Cardinal Point Capital Management ULC Sells 7,187 Shares of Toronto Dominion Bank (The) $TD

Cardinal Point Capital Management ULC trimmed its position in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 2.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 298,640 shares of the bank’s stock after selling 7,187 shares during the quarter. Toronto Dominion Bank accounts for about 1.7% of Cardinal Point Capital Management ULC’s investment portfolio, making the stock its 14th largest holding. 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 hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board grew its stake in shares of Toronto Dominion Bank by 18.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 12,470,618 shares of the bank’s stock worth $917,832,000 after buying an additional 1,946,172 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Toronto Dominion Bank by 0.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,815,706 shares of the bank’s stock valued at $1,010,852,000 after acquiring an additional 115,203 shares during the last quarter. Picton Mahoney Asset Management purchased a new position in Toronto Dominion Bank in the second quarter worth about $267,475,000. Bank of New York Mellon Corp increased its stake in Toronto Dominion Bank by 3.2% during the second quarter. Bank of New York Mellon Corp now owns 1,658,144 shares of the bank’s stock worth $121,791,000 after acquiring an additional 51,698 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board raised its position in Toronto Dominion Bank by 304.0% during the second quarter. Ontario Teachers Pension Plan Board now owns 2,446,307 shares of the bank’s stock valued at $180,047,000 after purchasing an additional 1,840,747 shares during the period. 52.37% of the stock is owned by institutional investors.

Toronto Dominion Bank Stock Up 1.8%

Shares of NYSE TD opened at $96.62 on Monday. Toronto Dominion Bank has a 52-week low of $54.87 and a 52-week high of $96.74. The firm 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. The stock has a 50 day moving average price of $92.89 and a 200 day moving average price of $83.28. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.03 and a current ratio of 1.03.

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

Toronto Dominion Bank Increases Dividend

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

Wall Street Analysts Forecast Growth

TD has been the topic of several recent research reports. Wall Street Zen lowered Toronto Dominion Bank from a “hold” rating to a “sell” rating in a report on Saturday, January 10th. Natl Bk Canada upgraded shares of Toronto Dominion Bank from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 17th. Jefferies Financial Group downgraded shares of Toronto Dominion Bank from a “buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Toronto Dominion Bank in a research note on Wednesday, January 21st. Finally, Raymond James Financial raised Toronto Dominion Bank to a “hold” rating in a research note on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Toronto Dominion Bank presently has an average rating of “Moderate Buy” and an average target price of $93.00.

About Toronto Dominion Bank

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.