Cardinal Capital Management Inc. Sells 2,525 Shares of The Toronto-Dominion Bank (NYSE:TD)

Cardinal Capital Management Inc. trimmed its holdings in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 9.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,925 shares of the bank’s stock after selling 2,525 shares during the period. Cardinal Capital Management Inc.’s holdings in Toronto-Dominion Bank were worth $1,515,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Williams Financial LLC bought a new stake in Toronto-Dominion Bank in the 2nd quarter valued at $10,454,000. Dixon Mitchell Investment Counsel Inc. grew its stake in shares of Toronto-Dominion Bank by 2.7% in the first quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,388,528 shares of the bank’s stock valued at $83,881,000 after acquiring an additional 37,002 shares in the last quarter. Intech Investment Management LLC bought a new position in Toronto-Dominion Bank during the first quarter worth about $6,454,000. FORA Capital LLC acquired a new stake in Toronto-Dominion Bank in the 1st quarter worth about $4,025,000. Finally, Nexus Investment Management ULC boosted its holdings in Toronto-Dominion Bank by 5.7% in the 1st quarter. Nexus Investment Management ULC now owns 840,410 shares of the bank’s stock valued at $50,758,000 after purchasing an additional 45,560 shares during the period. 52.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on TD shares. UBS Group initiated coverage on shares of Toronto-Dominion Bank in a research report on Tuesday, July 2nd. They issued a “neutral” rating for the company. Royal Bank of Canada cut Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research report on Friday. StockNews.com cut shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday, August 22nd. Finally, National Bank Financial upgraded shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Toronto-Dominion Bank presently has an average rating of “Hold” and an average price target of $84.00.

Toronto-Dominion Bank Price Performance

Toronto-Dominion Bank stock opened at $57.01 on Friday. The company has a market capitalization of $99.68 billion, a PE ratio of 18.21, a P/E/G ratio of 1.73 and a beta of 0.81. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10. The stock has a 50-day moving average price of $60.64 and a two-hundred day moving average price of $58.17. The Toronto-Dominion Bank has a 12 month low of $53.52 and a 12 month high of $65.12.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.56. Toronto-Dominion Bank had a return on equity of 14.34% and a net margin of 6.94%. The business had revenue of $14.18 billion during the quarter, compared to analyst estimates of $9.40 billion. During the same period last year, the company earned $1.48 EPS. Toronto-Dominion Bank’s revenue for the quarter was up 9.8% compared to the same quarter last year. Analysts expect that The Toronto-Dominion Bank will post 5.84 EPS for the current year.

Toronto-Dominion Bank Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be given a dividend of $0.739 per share. This represents a $2.96 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date of this dividend is Thursday, October 10th. Toronto-Dominion Bank’s dividend payout ratio is presently 96.49%.

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.