Toronto-Dominion Bank (TD) is PCJ Investment Counsel Ltd.’s 2nd Largest Position

PCJ Investment Counsel Ltd. decreased its position in Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 30.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,723,943 shares of the bank’s stock after selling 767,843 shares during the quarter. Toronto-Dominion Bank accounts for about 8.6% of PCJ Investment Counsel Ltd.’s holdings, making the stock its 2nd biggest holding. PCJ Investment Counsel Ltd.’s holdings in Toronto-Dominion Bank were worth $104,682,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the stock. Capital Fund Management S.A. increased its holdings in shares of Toronto-Dominion Bank by 231.0% in the 3rd quarter. Capital Fund Management S.A. now owns 112,802 shares of the bank’s stock valued at $6,858,000 after acquiring an additional 78,724 shares during the period. First Republic Investment Management Inc. grew its position in Toronto-Dominion Bank by 37.1% in the 3rd quarter. First Republic Investment Management Inc. now owns 60,510 shares of the bank’s stock valued at $3,679,000 after buying an additional 16,368 shares during the last quarter. Wedbush Securities Inc. purchased a new position in Toronto-Dominion Bank in the 3rd quarter valued at $572,000. Renaissance Technologies LLC grew its position in Toronto-Dominion Bank by 48.5% in the 3rd quarter. Renaissance Technologies LLC now owns 4,331,758 shares of the bank’s stock valued at $263,332,000 after buying an additional 1,415,378 shares during the last quarter. Finally, Riverhead Capital Management LLC grew its position in Toronto-Dominion Bank by 117.2% in the 3rd quarter. Riverhead Capital Management LLC now owns 19,822 shares of the bank’s stock valued at $1,193,000 after buying an additional 10,695 shares during the last quarter. 47.92% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms recently weighed in on TD. Royal Bank of Canada reiterated a “hold” rating on shares of Toronto-Dominion Bank in a research report on Monday. TheStreet lowered shares of Toronto-Dominion Bank from a “b-” rating to a “c” rating in a research report on Thursday, November 29th. Canaccord Genuity reiterated a “buy” rating on shares of Toronto-Dominion Bank in a research report on Friday, November 30th. Barclays reiterated a “hold” rating on shares of Toronto-Dominion Bank in a research report on Thursday, November 29th. Finally, Zacks Investment Research upgraded shares of Toronto-Dominion Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, November 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $76.50.

NYSE:TD traded down $1.62 during midday trading on Thursday, reaching $52.57. The stock had a trading volume of 65,909 shares, compared to its average volume of 1,215,162. Toronto-Dominion Bank has a 12-month low of $52.83 and a 12-month high of $62.00. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market cap of $99.38 billion, a price-to-earnings ratio of 10.45, a price-to-earnings-growth ratio of 1.35 and a beta of 1.02.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings data on Thursday, November 29th. The bank reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.40. Toronto-Dominion Bank had a net margin of 21.27% and a return on equity of 16.78%. The firm had revenue of $10.12 billion for the quarter, compared to analyst estimates of $9.31 billion. During the same period last year, the firm posted $1.36 EPS. Toronto-Dominion Bank’s quarterly revenue was up 9.2% on a year-over-year basis. As a group, analysts expect that Toronto-Dominion Bank will post 5.25 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 31st. Shareholders of record on Thursday, January 10th will be given a dividend of $0.509 per share. The ex-dividend date of this dividend is Wednesday, January 9th. This represents a $2.04 annualized dividend and a dividend yield of 3.87%. Toronto-Dominion Bank’s payout ratio is currently 41.35%.

COPYRIGHT VIOLATION WARNING: “Toronto-Dominion Bank (TD) is PCJ Investment Counsel Ltd.’s 2nd Largest Position” was published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this story on another domain, it was copied illegally and republished in violation of United States and international copyright laws. The legal version of this story can be viewed at https://www.dispatchtribunal.com/2018/12/06/toronto-dominion-bank-td-is-pcj-investment-counsel-ltd-s-2nd-largest-position.html.

About Toronto-Dominion Bank

The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. It operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The company offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to small, medium, and large businesses; financing options to customers at point of sale for automotive and recreational vehicle purchases through auto dealer network; credit cards; investing, advice-based, and asset management services to retail and institutional clients; and property and casualty insurance, as well as life and health insurance products.

Featured Article: Are analyst ratings accurate?

Want to see what other hedge funds are holding TD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Toronto-Dominion Bank (NYSE:TD) (TSE:TD).

Institutional Ownership by Quarter for Toronto-Dominion Bank (NYSE:TD)

Receive News & Ratings for Toronto-Dominion Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Toronto-Dominion Bank and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply