Portland Investment Counsel Inc. Increases Stock Position in Toronto Dominion Bank (The) $TD

Key Points

• Portland Investment Counsel Inc. increased its stake in Toronto Dominion Bank by 2.3%, owning a total of 462,900 shares valued at approximately $27.7 million.
• Multiple institutional investors, including Oppenheimer & Co. Inc. and JPMorgan Chase & Co., have raised their holdings in Toronto Dominion Bank, which contributes to institutional ownership of 52.37%.
• Toronto Dominion Bank reported earnings of $1.39 per share for the latest quarter, surpassing analysts' expectations of $1.25, while revenue was $10.97 billion, below the forecast of $13.36 billion.

Portland Investment Counsel Inc. increased its position in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 2.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 462,900 shares of the bank's stock after purchasing an additional 10,500 shares during the period. Toronto Dominion Bank makes up approximately 8.4% of Portland Investment Counsel Inc.'s holdings, making the stock its 4th biggest position. Portland Investment Counsel Inc.'s holdings in Toronto Dominion Bank were worth $27,738,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Oppenheimer & Co. Inc. boosted its stake in Toronto Dominion Bank by 144.6% in the 1st quarter. Oppenheimer & Co. Inc. now owns 11,532 shares of the bank's stock worth $691,000 after purchasing an additional 6,818 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Toronto Dominion Bank by 7.0% during the 1st quarter. Bank of New York Mellon Corp now owns 1,606,446 shares of the bank's stock valued at $96,290,000 after acquiring an additional 104,864 shares during the period. JPMorgan Chase & Co. lifted its stake in Toronto Dominion Bank by 38.6% during the 1st quarter. JPMorgan Chase & Co. now owns 9,994,402 shares of the bank's stock valued at $599,064,000 after acquiring an additional 2,780,984 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Toronto Dominion Bank by 1.5% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 12,396,341 shares of the bank's stock valued at $743,037,000 after acquiring an additional 181,781 shares during the period. Finally, Williams Financial LLC bought a new position in Toronto Dominion Bank during the 1st quarter valued at about $228,000. Institutional investors own 52.37% of the company's stock.

Toronto Dominion Bank Price Performance

NYSE TD opened at $73.62 on Friday. Toronto Dominion Bank has a 12 month low of $51.25 and a 12 month high of $75.58. The stock has a market cap of $126.27 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 1.61 and a beta of 0.84. The company's 50 day moving average is $73.36 and its two-hundred day moving average is $65.84. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.09.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last released its earnings results on Thursday, May 22nd. The bank reported $1.39 EPS for the quarter, topping analysts' consensus estimates of $1.25 by $0.14. Toronto Dominion Bank had a net margin of 13.53% and a return on equity of 13.11%. The company had revenue of $10.97 billion for the quarter, compared to analysts' expectations of $13.36 billion. During the same quarter last year, the business earned $2.04 EPS. As a group, research analysts anticipate that Toronto Dominion Bank will post 5.48 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Desjardins upgraded shares of Toronto Dominion Bank from a "hold" rating to a "buy" rating in a research note on Wednesday, August 13th. Wall Street Zen upgraded shares of Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research note on Saturday, May 24th. Scotiabank started coverage on shares of Toronto Dominion Bank in a research note on Thursday, May 15th. They issued a "sector perform" rating on the stock. Royal Bank Of Canada increased their price objective on shares of Toronto Dominion Bank from $87.00 to $93.00 and gave the stock a "sector perform" rating in a research note on Friday, May 23rd. Finally, Zacks Research cut shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $93.00.

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.

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