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

PCJ Investment Counsel Ltd. lifted its holdings in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 26.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,550 shares of the bank’s stock after purchasing an additional 18,010 shares during the period. Toronto-Dominion Bank comprises about 1.7% of PCJ Investment Counsel Ltd.’s portfolio, making the stock its 15th largest holding. PCJ Investment Counsel Ltd.’s holdings in Toronto-Dominion Bank were worth $5,472,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of TD. Triad Wealth Partners LLC purchased a new stake in Toronto-Dominion Bank during the 2nd quarter worth approximately $31,000. Blue Trust Inc. increased its stake in Toronto-Dominion Bank by 50.7% during the 2nd quarter. Blue Trust Inc. now owns 630 shares of the bank’s stock worth $38,000 after buying an additional 212 shares in the last quarter. Kimelman & Baird LLC purchased a new stake in Toronto-Dominion Bank during the 2nd quarter worth approximately $49,000. BOKF NA increased its stake in Toronto-Dominion Bank by 203.6% during the 1st quarter. BOKF NA now owns 1,014 shares of the bank’s stock worth $61,000 after buying an additional 680 shares in the last quarter. Finally, Eastern Bank purchased a new stake in Toronto-Dominion Bank during the 3rd quarter worth approximately $66,000. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Trading Down 0.8 %

TD opened at $55.84 on Wednesday. The Toronto-Dominion Bank has a one year low of $53.52 and a one year high of $65.12. The stock has a market capitalization of $97.73 billion, a PE ratio of 17.84, a P/E/G ratio of 1.59 and a beta of 0.82. The business’s 50 day moving average price is $59.25 and its 200 day moving average price is $57.73. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings data on Thursday, August 22nd. The bank reported $2.05 EPS for the quarter, beating 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 firm had revenue of $14.18 billion for the quarter, compared to analysts’ expectations of $9.40 billion. During the same period in the prior year, the firm posted $1.48 earnings per share. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, equities research analysts expect that The Toronto-Dominion Bank will post 5.8 EPS for the current 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 given a dividend of $0.739 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 5.29%. The ex-dividend date of this dividend was Thursday, October 10th. Toronto-Dominion Bank’s dividend payout ratio is currently 96.17%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on TD shares. StockNews.com lowered Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Thursday, August 22nd. Royal Bank of Canada lowered Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research report on Friday, October 11th. Finally, National Bank Financial upgraded Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research report on Thursday, August 22nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Toronto-Dominion Bank presently has a consensus rating of “Hold” and a consensus target price of $84.00.

About Toronto-Dominion Bank

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.