Cardinal Point Capital Management ULC Cuts Stock Holdings in Toronto Dominion Bank (The) $TD

Cardinal Point Capital Management ULC reduced its position in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 2.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 298,640 shares of the bank’s stock after selling 7,187 shares during the period. Toronto Dominion Bank comprises approximately 1.7% of Cardinal Point Capital Management ULC’s holdings, making the stock its 14th largest position. Cardinal Point Capital Management ULC’s holdings in Toronto Dominion Bank were worth $23,872,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. HBK Sorce Advisory LLC boosted its position in shares of Toronto Dominion Bank by 5.0% during the third quarter. HBK Sorce Advisory LLC now owns 2,953 shares of the bank’s stock valued at $238,000 after buying an additional 141 shares during the last quarter. Tobam lifted its stake in Toronto Dominion Bank by 44.5% during the 2nd quarter. Tobam now owns 490 shares of the bank’s stock valued at $36,000 after acquiring an additional 151 shares during the period. PDS Planning Inc boosted its holdings in shares of Toronto Dominion Bank by 2.2% during the 3rd quarter. PDS Planning Inc now owns 7,808 shares of the bank’s stock valued at $624,000 after acquiring an additional 169 shares during the last quarter. Checchi Capital Advisers LLC grew its stake in shares of Toronto Dominion Bank by 2.8% in the third quarter. Checchi Capital Advisers LLC now owns 7,202 shares of the bank’s stock worth $576,000 after acquiring an additional 199 shares during the period. Finally, Cardinal Capital Management Inc. grew its stake in shares of Toronto Dominion Bank by 1.2% in the third quarter. Cardinal Capital Management Inc. now owns 17,520 shares of the bank’s stock worth $1,402,000 after acquiring an additional 200 shares during the period. Institutional investors own 52.37% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on TD. Wall Street Zen cut shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. Raymond James Financial upgraded Toronto Dominion Bank to a “hold” rating in a research report on Monday, November 24th. Weiss Ratings restated a “buy (b)” rating on shares of Toronto Dominion Bank in a research note on Wednesday, January 21st. Jefferies Financial Group cut shares of Toronto Dominion Bank from a “buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Finally, National Bank Financial raised shares of Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a report on Thursday, December 18th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $93.00.

Toronto Dominion Bank Stock Up 1.8%

Shares of TD stock opened at $96.62 on Monday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.03 and a quick ratio of 1.03. Toronto Dominion Bank has a one year low of $54.87 and a one year high of $96.74. The company’s fifty day moving average price is $92.89 and its 200-day moving average price is $83.28. The company has a market capitalization of $162.16 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 1.35 and a beta of 0.67.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last issued its earnings results on Thursday, December 4th. The bank reported $1.56 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.10. The company had revenue of $11.44 billion during the quarter, compared to the consensus estimate of $10.10 billion. Toronto Dominion Bank had a net margin of 16.52% and a return on equity of 13.90%. Toronto Dominion Bank’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.72 EPS. Sell-side analysts expect that Toronto Dominion Bank will post 5.48 EPS for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Saturday, January 31st. Investors of record on Friday, January 9th were paid a dividend of $1.08 per share. This is a boost from Toronto Dominion Bank’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend was Friday, January 9th. This represents a $4.32 annualized dividend and a yield of 4.5%. Toronto Dominion Bank’s dividend payout ratio is 37.25%.

Toronto Dominion Bank Company 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.