Portland Investment Counsel Inc. Cuts Holdings in Toronto Dominion Bank (The) $TD

Portland Investment Counsel Inc. lowered its stake in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 17.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 380,100 shares of the bank’s stock after selling 82,800 shares during the quarter. Toronto Dominion Bank makes up approximately 8.2% of Portland Investment Counsel Inc.’s investment portfolio, making the stock its 4th largest position. Portland Investment Counsel Inc.’s holdings in Toronto Dominion Bank were worth $27,943,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in TD. Norges Bank acquired a new position in shares of Toronto Dominion Bank in the second quarter valued at about $1,543,639,000. Grantham Mayo Van Otterloo & Co. LLC raised its stake in Toronto Dominion Bank by 5.6% in the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 780,723 shares of the bank’s stock valued at $57,309,000 after acquiring an additional 41,691 shares during the period. Elevation Point Wealth Partners LLC bought a new stake in Toronto Dominion Bank during the 2nd quarter valued at $32,000. Te Ahumairangi Investment Management Ltd increased its holdings in Toronto Dominion Bank by 3.3% during the 2nd quarter. Te Ahumairangi Investment Management Ltd now owns 61,351 shares of the bank’s stock worth $4,503,000 after acquiring an additional 1,970 shares during the period. Finally, J.W. Cole Advisors Inc. raised its stake in Toronto Dominion Bank by 14.5% in the second quarter. J.W. Cole Advisors Inc. now owns 6,005 shares of the bank’s stock valued at $441,000 after purchasing an additional 762 shares in the last quarter. 52.37% of the stock is owned by institutional investors.

Toronto Dominion Bank Stock Up 1.3%

Toronto Dominion Bank stock opened at $83.40 on Friday. Toronto Dominion Bank has a fifty-two week low of $51.25 and a fifty-two week high of $83.57. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a 50 day moving average price of $80.75 and a 200 day moving average price of $75.28. The company has a market capitalization of $140.91 billion, a PE ratio of 9.74, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings results on Thursday, August 28th. The bank reported $1.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.45. Toronto Dominion Bank had a return on equity of 13.59% and a net margin of 16.40%.The firm had revenue of $10.12 billion for the quarter, compared to analyst estimates of $13.73 billion. During the same quarter last year, the company posted $2.05 earnings per share. The business’s revenue was up 7.9% on a year-over-year basis. Research analysts expect that Toronto Dominion Bank will post 5.48 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Jefferies Financial Group cut Toronto Dominion Bank from a “buy” rating to a “hold” rating in a research note on Tuesday. Weiss Ratings restated a “buy (b)” rating on shares of Toronto Dominion Bank in a research note on Wednesday, October 8th. Royal Bank Of Canada upgraded shares of Toronto Dominion Bank from a “sector perform” rating to an “outperform” rating in a report on Friday, October 3rd. Desjardins raised shares of Toronto Dominion Bank from a “hold” rating to a “buy” rating in a research note on Wednesday, August 13th. Finally, Zacks Research cut Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Toronto Dominion Bank currently has an average rating of “Moderate Buy” and a consensus target price 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.