Cumberland Partners Ltd Grows Position in The Toronto-Dominion Bank (NYSE:TD)

Cumberland Partners Ltd lifted its holdings in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 9.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 77,551 shares of the bank’s stock after purchasing an additional 6,408 shares during the period. Cumberland Partners Ltd’s holdings in Toronto-Dominion Bank were worth $4,909,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Galibier Capital Management Ltd. grew its holdings in Toronto-Dominion Bank by 24.6% in the 3rd quarter. Galibier Capital Management Ltd. now owns 608,613 shares of the bank’s stock valued at $38,527,000 after buying an additional 119,978 shares in the last quarter. Forsta AP Fonden raised its stake in Toronto-Dominion Bank by 3.2% during the third quarter. Forsta AP Fonden now owns 466,500 shares of the bank’s stock worth $29,531,000 after purchasing an additional 14,500 shares during the period. Dixon Mitchell Investment Counsel Inc. boosted its holdings in Toronto-Dominion Bank by 4.5% in the 3rd quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,452,493 shares of the bank’s stock valued at $91,948,000 after purchasing an additional 62,569 shares during the last quarter. Williams Financial LLC purchased a new stake in shares of Toronto-Dominion Bank in the 2nd quarter valued at approximately $10,454,000. Finally, Creative Planning increased its holdings in shares of Toronto-Dominion Bank by 9.8% during the 3rd quarter. Creative Planning now owns 144,251 shares of the bank’s stock worth $9,125,000 after buying an additional 12,879 shares during the last quarter. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Toronto-Dominion Bank Stock Down 0.3 %

Shares of TD stock traded down $0.16 during trading on Tuesday, reaching $56.77. The company’s stock had a trading volume of 91,808 shares, compared to its average volume of 2,763,806. The Toronto-Dominion Bank has a 1-year low of $53.52 and a 1-year high of $65.12. The stock’s 50-day moving average price is $59.75 and its 200 day moving average price is $57.81. The company has a market capitalization of $99.26 billion, a price-to-earnings ratio of 18.19, a P/E/G ratio of 1.61 and a beta of 0.82. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.02 and a quick ratio of 1.02.

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

Toronto-Dominion Bank Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were given a dividend of $0.739 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 5.21%. The ex-dividend date was Thursday, October 10th. Toronto-Dominion Bank’s dividend payout ratio is presently 96.17%.

Analyst Upgrades and Downgrades

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

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.