Cardinal Point Capital Management ULC Decreases Holdings in Toronto Dominion Bank (The) $TD

Cardinal Point Capital Management ULC decreased its position in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 0.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 305,827 shares of the bank’s stock after selling 1,641 shares during the quarter. Toronto Dominion Bank accounts for about 1.7% of Cardinal Point Capital Management ULC’s holdings, making the stock its 14th biggest position. Cardinal Point Capital Management ULC’s holdings in Toronto Dominion Bank were worth $22,452,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Larson Financial Group LLC boosted its stake in shares of Toronto Dominion Bank by 122.9% during the 1st quarter. Larson Financial Group LLC now owns 428 shares of the bank’s stock worth $26,000 after acquiring an additional 236 shares in the last quarter. Richardson Financial Services Inc. acquired a new position in Toronto Dominion Bank in the 2nd quarter valued at $34,000. Brentview Investment Management LLC acquired a new position in Toronto Dominion Bank in the 1st quarter valued at $40,000. Colonial Trust Advisors acquired a new position in Toronto Dominion Bank in the 1st quarter valued at $44,000. Finally, Pandora Wealth Inc. acquired a new position in Toronto Dominion Bank in the 1st quarter valued at $60,000. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Toronto Dominion Bank Stock Up 0.1%

Shares of Toronto Dominion Bank stock opened at $80.92 on Friday. The company has a fifty day moving average price of $77.50 and a 200 day moving average price of $71.60. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.09. Toronto Dominion Bank has a twelve month low of $51.25 and a twelve month high of $82.08. The stock has a market cap of $137.63 billion, a price-to-earnings ratio of 9.45, a price-to-earnings-growth ratio of 1.66 and a beta of 0.80.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings results on Thursday, August 28th. The bank reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.45. The firm had revenue of $10.12 billion during the quarter, compared to analysts’ expectations of $13.73 billion. Toronto Dominion Bank had a net margin of 16.40% and a return on equity of 13.59%. The firm’s revenue was up 7.9% on a year-over-year basis. During the same period in the prior year, the company earned $2.05 EPS. Equities research analysts forecast that Toronto Dominion Bank will post 5.48 earnings per share for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 10th will be given a dividend of $1.05 per share. The ex-dividend date of this dividend is Friday, October 10th. This is a positive change from Toronto Dominion Bank’s previous quarterly dividend of $0.76. This represents a $4.20 annualized dividend and a dividend yield of 5.2%. Toronto Dominion Bank’s dividend payout ratio is 35.75%.

Analyst Ratings Changes

Several brokerages have weighed in on TD. Desjardins upgraded Toronto Dominion Bank from a “hold” rating to a “buy” rating in a report on Wednesday, August 13th. Wall Street Zen downgraded Toronto Dominion Bank from a “hold” rating to a “sell” rating in a report on Friday, September 26th. Royal Bank Of Canada upgraded Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a report on Friday, October 3rd. Zacks Research downgraded Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 13th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Toronto Dominion Bank in a report on Wednesday, October 8th. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $93.00.

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.