5 Best Canadian Dividend Stocks to Buy Now

4. The Toronto-Dominion Bank (NYSE: TD)

Number of Hedge Fund Holders: 19
Dividend Yield: 4.81%

The Toronto-Dominion Bank (NYSE: TD) is a company operating in the diversified banks industry to provide a range of personal and commercial banking products and services in the US and Canada. It ranks 4th on our list of the best Canadian dividend stocks to buy now.

National Bank’s Gabriel Dechaine has raised his price target on The Toronto-Dominion Bank (NYSE: TD) shares this June. The new target is $72.37, and Dechaine also holds a Sector Perform rating on the company’s shares.

In the fiscal second quarter of 2021, The Toronto-Dominion Bank (NYSE: TD) had an EPS of $1.69, beating estimates by $0.23. The company’s revenue was $8.14 billion, up 13.45% year over year and beating estimates by $12.35 million. The Toronto-Dominion Bank (NYSE: TD) has also gained 13.32% in the past 6 months and 14.94% year to date.

By the end of the first quarter of 2021, 19 hedge funds out of the 866 tracked by Insider Monkey held stakes in The Toronto-Dominion Bank (NYSE: TD) worth roughly $212 million. This is compared to 22 hedge funds in the previous quarter with a total stake value of approximately $171 million.