Manitou Investment Management Ltd. Increases Stock Position in Toronto-Dominion Bank (NYSE:TD)

Manitou Investment Management Ltd. grew its position in Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 1.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,897 shares of the bank’s stock after purchasing an additional 1,026 shares during the period. Toronto-Dominion Bank comprises about 0.8% of Manitou Investment Management Ltd.’s portfolio, making the stock its 21st largest position. Manitou Investment Management Ltd.’s holdings in Toronto-Dominion Bank were worth $3,202,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in TD. Benjamin F. Edwards & Company Inc. boosted its position in shares of Toronto-Dominion Bank by 41.8% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 11,161 shares of the bank’s stock valued at $650,000 after acquiring an additional 3,288 shares during the period. First Trust Advisors LP boosted its stake in Toronto-Dominion Bank by 21.5% in the 3rd quarter. First Trust Advisors LP now owns 704,910 shares of the bank’s stock worth $41,068,000 after purchasing an additional 124,710 shares in the last quarter. Bartlett & Co. LLC bought a new position in Toronto-Dominion Bank in the 3rd quarter worth about $85,000. Tibra Equities Europe Ltd bought a new position in Toronto-Dominion Bank in the 3rd quarter worth about $1,494,000. Finally, Parallel Advisors LLC boosted its stake in Toronto-Dominion Bank by 19.2% in the 3rd quarter. Parallel Advisors LLC now owns 2,253 shares of the bank’s stock worth $131,000 after purchasing an additional 363 shares in the last quarter. Institutional investors own 47.59% of the company’s stock.

TD traded down $0.05 during trading on Friday, reaching $57.89. The company had a trading volume of 553,780 shares, compared to its average volume of 1,202,706. The stock has a market cap of $105.10 billion, a P/E ratio of 11.51, a PEG ratio of 1.79 and a beta of 1.06. The business has a 50 day simple moving average of $56.83 and a 200-day simple moving average of $56.62. Toronto-Dominion Bank has a 52 week low of $47.73 and a 52 week high of $59.55. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.13.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings results on Thursday, August 29th. The bank reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.45. Toronto-Dominion Bank had a return on equity of 16.08% and a net margin of 20.02%. The company had revenue of $10.50 billion during the quarter, compared to the consensus estimate of $9.80 billion. During the same period last year, the company earned $1.66 earnings per share. Toronto-Dominion Bank’s revenue was up 6.1% on a year-over-year basis. As a group, equities research analysts expect that Toronto-Dominion Bank will post 5.17 EPS for the current fiscal year.

The business also recently disclosed a — dividend, which was paid on Thursday, October 31st. Investors of record on Thursday, October 10th were given a dividend of $0.556 per share. This represents a yield of 4.1%. The ex-dividend date was Wednesday, October 9th. Toronto-Dominion Bank’s payout ratio is currently 44.53%.

A number of research analysts have recently commented on the company. BMO Capital Markets downgraded Toronto-Dominion Bank from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $85.00 to $78.00 in a research report on Friday, August 30th. Desjardins lowered their target price on Toronto-Dominion Bank from $83.00 to $81.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. Scotiabank set a $80.00 target price on Toronto-Dominion Bank and gave the company a “buy” rating in a research report on Friday, August 30th. CIBC set a $83.00 target price on Toronto-Dominion Bank and gave the company a “buy” rating in a research report on Friday, August 30th. Finally, Bank of America downgraded Toronto-Dominion Bank from a “buy” rating to a “neutral” rating and lowered their target price for the company from $82.00 to $77.00 in a research report on Thursday, August 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $78.36.

Toronto-Dominion Bank Company Profile

The Toronto-Dominion Bank, together with its subsidiaries, provides various personal and commercial banking products and services in Canada and the United States. The company operates through three segments: Canadian Retail, U.S. Retail, and Wholesale Banking. It offers personal deposits, such as checking, savings, and investment products; financing, investment, cash management, international trade, and day-to-day banking services to businesses; financing options to customers at point of sale for automotive and recreational vehicle purchases through auto dealer network; credit cards; investing, advice-based, and asset management services to retail and institutional clients; and property and casualty insurance, as well as life and health insurance products.

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Institutional Ownership by Quarter for Toronto-Dominion Bank (NYSE:TD)

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