PCJ Investment Counsel Ltd. Has $2.95 Million Stock Position in The Toronto-Dominion Bank (NYSE:TD)

PCJ Investment Counsel Ltd. lessened its stake in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 36.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,390 shares of the bank’s stock after selling 31,160 shares during the quarter. Toronto-Dominion Bank comprises approximately 1.0% of PCJ Investment Counsel Ltd.’s investment portfolio, making the stock its 28th biggest holding. PCJ Investment Counsel Ltd.’s holdings in Toronto-Dominion Bank were worth $2,945,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Dunhill Financial LLC increased its holdings 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 valued at $25,000 after purchasing an additional 249 shares in the last quarter. Bank of Jackson Hole Trust bought a new stake in shares of Toronto-Dominion Bank during the fourth quarter worth $32,000. Versant Capital Management Inc lifted its stake in shares of 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 acquiring an additional 200 shares during the period. SBI Securities Co. Ltd. bought a new position in Toronto-Dominion Bank in the fourth quarter valued at about $51,000. Finally, Morse Asset Management Inc bought a new stake in Toronto-Dominion Bank during the 3rd quarter worth about $63,000. 52.37% of the stock is owned by institutional investors.

Toronto-Dominion Bank Stock Performance

Shares of Toronto-Dominion Bank stock opened at $59.58 on Friday. The Toronto-Dominion Bank has a 12 month low of $51.25 and a 12 month high of $64.91. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $104.40 billion, a PE ratio of 17.17, a PEG ratio of 1.95 and a beta of 0.83. The stock’s fifty day simple moving average is $57.41 and its 200 day simple moving average is $57.67.

Toronto-Dominion Bank Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th will be issued a dividend of $0.7278 per share. This represents a $2.91 annualized dividend and a dividend yield of 4.89%. The ex-dividend date of this dividend is Thursday, April 10th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is presently 85.29%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. BMO Capital Markets raised shares of Toronto-Dominion Bank from a “market perform” rating to an “outperform” rating in a research note on Thursday, December 19th. Royal Bank of Canada lowered their target price on shares of Toronto-Dominion Bank from $82.00 to $77.00 and set a “sector perform” rating for the company in a report on Friday, December 6th. Desjardins downgraded Toronto-Dominion Bank from a “buy” rating to a “hold” rating in a research note on Friday, December 6th. Bank of America upgraded Toronto-Dominion Bank from a “neutral” rating to a “buy” rating in a research report on Friday, January 17th. Finally, StockNews.com lowered Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Monday, February 24th. Two equities 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $80.50.

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.