Nicola Wealth Management LTD. Raises Holdings in The Toronto-Dominion Bank (NYSE:TD)

Nicola Wealth Management LTD. boosted its position in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 29.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 441,602 shares of the bank’s stock after purchasing an additional 99,600 shares during the quarter. Toronto-Dominion Bank makes up approximately 2.6% of Nicola Wealth Management LTD.’s investment portfolio, making the stock its 4th largest holding. Nicola Wealth Management LTD.’s holdings in Toronto-Dominion Bank were worth $27,936,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. CWM LLC boosted its holdings in Toronto-Dominion Bank by 2.4% in the third quarter. CWM LLC now owns 7,208 shares of the bank’s stock worth $456,000 after acquiring an additional 170 shares in the last quarter. First Affirmative Financial Network grew its position in Toronto-Dominion Bank by 1.9% during the 2nd quarter. First Affirmative Financial Network now owns 10,120 shares of the bank’s stock worth $556,000 after purchasing an additional 190 shares during the last quarter. Balanced Rock Investment Advisors LLC increased its stake in Toronto-Dominion Bank by 1.4% during the 2nd quarter. Balanced Rock Investment Advisors LLC now owns 14,959 shares of the bank’s stock valued at $822,000 after purchasing an additional 203 shares in the last quarter. Hexagon Capital Partners LLC raised its holdings in shares of Toronto-Dominion Bank by 18.5% in the third quarter. Hexagon Capital Partners LLC now owns 1,337 shares of the bank’s stock worth $85,000 after buying an additional 209 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its stake in shares of Toronto-Dominion Bank by 8.8% during the second quarter. Brown Brothers Harriman & Co. now owns 2,610 shares of the bank’s stock worth $143,000 after buying an additional 210 shares during the period. 52.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TD has been the subject of a number of research analyst reports. National Bank Financial upgraded Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research note on Thursday, August 22nd. Royal Bank of Canada downgraded Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a report on Friday, October 11th. Finally, StockNews.com lowered Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $84.00.

Toronto-Dominion Bank Stock Performance

Shares of TD traded up $0.42 during trading hours on Thursday, hitting $56.50. The stock had a trading volume of 215,053 shares, compared to its average volume of 2,754,946. The firm has a 50-day moving average price of $59.63 and a 200 day moving average price of $57.78. The Toronto-Dominion Bank has a fifty-two week low of $53.52 and a fifty-two week high of $65.12. The firm has a market capitalization of $98.79 billion, a price-to-earnings ratio of 17.92, a PEG ratio of 1.60 and a beta of 0.82. 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 posted its earnings results on Thursday, August 22nd. The bank reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.49 by $0.56. The firm had revenue of $14.18 billion for the quarter, compared to analysts’ expectations of $9.40 billion. Toronto-Dominion Bank had a return on equity of 14.34% and a net margin of 6.94%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the firm earned $1.48 EPS. As a group, research analysts anticipate that The Toronto-Dominion Bank will post 5.8 EPS for the current year.

Toronto-Dominion Bank Cuts Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 5.23%. Toronto-Dominion Bank’s dividend payout ratio (DPR) is 96.49%.

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.