PCJ Investment Counsel Ltd. Boosts Holdings in The Toronto-Dominion Bank (NYSE:TD)

PCJ Investment Counsel Ltd. increased its position in The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD by 26.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,550 shares of the bank's stock after purchasing an additional 18,010 shares during the period. Toronto-Dominion Bank makes up 1.7% of PCJ Investment Counsel Ltd.'s investment portfolio, making the stock its 15th largest holding. PCJ Investment Counsel Ltd.'s holdings in Toronto-Dominion Bank were worth $5,472,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Galibier Capital Management Ltd. lifted its stake in shares of Toronto-Dominion Bank by 24.6% in the 3rd quarter. Galibier Capital Management Ltd. now owns 608,613 shares of the bank's stock valued at $38,527,000 after purchasing an additional 119,978 shares during the last quarter. Forsta AP Fonden lifted its holdings in Toronto-Dominion Bank by 3.2% in the third quarter. Forsta AP Fonden now owns 466,500 shares of the bank's stock valued at $29,531,000 after acquiring an additional 14,500 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. raised its stake in shares of Toronto-Dominion Bank by 4.5% in the third quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,452,493 shares of the bank's stock valued at $91,948,000 after acquiring an additional 62,569 shares in the last quarter. Williams Financial LLC acquired a new stake in shares of Toronto-Dominion Bank during the second quarter worth about $10,454,000. Finally, Creative Planning boosted its holdings in Toronto-Dominion Bank by 9.8% in the 3rd quarter. Creative Planning now owns 144,251 shares of the bank's stock valued at $9,125,000 after purchasing an additional 12,879 shares in the last quarter. 52.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on TD. Royal Bank of Canada cut shares of Toronto-Dominion Bank from an "outperform" rating to a "sector perform" rating in a research report on Friday, October 11th. National Bank Financial raised shares of Toronto-Dominion Bank from an "underperform" rating to a "sector perform" rating in a research note on Thursday, August 22nd. Finally, StockNews.com lowered shares of Toronto-Dominion Bank from a "hold" rating to a "sell" rating in a report on Thursday, August 22nd. One analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $84.00.

Toronto-Dominion Bank Price Performance

Shares of Toronto-Dominion Bank stock traded down $0.12 during trading on Wednesday, reaching $55.71. The company's stock had a trading volume of 498,163 shares, compared to its average volume of 2,738,144. The business has a 50 day moving average price of $59.25 and a 200-day moving average price of $57.73. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $97.51 billion, a P/E ratio of 17.84, a price-to-earnings-growth ratio of 1.59 and a beta of 0.82. The Toronto-Dominion Bank has a 12-month low of $53.52 and a 12-month high of $65.12.

Toronto-Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last issued its quarterly 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 during the quarter, compared to the consensus estimate of $9.40 billion. Toronto-Dominion Bank had a return on equity of 14.34% and a net margin of 6.94%. Toronto-Dominion Bank's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.48 earnings per share. As a group, sell-side 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 disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th were paid 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 5.31%. Toronto-Dominion Bank's dividend payout ratio is 96.17%.

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.