PCJ Investment Counsel Ltd. Boosts Stake in The Toronto-Dominion Bank (NYSE:TD)

PCJ Investment Counsel Ltd. increased its position in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 26.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 86,550 shares of the bank’s stock after buying an additional 18,010 shares during the period. Toronto-Dominion Bank accounts for about 1.7% of PCJ Investment Counsel Ltd.’s investment portfolio, making the stock its 15th biggest position. PCJ Investment Counsel Ltd.’s holdings in Toronto-Dominion Bank were worth $5,472,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TD. Galibier Capital Management Ltd. raised its position in Toronto-Dominion Bank by 24.6% during the third quarter. Galibier Capital Management Ltd. now owns 608,613 shares of the bank’s stock valued at $38,527,000 after purchasing an additional 119,978 shares during the period. Forsta AP Fonden raised its position in Toronto-Dominion Bank by 3.2% during the third quarter. Forsta AP Fonden now owns 466,500 shares of the bank’s stock valued at $29,531,000 after purchasing an additional 14,500 shares during the period. Dixon Mitchell Investment Counsel Inc. grew its stake in shares of Toronto-Dominion Bank by 4.5% during the third quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,452,493 shares of the bank’s stock valued at $91,948,000 after buying an additional 62,569 shares during the last quarter. Williams Financial LLC bought a new position in shares of Toronto-Dominion Bank during the second quarter valued at approximately $10,454,000. Finally, Creative Planning grew its stake in shares of Toronto-Dominion Bank by 9.8% during the third quarter. Creative Planning now owns 144,251 shares of the bank’s stock valued at $9,125,000 after buying an additional 12,879 shares during the last quarter. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Toronto-Dominion Bank Stock Down 0.8 %

Toronto-Dominion Bank stock opened at $55.84 on Wednesday. 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 stock has a market capitalization of $97.73 billion, a price-to-earnings ratio of 17.84, a PEG ratio of 1.59 and a beta of 0.82. The Toronto-Dominion Bank has a 1-year low of $53.52 and a 1-year high of $65.12. The business has a fifty day moving average price of $59.25 and a 200-day moving average price of $57.73.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings results on Thursday, August 22nd. The bank reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.56. Toronto-Dominion Bank had a return on equity of 14.34% and a net margin of 6.94%. The company had revenue of $14.18 billion during the quarter, compared to analysts’ expectations of $9.40 billion. During the same quarter in the previous year, the firm posted $1.48 EPS. The firm’s revenue was up 9.8% compared to the same quarter last year. Equities research analysts forecast that The Toronto-Dominion Bank will post 5.8 EPS for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were issued a $0.739 dividend. The ex-dividend date was Thursday, October 10th. This represents a $2.96 annualized dividend and a dividend yield of 5.29%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 96.17%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. StockNews.com cut Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Thursday, August 22nd. Royal Bank of Canada cut Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research note on Friday, October 11th. Finally, National Bank Financial raised Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research note on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Toronto-Dominion Bank presently has a consensus rating of “Hold” and a consensus target price of $84.00.

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.