Toronto Dominion Bank (The) $TD Shares Sold by Cardinal Point Capital Management ULC

Cardinal Point Capital Management ULC lessened its holdings in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 1.9% during the third quarter, Holdings Channel.com reports. The firm owned 280,539 shares of the bank’s stock after selling 5,488 shares during the quarter. Toronto Dominion Bank makes up 1.8% of Cardinal Point Capital Management ULC’s investment portfolio, making the stock its 16th largest position. Cardinal Point Capital Management ULC’s holdings in Toronto Dominion Bank were worth $33,086,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TD. Cornerstone Financial Management LLC raised its stake in shares of Toronto Dominion Bank by 77.2% during the 2nd quarter. Cornerstone Financial Management LLC now owns 218 shares of the bank’s stock worth $26,000 after buying an additional 95 shares in the last quarter. Brown Lisle Cummings Inc. boosted its stake in shares of Toronto Dominion Bank by 88.4% in the first quarter. Brown Lisle Cummings Inc. now owns 407 shares of the bank’s stock valued at $38,000 after buying an additional 191 shares in the last quarter. Pension & Wealth Management Advisors Inc. purchased a new stake in shares of Toronto Dominion Bank in the third quarter valued at approximately $41,000. Continuum Advisory LLC acquired a new position in Toronto Dominion Bank during the second quarter worth $43,000. Finally, NBH Bank acquired a new position in Toronto Dominion Bank during the second quarter worth $73,000. Institutional investors and hedge funds own 52.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on TD shares. Weiss Ratings upgraded Toronto Dominion Bank from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, September 28th. Keefe, Bruyette & Woods initiated coverage on shares of Toronto Dominion Bank in a research note on Friday, August 21st. They issued a “market perform” rating for the company. Finally, Wall Street Zen upgraded shares of Toronto Dominion Bank from a “sell” rating to a “hold” rating in a report on Saturday, August 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Toronto Dominion Bank currently has an average rating of “Moderate Buy” and an average price target of $148.00.

Toronto Dominion Bank Price Performance

Shares of NYSE TD opened at $124.68 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.03 and a quick ratio of 1.03. Toronto Dominion Bank has a 1-year low of $79.52 and a 1-year high of $125.46. The company has a market capitalization of $205.07 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 1.21 and a beta of 0.75. The business has a 50-day moving average of $119.93 and a 200-day moving average of $115.85.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its earnings results on Thursday, August 27th. The bank reported $1.98 EPS for the quarter, beating the consensus estimate of $1.74 by $0.24. The business had revenue of $12.07 billion for the quarter, compared to the consensus estimate of $10.70 billion. Toronto Dominion Bank had a return on equity of 14.88% and a net margin of 14.41%. The company’s revenue was up 6.9% on a year-over-year basis. During the same period last year, the business posted $2.20 EPS. On average, equities analysts anticipate that Toronto Dominion Bank will post 7.04 EPS for the current fiscal year.

Toronto Dominion Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, October 31st. Stockholders of record on Friday, October 9th will be paid a C$1.12 dividend. The ex-dividend date is Friday, October 9th. This represents a $4.48 annualized dividend and a dividend yield of 3.6%. Toronto Dominion Bank’s dividend payout ratio is 46.81%.

Toronto Dominion Bank Profile

Toronto-Dominion Bank, operating as TD Bank Group, is a Canadian financial services company headquartered in Toronto, Ontario. The institution traces its history to the Bank of Toronto, founded in 1855, and the Dominion Bank, founded in 1869; the two banks merged in 1955 to form Toronto-Dominion Bank.

TD provides a broad range of banking and financial services through its Canadian and U.S. operations. Its offerings include personal and business deposit accounts, mortgages, consumer and commercial lending, credit cards, investment products, insurance, wealth management and financial advice.