PCJ Investment Counsel Ltd. lowered its position in shares of The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD by 36.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,390 shares of the bank's stock after selling 31,160 shares during the period. Toronto-Dominion Bank makes up about 1.0% of PCJ Investment Counsel Ltd.'s investment portfolio, making the stock its 28th largest position. PCJ Investment Counsel Ltd.'s holdings in Toronto-Dominion Bank were worth $2,945,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in TD. Dunhill Financial LLC increased its stake in shares of Toronto-Dominion Bank by 164.9% in the third quarter. Dunhill Financial LLC now owns 400 shares of the bank's stock worth $25,000 after buying an additional 249 shares during the last quarter. Bank of Jackson Hole Trust bought a new stake in Toronto-Dominion Bank during the fourth quarter valued at $32,000. Versant Capital Management Inc increased its stake in Toronto-Dominion Bank by 40.0% during the fourth quarter. Versant Capital Management Inc now owns 700 shares of the bank's stock valued at $37,000 after purchasing an additional 200 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Toronto-Dominion Bank during the fourth quarter valued at $51,000. Finally, Union Bancaire Privee UBP SA bought a new stake in Toronto-Dominion Bank during the fourth quarter valued at $58,000. Hedge funds and other institutional investors own 52.37% of the company's stock.
Wall Street Analyst Weigh In
Several research firms have weighed in on TD. StockNews.com lowered shares of Toronto-Dominion Bank from a "hold" rating to a "sell" rating in a research note on Monday, February 24th. Jefferies Financial Group lowered shares of Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a research note on Tuesday, February 18th. Desjardins lowered shares of Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a research note on Friday, December 6th. Barclays lowered shares of Toronto-Dominion Bank from an "equal weight" rating to an "underweight" rating in a research note on Thursday, November 21st. Finally, Scotiabank downgraded shares of Toronto-Dominion Bank from a "sector outperform" rating to a "sector perform" rating in a report on Friday, December 6th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Toronto-Dominion Bank has a consensus rating of "Hold" and a consensus target price of $80.50.
Check Out Our Latest Analysis on TD
Toronto-Dominion Bank Stock Up 1.2 %
Shares of TD traded up $0.70 during trading hours on Wednesday, reaching $58.37. The company's stock had a trading volume of 1,105,549 shares, compared to its average volume of 2,424,945. The firm has a market cap of $102.28 billion, a price-to-earnings ratio of 16.82, a P/E/G ratio of 1.95 and a beta of 0.83. The company has a 50 day moving average of $57.62 and a two-hundred day moving average of $57.63. The Toronto-Dominion Bank has a 1-year low of $51.25 and a 1-year high of $64.91. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.11.
Toronto-Dominion Bank Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 10th will be paid a $0.7278 dividend. The ex-dividend date is Thursday, April 10th. This represents a $2.91 annualized dividend and a dividend yield of 4.99%. Toronto-Dominion Bank's payout ratio is 85.29%.
About Toronto-Dominion Bank
(
Free Report)
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.
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