Cardinal Capital Management Increases Stock Position in The Toronto-Dominion Bank (NYSE:TD)

Cardinal Capital Management raised its position in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 10.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,656 shares of the bank’s stock after buying an additional 3,970 shares during the period. Cardinal Capital Management’s holdings in Toronto-Dominion Bank were worth $2,576,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Toronto-Dominion Bank by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 72,384,265 shares of the bank’s stock worth $4,361,876,000 after purchasing an additional 1,303,730 shares in the last quarter. TD Asset Management Inc raised its holdings in Toronto-Dominion Bank by 28.9% in the 4th quarter. TD Asset Management Inc now owns 46,469,553 shares of the bank’s stock worth $3,017,384,000 after purchasing an additional 10,415,591 shares in the last quarter. Canoe Financial LP raised its holdings in Toronto-Dominion Bank by 2,035.4% in the 4th quarter. Canoe Financial LP now owns 42,808,439 shares of the bank’s stock worth $2,766,281,000 after purchasing an additional 40,803,711 shares in the last quarter. Bank of Nova Scotia raised its holdings in Toronto-Dominion Bank by 0.3% in the 4th quarter. Bank of Nova Scotia now owns 33,335,463 shares of the bank’s stock worth $2,154,141,000 after purchasing an additional 105,772 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its holdings in Toronto-Dominion Bank by 0.6% in the 4th quarter. 1832 Asset Management L.P. now owns 24,569,253 shares of the bank’s stock worth $1,587,665,000 after purchasing an additional 149,407 shares in the last quarter. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Stock Performance

Shares of NYSE TD traded up $0.17 during trading on Thursday, reaching $54.87. 2,024,027 shares of the company traded hands, compared to its average volume of 2,897,009. The firm has a 50 day simple moving average of $56.20 and a 200-day simple moving average of $59.04. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $95.88 billion, a PE ratio of 12.44, a P/E/G ratio of 1.50 and a beta of 0.83. The Toronto-Dominion Bank has a 52-week low of $53.52 and a 52-week high of $66.15.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings results on Thursday, May 23rd. The bank reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.15. The firm had revenue of $10.18 billion for the quarter, compared to the consensus estimate of $9.90 billion. Toronto-Dominion Bank had a net margin of 9.96% and a return on equity of 14.38%. Equities research analysts anticipate that The Toronto-Dominion Bank will post 5.86 earnings per share for the current year.

Toronto-Dominion Bank Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th will be issued a dividend of $0.74 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 5.39%. The ex-dividend date is Wednesday, July 10th. Toronto-Dominion Bank’s payout ratio is presently 68.64%.

Analysts Set New Price Targets

Several research analysts recently issued reports on TD shares. Scotiabank upgraded shares of Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, April 17th. Barclays started coverage on shares of Toronto-Dominion Bank in a research note on Wednesday, March 20th. They issued an “equal weight” rating for the company. BMO Capital Markets decreased their price target on shares of Toronto-Dominion Bank from $86.00 to $84.00 and set a “market perform” rating for the company in a research note on Friday, May 24th. Cibc World Mkts upgraded shares of Toronto-Dominion Bank from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 24th. Finally, National Bank Financial lowered shares of Toronto-Dominion Bank from a “sector perform” rating to an “underperform” rating in a research note on Thursday, May 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Toronto-Dominion Bank currently has a consensus rating of “Hold” and a consensus price target of $88.00.

Toronto-Dominion Bank Company 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.