CIBC Asset Management Inc boosted its stake in The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD by 0.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,575,599 shares of the bank's stock after purchasing an additional 59,956 shares during the quarter. Toronto-Dominion Bank comprises about 2.9% of CIBC Asset Management Inc's investment portfolio, making the stock its 5th largest holding. CIBC Asset Management Inc owned about 0.95% of Toronto-Dominion Bank worth $882,241,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company increased its holdings in shares of Toronto-Dominion Bank by 24.9% in the third quarter. The Manufacturers Life Insurance Company now owns 13,509,261 shares of the bank's stock worth $854,815,000 after acquiring an additional 2,689,532 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Toronto-Dominion Bank by 2.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 12,186,545 shares of the bank's stock worth $770,921,000 after acquiring an additional 301,649 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Toronto-Dominion Bank by 1.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 9,761,308 shares of the bank's stock worth $617,166,000 after acquiring an additional 144,427 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Toronto-Dominion Bank by 6.4% in the third quarter. Geode Capital Management LLC now owns 7,962,173 shares of the bank's stock worth $506,846,000 after acquiring an additional 479,624 shares in the last quarter. Finally, FMR LLC increased its holdings in shares of Toronto-Dominion Bank by 9.9% in the third quarter. FMR LLC now owns 6,553,761 shares of the bank's stock worth $414,417,000 after acquiring an additional 587,947 shares in the last quarter. Institutional investors own 52.37% of the company's stock.
Several equities research analysts have issued reports on the company. Desjardins downgraded Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a report on Friday, December 6th. BMO Capital Markets upgraded Toronto-Dominion Bank from a "market perform" rating to an "outperform" rating in a report on Thursday, December 19th. Scotiabank downgraded Toronto-Dominion Bank from a "sector outperform" rating to a "sector perform" rating in a report on Friday, December 6th. Bank of America upgraded Toronto-Dominion Bank from a "neutral" rating to a "buy" rating in a report on Friday, January 17th. Finally, Royal Bank of Canada decreased their price objective on Toronto-Dominion Bank from $82.00 to $77.00 and set a "sector perform" rating for the company in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Toronto-Dominion Bank has an average rating of "Hold" and an average target price of $80.50.
Get Our Latest Analysis on Toronto-Dominion Bank
Shares of NYSE TD opened at $59.76 on Monday. The stock has a 50 day moving average price of $55.36 and a 200 day moving average price of $57.43. The Toronto-Dominion Bank has a 52 week low of $51.25 and a 52 week high of $64.91. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market capitalization of $104.62 billion, a PE ratio of 17.22, a price-to-earnings-growth ratio of 1.86 and a beta of 0.84.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 10th were given a $0.7482 dividend. This represents a $2.99 dividend on an annualized basis and a dividend yield of 5.01%. This is a boost from Toronto-Dominion Bank's previous quarterly dividend of $0.74. The ex-dividend date was Friday, January 10th. Toronto-Dominion Bank's dividend payout ratio (DPR) is presently 84.15%.
The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through four segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.
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