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

Cardinal Capital Management raised its position in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 10.3% during the first quarter, HoldingsChannel reports. The firm owned 42,656 shares of the bank’s stock after purchasing 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.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. increased its stake in shares of Toronto-Dominion Bank by 5.9% in the 3rd quarter. Envestnet Asset Management Inc. now owns 160,587 shares of the bank’s stock worth $9,677,000 after acquiring an additional 8,980 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of Toronto-Dominion Bank by 29.8% in the 3rd quarter. Acadian Asset Management LLC now owns 51,200 shares of the bank’s stock worth $3,098,000 after acquiring an additional 11,758 shares during the last quarter. LPL Financial LLC increased its stake in shares of Toronto-Dominion Bank by 13.2% in the 3rd quarter. LPL Financial LLC now owns 235,966 shares of the bank’s stock worth $14,219,000 after acquiring an additional 27,565 shares during the last quarter. Mariner LLC increased its stake in shares of Toronto-Dominion Bank by 7.9% in the 3rd quarter. Mariner LLC now owns 67,827 shares of the bank’s stock worth $4,087,000 after acquiring an additional 4,937 shares during the last quarter. Finally, Stifel Financial Corp increased its stake in shares of Toronto-Dominion Bank by 2.7% in the 3rd quarter. Stifel Financial Corp now owns 100,991 shares of the bank’s stock worth $6,086,000 after acquiring an additional 2,621 shares during the last quarter. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Stock Up 0.3 %

Shares of NYSE:TD traded up $0.17 during trading hours on Thursday, reaching $54.87. The stock had a trading volume of 2,024,027 shares, compared to its average volume of 2,897,009. The Toronto-Dominion Bank has a 1 year low of $53.52 and a 1 year high of $66.15. The firm’s 50 day moving average is $56.20 and its 200-day moving average is $59.04. 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 stock has a market capitalization of $95.88 billion, a price-to-earnings ratio of 12.44, a P/E/G ratio of 1.50 and a beta of 0.83.

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

Toronto-Dominion Bank Cuts Dividend

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

Analyst Upgrades and Downgrades

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

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.