Toronto Dominion Bank (The) (NYSE:TD) Stock Position Boosted by PCJ Investment Counsel Ltd.

Key Points

• PCJ Investment Counsel Ltd. increased its stake in Toronto Dominion Bank by 79.5% in Q1, owning a total of 99,420 shares worth approximately $5.96 million.
• Toronto Dominion Bank reported an EPS of $1.39 for the last quarter, exceeding analyst expectations of $1.25, with total revenue of $10.97 billion.
• The bank has raised its quarterly dividend to $0.7568 per share, yielding 4.2%, with a payout ratio of 45.31%.

PCJ Investment Counsel Ltd. increased its stake in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 79.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 99,420 shares of the bank's stock after buying an additional 44,030 shares during the period. Toronto Dominion Bank comprises about 2.3% of PCJ Investment Counsel Ltd.'s investment portfolio, making the stock its 12th largest position. PCJ Investment Counsel Ltd.'s holdings in Toronto Dominion Bank were worth $5,958,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MFA Wealth Services boosted its holdings in Toronto Dominion Bank by 4.5% in the first quarter. MFA Wealth Services now owns 4,179 shares of the bank's stock worth $250,000 after purchasing an additional 179 shares during the period. Hexagon Capital Partners LLC boosted its holdings in Toronto Dominion Bank by 14.5% in the first quarter. Hexagon Capital Partners LLC now owns 1,500 shares of the bank's stock worth $90,000 after purchasing an additional 190 shares during the period. JFS Wealth Advisors LLC boosted its holdings in Toronto Dominion Bank by 6.0% in the first quarter. JFS Wealth Advisors LLC now owns 3,421 shares of the bank's stock worth $205,000 after purchasing an additional 194 shares during the period. MassMutual Private Wealth & Trust FSB boosted its holdings in Toronto Dominion Bank by 14.3% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,619 shares of the bank's stock worth $97,000 after purchasing an additional 202 shares during the period. Finally, CoreCap Advisors LLC boosted its holdings in Toronto Dominion Bank by 57.5% in the fourth quarter. CoreCap Advisors LLC now owns 630 shares of the bank's stock worth $34,000 after purchasing an additional 230 shares during the period. Institutional investors own 52.37% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on TD shares. Scotiabank started coverage on shares of Toronto Dominion Bank in a report on Thursday, May 15th. They issued a "sector perform" rating for the company. Wall Street Zen raised shares of Toronto Dominion Bank from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. Finally, Royal Bank Of Canada lifted 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 report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Toronto Dominion Bank presently has an average rating of "Hold" and a consensus price target of $93.00.

Toronto Dominion Bank Stock Performance

Shares of TD traded up $0.36 during midday trading on Friday, hitting $73.24. 960,129 shares of the stock traded hands, compared to its average volume of 1,816,567. Toronto Dominion Bank has a 1-year low of $51.25 and a 1-year high of $75.58. The firm has a market capitalization of $125.62 billion, a PE ratio of 10.74, a price-to-earnings-growth ratio of 1.66 and a beta of 0.84. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.03 and a current ratio of 1.03. The business's 50 day moving average price is $72.70 and its two-hundred day moving average price is $64.86.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last announced its quarterly earnings results on Thursday, May 22nd. The bank reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $13.36 billion. During the same quarter in the previous year, the company posted $2.04 earnings per share. Equities research analysts predict that Toronto Dominion Bank will post 5.48 EPS for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 10th were issued a dividend of $0.7568 per share. This represents a $3.03 annualized dividend and a dividend yield of 4.1%. This is a positive change from Toronto Dominion Bank's previous quarterly dividend of $0.73. The ex-dividend date of this dividend was Thursday, July 10th. Toronto Dominion Bank's dividend payout ratio is presently 45.31%.

About Toronto Dominion Bank

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.