Manitou Investment Management Ltd. Raises Holdings in Toronto-Dominion Bank (NYSE:TD)

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Manitou Investment Management Ltd. increased its position in shares of Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 1.9% in the 3rd quarter, Holdings Channel reports. The firm owned 54,897 shares of the bank’s stock after purchasing an additional 1,026 shares during the period. Toronto-Dominion Bank accounts for approximately 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 quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Neville Rodie & Shaw Inc. boosted its position in shares of Toronto-Dominion Bank by 1.8% during the 2nd quarter. Neville Rodie & Shaw Inc. now owns 22,988 shares of the bank’s stock valued at $1,342,000 after acquiring an additional 400 shares during the last quarter. Bath Savings Trust Co purchased a new stake in Toronto-Dominion Bank in the second quarter worth $216,000. Cox Capital Mgt LLC increased its stake in Toronto-Dominion Bank by 3.9% in the second quarter. Cox Capital Mgt LLC now owns 14,304 shares of the bank’s stock worth $835,000 after purchasing an additional 537 shares during the period. Calton & Associates Inc. increased its stake in Toronto-Dominion Bank by 5.4% in the second quarter. Calton & Associates Inc. now owns 5,029 shares of the bank’s stock worth $293,000 after purchasing an additional 257 shares during the period. Finally, Surevest Inc. increased its stake in Toronto-Dominion Bank by 3.1% in the second quarter. Surevest Inc. now owns 13,157 shares of the bank’s stock worth $768,000 after purchasing an additional 396 shares during the period. Hedge funds and other institutional investors own 47.59% of the company’s stock.

TD has been the topic of a number of recent analyst reports. CSFB lowered Toronto-Dominion Bank from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $76.00 to $74.00 in a research note on Monday, October 28th. BMO Capital Markets lowered Toronto-Dominion Bank from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $85.00 to $78.00 in a research note on Friday, August 30th. Bank of America lowered Toronto-Dominion Bank from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $82.00 to $77.00 in a research note on Thursday, August 15th. Canaccord Genuity set a $81.00 target price on Toronto-Dominion Bank and gave the stock a “buy” rating in a research note on Friday, August 30th. Finally, Desjardins reduced their target price on Toronto-Dominion Bank from $83.00 to $81.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $78.36.

Shares of Toronto-Dominion Bank stock traded down $0.05 during trading on Friday, hitting $57.89. 553,780 shares of the stock traded hands, compared to its average volume of 1,202,706. The firm has a market cap of $105.10 billion, a P/E ratio of 11.51, a price-to-earnings-growth ratio of 1.79 and a beta of 1.06. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.13. Toronto-Dominion Bank has a 52-week low of $47.73 and a 52-week high of $59.55. The stock’s fifty day simple moving average is $56.83 and its 200 day simple moving average is $56.62.

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

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

Toronto-Dominion Bank 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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Want to see what other hedge funds are holding TD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Toronto-Dominion Bank (NYSE:TD) (TSE:TD).

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

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