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%.
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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.
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