Cardinal Capital Management Inc. reduced its stake in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 5.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,168,564 shares of the bank’s stock after selling 64,692 shares during the period. Toronto Dominion Bank accounts for approximately 5.8% of Cardinal Capital Management Inc.’s investment portfolio, making the stock its biggest position. Cardinal Capital Management Inc.’s holdings in Toronto Dominion Bank were worth $68,753,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the stock. Public Sector Pension investment Board raised its position in shares of Toronto Dominion Bank by 1,745.0% in the 2nd quarter. Public Sector Pension investment Board now owns 3,658,692 shares of the bank’s stock worth $184,104,000 after acquiring an additional 3,881,100 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Toronto Dominion Bank by 44.8% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 6,535,700 shares of the bank’s stock valued at $329,248,000 after buying an additional 2,022,507 shares during the period. Vanguard Group Inc. grew its stake in shares of Toronto Dominion Bank by 5.1% in the 2nd quarter. Vanguard Group Inc. now owns 41,532,070 shares of the bank’s stock valued at $2,092,385,000 after buying an additional 2,014,823 shares during the period. DSM Capital Partners LLC acquired a new stake in shares of Toronto Dominion Bank in the 3rd quarter valued at about $103,030,000. Finally, Capital International Investors grew its stake in shares of Toronto Dominion Bank by 45.9% in the 2nd quarter. Capital International Investors now owns 5,258,400 shares of the bank’s stock valued at $264,918,000 after buying an additional 1,654,000 shares during the period. 48.76% of the stock is owned by institutional investors and hedge funds.
Several brokerages have recently commented on TD. Zacks Investment Research upgraded Toronto Dominion Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, January 10th. Canaccord Genuity restated a “buy” rating and issued a $80.00 target price on shares of Toronto Dominion Bank in a research note on Thursday, November 30th. Scotiabank reiterated a “buy” rating and set a $83.00 price target on shares of Toronto Dominion Bank in a research note on Wednesday, November 22nd. Finally, Macquarie started coverage on Toronto Dominion Bank in a research note on Tuesday, October 24th. They set an “outperform” rating for the company. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $72.50.
Toronto Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings results on Thursday, November 30th. The bank reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.02). Toronto Dominion Bank had a net margin of 23.09% and a return on equity of 15.17%. equities research analysts expect that Toronto Dominion Bank will post 4.61 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Wednesday, January 10th will be paid a dividend of $0.466 per share. The ex-dividend date is Tuesday, January 9th. This represents a $1.86 dividend on an annualized basis and a yield of 3.15%. Toronto Dominion Bank’s dividend payout ratio (DPR) is currently 42.31%.
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Toronto Dominion Bank Profile
Toronto-Dominion Bank (the Bank) is a Canada-based bank, which operates in the North America. It is an online financial services firm, with over 10.2 million online and mobile customers. Its segments include Canadian Retail, U.S. Retail, Wholesale Banking and Corporate. The Canadian Retail segment provides a range of financial products and services to customers in the Canadian personal and commercial banking businesses.
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