The Toronto-Dominion Bank (NYSE:TD) Shares Sold by Galibier Capital Management Ltd.

Galibier Capital Management Ltd. lowered its position in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 2.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 503,575 shares of the bank’s stock after selling 14,505 shares during the quarter. Toronto-Dominion Bank accounts for approximately 7.3% of Galibier Capital Management Ltd.’s holdings, making the stock its biggest holding. Galibier Capital Management Ltd.’s holdings in Toronto-Dominion Bank were worth $30,421,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TD. AMF Tjanstepension AB raised its holdings in Toronto-Dominion Bank by 53.5% in the first quarter. AMF Tjanstepension AB now owns 481,783 shares of the bank’s stock valued at $29,214,000 after acquiring an additional 167,974 shares in the last quarter. Calton & Associates Inc. raised its stake in shares of Toronto-Dominion Bank by 11.1% in the 1st quarter. Calton & Associates Inc. now owns 4,600 shares of the bank’s stock valued at $278,000 after purchasing an additional 459 shares in the last quarter. Hennessy Advisors Inc. lifted its position in shares of Toronto-Dominion Bank by 2.1% during the first quarter. Hennessy Advisors Inc. now owns 86,600 shares of the bank’s stock worth $5,229,000 after purchasing an additional 1,800 shares during the last quarter. Cardinal Capital Management grew its stake in Toronto-Dominion Bank by 10.3% in the first quarter. Cardinal Capital Management now owns 42,656 shares of the bank’s stock worth $2,576,000 after purchasing an additional 3,970 shares in the last quarter. Finally, Affinity Capital Advisors LLC bought a new stake in Toronto-Dominion Bank in the first quarter valued at about $642,000. 52.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on the company. BMO Capital Markets reduced their target price on Toronto-Dominion Bank from $86.00 to $84.00 and set a “market perform” rating on the stock in a report on Friday, May 24th. National Bank Financial downgraded shares of Toronto-Dominion Bank from a “sector perform” rating to an “underperform” rating in a report on Thursday, May 23rd. StockNews.com lowered shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Thursday. Barclays initiated coverage on shares of Toronto-Dominion Bank in a research report on Wednesday, March 20th. They issued an “equal weight” rating on the stock. Finally, Scotiabank raised shares of Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, April 17th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Toronto-Dominion Bank currently has a consensus rating of “Hold” and an average price target of $88.00.

Toronto-Dominion Bank Stock Performance

Shares of Toronto-Dominion Bank stock traded up $0.09 during trading on Friday, hitting $54.96. 1,830,757 shares of the stock were exchanged, compared to its average volume of 2,267,793. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.01 and a current ratio of 1.01. The Toronto-Dominion Bank has a 12 month low of $53.52 and a 12 month high of $66.15. The stock’s fifty day moving average is $56.09 and its 200 day moving average is $58.97. The stock has a market cap of $96.03 billion, a PE ratio of 12.49, a P/E/G ratio of 1.51 and a beta of 0.83.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its earnings results on Thursday, May 23rd. The bank reported $1.50 EPS for the quarter, topping the consensus estimate of $1.35 by $0.15. The firm had revenue of $10.18 billion during the quarter, compared to analysts’ expectations of $9.90 billion. Toronto-Dominion Bank had a net margin of 9.96% and a return on equity of 14.38%. As a group, sell-side analysts anticipate that The Toronto-Dominion Bank will post 5.86 EPS for the current year.

Toronto-Dominion Bank Cuts Dividend

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

About Toronto-Dominion Bank

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.