PCJ Investment Counsel Ltd. Has $8.06 Million Stake in Toronto Dominion Bank (The) $TD

PCJ Investment Counsel Ltd. reduced its position in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 10.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 100,760 shares of the bank’s stock after selling 11,270 shares during the quarter. Toronto Dominion Bank accounts for approximately 2.2% of PCJ Investment Counsel Ltd.’s investment portfolio, making the stock its 12th biggest holding. PCJ Investment Counsel Ltd.’s holdings in Toronto Dominion Bank were worth $8,055,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Toronto Dominion Bank by 3.4% during the 2nd quarter. Vanguard Group Inc. now owns 77,187,442 shares of the bank’s stock worth $5,677,291,000 after purchasing an additional 2,552,603 shares during the last quarter. TD Asset Management Inc grew its holdings in Toronto Dominion Bank by 0.7% during the third quarter. TD Asset Management Inc now owns 37,612,007 shares of the bank’s stock worth $3,008,096,000 after purchasing an additional 246,999 shares during the period. 1832 Asset Management L.P. grew its holdings in Toronto Dominion Bank by 0.5% during the second quarter. 1832 Asset Management L.P. now owns 22,548,848 shares of the bank’s stock worth $1,656,213,000 after purchasing an additional 101,678 shares during the period. Canerector Inc. increased its position in Toronto Dominion Bank by 11,028.0% during the third quarter. Canerector Inc. now owns 22,256,000 shares of the bank’s stock worth $1,779,367,000 after buying an additional 22,056,000 shares during the last quarter. Finally, Norges Bank bought a new stake in Toronto Dominion Bank in the second quarter valued at approximately $1,543,639,000. Institutional investors own 52.37% of the company’s stock.

Analysts Set New Price Targets

TD has been the subject of a number of recent analyst reports. Canadian Imperial Bank of Commerce cut Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 12th. Wall Street Zen upgraded Toronto Dominion Bank from a “sell” rating to a “hold” rating in a research note on Monday, March 2nd. Zacks Research raised shares of Toronto Dominion Bank from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 18th. National Bank Financial raised shares of Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research report on Thursday, December 18th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Toronto Dominion Bank in a research note on Wednesday, January 21st. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $93.00.

Toronto Dominion Bank Stock Performance

NYSE:TD opened at $95.84 on Wednesday. The stock has a 50 day simple moving average of $95.47 and a 200 day simple moving average of $86.85. The stock has a market cap of $160.17 billion, a P/E ratio of 10.59, a PEG ratio of 1.09 and a beta of 0.66. Toronto Dominion Bank has a 1-year low of $54.87 and a 1-year high of $99.84. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.09.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last posted its quarterly earnings data on Thursday, February 26th. The bank reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.13. Toronto Dominion Bank had a return on equity of 14.29% and a net margin of 17.52%.The firm had revenue of $11.01 billion for the quarter, compared to analysts’ expectations of $10.43 billion. During the same quarter last year, the business earned $2.02 EPS. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. Research analysts anticipate that Toronto Dominion Bank will post 5.48 earnings per share for the current year.

Toronto Dominion Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Thursday, April 9th will be paid a $1.08 dividend. The ex-dividend date is Thursday, April 9th. This represents a $4.32 annualized dividend and a yield of 4.5%. Toronto Dominion Bank’s payout ratio is 34.81%.

About Toronto Dominion Bank

Toronto-Dominion Bank (TD) is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. Formed through the 1955 merger of the Bank of Toronto (founded 1855) and the Dominion Bank (founded 1869), TD is one of Canada’s largest banks and offers a broad range of financial products and services to individual, small business, commercial and institutional clients.

TD’s core businesses include Canadian and U.S. personal and commercial banking, wealth management, wholesale banking and insurance.