PCJ Investment Counsel Ltd. decreased its position in shares of The Toronto-Dominion Bank (NYSE:TD – Get Rating) (TSE:TD) by 8.2% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 128,794 shares of the bank's stock after selling 11,450 shares during the quarter. Toronto-Dominion Bank makes up approximately 4.2% of PCJ Investment Counsel Ltd.'s portfolio, making the stock its 3rd largest holding. PCJ Investment Counsel Ltd.'s holdings in Toronto-Dominion Bank were worth $8,445,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Fairfield Bush & CO. acquired a new stake in Toronto-Dominion Bank during the 1st quarter worth $26,000. Northwest Investment Counselors LLC acquired a new stake in shares of Toronto-Dominion Bank during the second quarter worth $31,000. Jones Financial Companies Lllp purchased a new position in Toronto-Dominion Bank in the 1st quarter valued at $38,000. First Horizon Advisors Inc. increased its stake in Toronto-Dominion Bank by 122.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 715 shares of the bank's stock valued at $47,000 after buying an additional 394 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in shares of Toronto-Dominion Bank by 27.9% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 918 shares of the bank's stock worth $60,000 after acquiring an additional 200 shares during the period. Institutional investors and hedge funds own 49.10% of the company's stock.
Get Toronto-Dominion Bank alerts:Analysts Set New Price Targets
A number of equities research analysts recently commented on TD shares. Royal Bank of Canada upgraded shares of Toronto-Dominion Bank from a "sector perform" rating to an "outperform" rating in a research report on Friday, August 26th. Credit Suisse Group upped their price target on shares of Toronto-Dominion Bank from C$94.00 to C$95.00 in a report on Friday, August 26th. Keefe, Bruyette & Woods raised shares of Toronto-Dominion Bank from a "market perform" rating to an "outperform" rating in a research note on Friday, September 2nd. CIBC lowered their price target on Toronto-Dominion Bank from C$100.00 to C$97.00 in a report on Tuesday, August 16th. Finally, Stifel Nicolaus dropped their price target on Toronto-Dominion Bank from C$97.00 to C$93.00 in a research note on Wednesday, July 13th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $101.10.
Toronto-Dominion Bank Stock Performance
Shares of TD traded up $0.28 during mid-day trading on Wednesday, reaching $64.65. 71,154 shares of the company's stock traded hands, compared to its average volume of 2,016,019. The Toronto-Dominion Bank has a 12 month low of $57.27 and a 12 month high of $86.01. The stock has a market capitalization of $117.30 billion, a P/E ratio of 10.35, a price-to-earnings-growth ratio of 1.47 and a beta of 0.89. The business's 50-day moving average price is $63.80 and its 200-day moving average price is $67.03. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.94 and a current ratio of 0.94.Toronto-Dominion Bank (NYSE:TD – Get Rating) (TSE:TD) last issued its quarterly earnings results on Thursday, August 25th. The bank reported $1.62 EPS for the quarter, beating analysts' consensus estimates of $1.56 by $0.06. Toronto-Dominion Bank had a return on equity of 16.09% and a net margin of 22.93%. The company had revenue of $8.49 billion for the quarter, compared to analyst estimates of $10.63 billion. During the same period last year, the company earned $1.60 earnings per share. Equities analysts predict that The Toronto-Dominion Bank will post 6.24 earnings per share for the current year.
Toronto-Dominion Bank Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, October 31st. Investors of record on Friday, October 7th were issued a dividend of $0.696 per share. This is a boost from Toronto-Dominion Bank's previous quarterly dividend of $0.69. The ex-dividend date was Thursday, October 6th. This represents a $2.78 annualized dividend and a yield of 4.31%. Toronto-Dominion Bank's payout ratio is presently 41.32%.
Toronto-Dominion Bank Profile
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The Toronto-Dominion Bank, together with its subsidiaries, provides various financial products and services in Canada, the United States, and internationally. It operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. The company offers personal deposits, such as chequing, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; and financing options to customers at point of sale for automotive and recreational vehicle purchases.
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