The Toronto-Dominion Bank (NYSE:TD) is Connor Clark & Lunn Investment Management Ltd.’s 3rd Largest Position

Connor Clark & Lunn Investment Management Ltd. increased its position in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 1.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,761,308 shares of the bank’s stock after purchasing an additional 144,427 shares during the quarter. Toronto-Dominion Bank accounts for 3.0% of Connor Clark & Lunn Investment Management Ltd.’s investment portfolio, making the stock its 3rd biggest holding. Connor Clark & Lunn Investment Management Ltd.’s holdings in Toronto-Dominion Bank were worth $617,166,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp increased its stake in shares of Toronto-Dominion Bank by 100.3% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 193,514 shares of the bank’s stock worth $11,683,000 after purchasing an additional 96,900 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of Toronto-Dominion Bank by 192.4% during the first quarter. Bessemer Group Inc. now owns 67,246 shares of the bank’s stock valued at $4,059,000 after acquiring an additional 44,249 shares during the last quarter. LGT Group Foundation boosted its stake in shares of Toronto-Dominion Bank by 7.4% during the first quarter. LGT Group Foundation now owns 17,450 shares of the bank’s stock valued at $1,054,000 after acquiring an additional 1,200 shares during the last quarter. CreativeOne Wealth LLC purchased a new stake in Toronto-Dominion Bank during the 1st quarter worth about $245,000. Finally, EP Wealth Advisors LLC raised its stake in Toronto-Dominion Bank by 7.2% in the 1st quarter. EP Wealth Advisors LLC now owns 10,546 shares of the bank’s stock valued at $637,000 after purchasing an additional 704 shares during the last quarter. Institutional investors and hedge funds own 52.37% of the company’s stock.

Toronto-Dominion Bank Stock Performance

Shares of TD stock opened at $55.84 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $97.73 billion, a price-to-earnings ratio of 17.84, a price-to-earnings-growth ratio of 1.59 and a beta of 0.82. The Toronto-Dominion Bank has a one year low of $53.52 and a one year high of $65.12. The company has a 50 day moving average price of $59.25 and a 200 day moving average price of $57.73.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.56. Toronto-Dominion Bank had a return on equity of 14.34% and a net margin of 6.94%. The business had revenue of $14.18 billion for the quarter, compared to analyst estimates of $9.40 billion. During the same period last year, the company posted $1.48 EPS. The business’s quarterly revenue was up 9.8% on a year-over-year basis. Sell-side analysts anticipate that The Toronto-Dominion Bank will post 5.8 EPS for the current year.

Toronto-Dominion Bank Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were paid a $0.739 dividend. This represents a $2.96 annualized dividend and a dividend yield of 5.29%. The ex-dividend date of this dividend was Thursday, October 10th. Toronto-Dominion Bank’s dividend payout ratio is currently 96.17%.

Wall Street Analyst Weigh In

TD has been the topic of several analyst reports. Royal Bank of Canada cut shares of Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research note on Friday, October 11th. StockNews.com downgraded Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Thursday, August 22nd. Finally, National Bank Financial upgraded Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Toronto-Dominion Bank has an average rating of “Hold” and an average target price of $84.00.

Toronto-Dominion Bank Profile

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.