PCJ Investment Counsel Ltd. Sells 11,270 Shares of Toronto Dominion Bank (The) $TD

PCJ Investment Counsel Ltd. lowered its stake in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 10.1% during the third quarter, HoldingsChannel reports. 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 about 2.2% of PCJ Investment Counsel Ltd.’s investment portfolio, making the stock its 12th largest holding. PCJ Investment Counsel Ltd.’s holdings in Toronto Dominion Bank were worth $8,055,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. True Wealth Design LLC bought a new stake in shares of Toronto Dominion Bank during the 3rd quarter valued at $27,000. Mather Group LLC. bought a new position in shares of Toronto Dominion Bank in the third quarter worth $30,000. Elevation Point Wealth Partners LLC acquired a new position in Toronto Dominion Bank in the second quarter valued at about $32,000. Sachetta LLC bought a new stake in Toronto Dominion Bank during the third quarter worth about $33,000. Finally, Tobam grew its stake in Toronto Dominion Bank by 44.5% during the second quarter. Tobam now owns 490 shares of the bank’s stock worth $36,000 after buying an additional 151 shares in the last quarter. 52.37% of the stock is owned by institutional investors and hedge funds.

Toronto Dominion Bank Trading Up 0.5%

Shares of Toronto Dominion Bank stock opened at $95.84 on Wednesday. The firm’s 50 day moving average is $95.47 and its 200 day moving average is $86.85. The firm has a market capitalization of $160.17 billion, a PE ratio of 10.59, a price-to-earnings-growth 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 issued its earnings results on Thursday, February 26th. The bank reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.13. The firm had revenue of $11.01 billion for the quarter, compared to analyst estimates of $10.43 billion. Toronto Dominion Bank had a net margin of 17.52% and a return on equity of 14.29%. The company’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the business posted $2.02 earnings per share. Equities research analysts forecast that Toronto Dominion Bank will post 5.48 earnings per share for the current fiscal year.

Toronto Dominion Bank Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TD shares. Wall Street Zen upgraded shares of Toronto Dominion Bank from a “sell” rating to a “hold” rating in a research report on Monday, March 2nd. Jefferies Financial Group cut shares of Toronto Dominion Bank from a “buy” rating to a “hold” rating in a research note on Tuesday, November 25th. Raymond James Financial upgraded shares of Toronto Dominion Bank to a “hold” rating in a research report on Monday, November 24th. National Bank Financial upgraded Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a research note on Thursday, December 18th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Toronto Dominion Bank in a report on Wednesday, January 21st. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $93.00.

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.