50 and a two-hundred day moving average of $86.91. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.05 and a current ratio of 1.05.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings data on Thursday, February 26th. The bank reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.13. The business had revenue of $11.01 billion for the quarter, compared to the consensus estimate of $10.43 billion. Toronto Dominion Bank had a return on equity of 14.29% and a net margin of 17.52%.The business’s revenue was up 18.1% on a year-over-year basis. During the same period in the prior year, the business earned $2.02 earnings per share. On average, analysts anticipate that Toronto Dominion Bank will post 5.48 EPS for the current fiscal year.

Toronto Dominion Bank Announces Dividend

The company also recently declared 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 dividend yield of 4.5%. The ex-dividend date of this dividend is Thursday, April 9th. Toronto Dominion Bank’s dividend payout ratio (DPR) is currently 34.92%.

Analyst Upgrades and Downgrades

TD has been the topic of a number of research reports. Wall Street Zen raised Toronto Dominion Bank from a “sell” rating to a “hold” rating in a report on Monday, March 2nd. Canadian Imperial Bank of Commerce lowered shares of Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 12th. National Bank Financial raised shares of Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research report on Thursday, December 18th. Weiss Ratings reissued a “buy (b)” rating on shares of Toronto Dominion Bank in a report on Wednesday, January 21st. Finally, Jefferies Financial Group lowered Toronto Dominion Bank from a “buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Toronto Dominion Bank presently has a consensus rating of “Moderate Buy” and an average target price of $93.00.

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.