The Toronto-Dominion Bank (NYSE:TD) Stake Increased by Dixon Mitchell Investment Counsel Inc.

Dixon Mitchell Investment Counsel Inc. grew its position in shares of The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD by 4.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,452,493 shares of the bank's stock after purchasing an additional 62,569 shares during the period. Toronto-Dominion Bank comprises about 4.2% of Dixon Mitchell Investment Counsel Inc.'s holdings, making the stock its 7th largest holding. Dixon Mitchell Investment Counsel Inc. owned approximately 0.08% of Toronto-Dominion Bank worth $91,948,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Net Worth Advisory Group bought a new stake in shares of Toronto-Dominion Bank in the 3rd quarter worth approximately $453,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Toronto-Dominion Bank by 2.8% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 22,679 shares of the bank's stock worth $1,435,000 after purchasing an additional 610 shares during the period. Cardinal Capital Management lifted its stake in Toronto-Dominion Bank by 1.4% in the third quarter. Cardinal Capital Management now owns 44,480 shares of the bank's stock worth $2,814,000 after purchasing an additional 602 shares during the last quarter. Bleakley Financial Group LLC boosted its position in Toronto-Dominion Bank by 5.2% during the third quarter. Bleakley Financial Group LLC now owns 8,381 shares of the bank's stock valued at $530,000 after buying an additional 415 shares during the period. Finally, Probity Advisors Inc. grew its stake in shares of Toronto-Dominion Bank by 16.0% during the third quarter. Probity Advisors Inc. now owns 19,236 shares of the bank's stock valued at $1,217,000 after buying an additional 2,655 shares during the last quarter. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on TD. StockNews.com cut Toronto-Dominion Bank from a "hold" rating to a "sell" rating in a report on Thursday, August 22nd. National Bank Financial upgraded shares of Toronto-Dominion Bank from an "underperform" rating to a "sector perform" rating in a report on Thursday, August 22nd. Royal Bank of Canada lowered shares of Toronto-Dominion Bank from an "outperform" rating to a "sector perform" rating in a report on Friday, October 11th. Finally, UBS Group initiated coverage on shares of Toronto-Dominion Bank in a report on Tuesday, July 2nd. They issued a "neutral" rating on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $84.00.

Toronto-Dominion Bank Trading Down 0.1 %

Toronto-Dominion Bank stock traded down $0.07 during mid-day trading on Friday, reaching $56.35. 3,162,238 shares of the company traded hands, compared to its average volume of 2,790,104. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.02 and a quick ratio of 1.02. The Toronto-Dominion Bank has a 52-week low of $53.52 and a 52-week high of $65.12. The firm has a market capitalization of $98.46 billion, a price-to-earnings ratio of 12.81, a P/E/G ratio of 1.65 and a beta of 0.81. The firm's 50 day moving average price is $60.65 and its 200 day moving average price is $58.05.

Toronto-Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last announced its quarterly earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.56. Toronto-Dominion Bank had a net margin of 6.94% and a return on equity of 14.34%. The company had revenue of $14.18 billion for the quarter, compared to analysts' expectations of $9.40 billion. During the same quarter in the previous year, the company earned $1.48 earnings per share. Toronto-Dominion Bank's quarterly revenue was up 9.8% on a year-over-year basis. On average, analysts anticipate that The Toronto-Dominion Bank will post 5.85 earnings per share for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be paid a $0.739 dividend. This represents a $2.96 dividend on an annualized basis and a dividend yield of 5.25%. The ex-dividend date is Thursday, October 10th. Toronto-Dominion Bank's payout ratio is presently 68.41%.

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.