Cumberland Partners Ltd Acquires 3,547 Shares of Toronto Dominion Bank (The) (NYSE:TD)

Key Points

• Cumberland Partners Ltd increased its holdings in Toronto Dominion Bank by 4.8% during the first quarter, owning a total of 76,698 shares worth approximately $4.6 million.
• The bank recently announced a quarterly dividend of $0.7568, representing a 4.2% yield, which is an increase from the previous dividend of $0.73.
• Toronto Dominion Bank reported a quarterly earnings per share of $1.39, exceeding analyst expectations, although revenue of $10.97 billion fell short of anticipated figures.

Cumberland Partners Ltd grew its holdings in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 4.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 76,698 shares of the bank's stock after purchasing an additional 3,547 shares during the period. Cumberland Partners Ltd's holdings in Toronto Dominion Bank were worth $4,598,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TD. PNC Financial Services Group Inc. boosted its position in Toronto Dominion Bank by 4.7% during the first quarter. PNC Financial Services Group Inc. now owns 30,690 shares of the bank's stock worth $1,840,000 after purchasing an additional 1,368 shares during the period. IFG Advisory LLC lifted its position in Toronto Dominion Bank by 165.0% during the first quarter. IFG Advisory LLC now owns 23,752 shares of the bank's stock worth $1,424,000 after purchasing an additional 14,790 shares during the period. Alberta Investment Management Corp raised its stake in Toronto Dominion Bank by 2.9% during the first quarter. Alberta Investment Management Corp now owns 4,629,156 shares of the bank's stock worth $277,347,000 after acquiring an additional 131,158 shares in the last quarter. US Bancorp DE raised its stake in Toronto Dominion Bank by 19.1% during the first quarter. US Bancorp DE now owns 19,666 shares of the bank's stock worth $1,179,000 after acquiring an additional 3,154 shares in the last quarter. Finally, Brentview Investment Management LLC acquired a new position in shares of Toronto Dominion Bank in the first quarter valued at approximately $40,000. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Toronto Dominion Bank Stock Performance

TD traded down $0.38 during trading hours on Friday, hitting $72.50. The stock had a trading volume of 3,761,245 shares, compared to its average volume of 2,154,574. The company's fifty day simple moving average is $72.22 and its 200 day simple moving average is $64.36. Toronto Dominion Bank has a 1 year low of $51.25 and a 1 year high of $75.58. The stock has a market cap of $124.35 billion, a PE ratio of 10.63, a price-to-earnings-growth ratio of 1.64 and a beta of 0.84. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.09.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last announced its quarterly earnings data on Thursday, May 22nd. The bank reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.14. Toronto Dominion Bank had a return on equity of 13.11% and a net margin of 13.53%. The company had revenue of $10.97 billion during the quarter, compared to analyst estimates of $13.36 billion. During the same quarter last year, the firm posted $2.04 EPS. Equities analysts anticipate that Toronto Dominion Bank will post 5.48 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Thursday, July 10th were paid a $0.7568 dividend. The ex-dividend date was Thursday, July 10th. This represents a $3.03 annualized dividend and a yield of 4.2%. This is an increase from Toronto Dominion Bank's previous quarterly dividend of $0.73. Toronto Dominion Bank's dividend payout ratio is 45.31%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TD shares. Scotiabank started coverage on shares of Toronto Dominion Bank in a research report on Thursday, May 15th. They set a "sector perform" rating for the company. Wall Street Zen upgraded Toronto Dominion Bank from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. Finally, Royal Bank Of Canada increased their price target on Toronto Dominion Bank from $87.00 to $93.00 and gave the stock a "sector perform" rating in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $93.00.

Toronto Dominion Bank 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.