The Toronto-Dominion Bank (NYSE:TD) Shares Sold by Cardinal Capital Management Inc.

Cardinal Capital Management Inc. reduced its position in shares of The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD by 27.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,320 shares of the bank's stock after selling 6,450 shares during the period. Cardinal Capital Management Inc.'s holdings in Toronto-Dominion Bank were worth $1,038,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Asahi Life Asset Management CO. LTD. acquired a new position in shares of Toronto-Dominion Bank in the 4th quarter valued at $416,000. Vanguard Group Inc. raised its holdings in Toronto-Dominion Bank by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 74,118,551 shares of the bank's stock valued at $3,946,072,000 after buying an additional 1,415,934 shares during the period. JPMorgan Chase & Co. lifted its position in Toronto-Dominion Bank by 3.4% in the fourth quarter. JPMorgan Chase & Co. now owns 7,213,418 shares of the bank's stock valued at $384,042,000 after buying an additional 236,037 shares during the last quarter. Nicola Wealth Management LTD. boosted its stake in Toronto-Dominion Bank by 15.5% during the fourth quarter. Nicola Wealth Management LTD. now owns 510,002 shares of the bank's stock worth $27,153,000 after buying an additional 68,400 shares during the period. Finally, Te Ahumairangi Investment Management Ltd boosted its position in shares of Toronto-Dominion Bank by 21.2% during the 4th quarter. Te Ahumairangi Investment Management Ltd now owns 63,581 shares of the bank's stock worth $3,383,000 after purchasing an additional 11,100 shares during the period. Hedge funds and other institutional investors own 52.37% of the company's stock.

Toronto-Dominion Bank Stock Up 0.9%

TD traded up $0.64 on Tuesday, reaching $70.73. The company's stock had a trading volume of 1,847,064 shares, compared to its average volume of 2,344,264. The company has a market capitalization of $121.84 billion, a price-to-earnings ratio of 20.38, a P/E/G ratio of 1.95 and a beta of 0.82. The Toronto-Dominion Bank has a fifty-two week low of $51.25 and a fifty-two week high of $70.74. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.11. The stock has a 50 day moving average of $63.35 and a two-hundred day moving average of $59.15.

Toronto-Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last issued its earnings results on Thursday, May 22nd. The bank reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.14. Toronto-Dominion Bank had a net margin of 7.37% and a return on equity of 13.96%. The business had revenue of $10.97 billion during the quarter, compared to analysts' expectations of $13.36 billion. During the same quarter in the prior year, the business posted $2.04 EPS. As a group, analysts forecast that The Toronto-Dominion Bank will post 5.48 EPS for the current fiscal year.

Toronto-Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Thursday, July 10th will be issued a dividend of $0.7568 per share. This is a positive change from Toronto-Dominion Bank's previous quarterly dividend of $0.73. The ex-dividend date is Thursday, July 10th. This represents a $3.03 annualized dividend and a dividend yield of 4.28%. Toronto-Dominion Bank's dividend payout ratio (DPR) is presently 44.72%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Jefferies Financial Group downgraded Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a research report on Tuesday, February 18th. Wall Street Zen upgraded Toronto-Dominion Bank from a "sell" rating to a "hold" rating in a research note on Saturday, May 24th. Scotiabank started coverage on Toronto-Dominion Bank in a research report on Thursday, May 15th. They issued a "sector perform" rating on the stock. Finally, Royal Bank of Canada lifted their price target on shares of Toronto-Dominion Bank from $87.00 to $93.00 and gave the stock a "sector perform" rating in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price 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.