Murchinson Ltd. Makes New Investment in The Toronto-Dominion Bank (NYSE:TD)

Murchinson Ltd. purchased a new position in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 6,483 shares of the bank’s stock, valued at approximately $410,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. acquired a new stake in shares of Toronto-Dominion Bank in the 3rd quarter valued at $387,000. Erste Asset Management GmbH bought a new stake in Toronto-Dominion Bank during the 3rd quarter worth about $14,642,000. Wasatch Advisors LP lifted its position in Toronto-Dominion Bank by 11.7% during the 3rd quarter. Wasatch Advisors LP now owns 38,810 shares of the bank’s stock valued at $2,454,000 after purchasing an additional 4,080 shares during the period. Edgestream Partners L.P. acquired a new stake in shares of Toronto-Dominion Bank during the 3rd quarter worth approximately $230,000. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in shares of Toronto-Dominion Bank by 64.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,273,520 shares of the bank’s stock worth $143,922,000 after buying an additional 892,183 shares during the last quarter. Institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Price Performance

Shares of NYSE TD opened at $56.27 on Wednesday. The company has a fifty day moving average price of $57.87 and a 200 day moving average price of $57.71. The Toronto-Dominion Bank has a 1-year low of $53.52 and a 1-year high of $65.12. The firm has a market cap of $98.49 billion, a PE ratio of 17.98, a PEG ratio of 1.85 and a beta of 0.82. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.10.

Wall Street Analysts Forecast Growth

A number of analysts have commented on TD shares. Royal Bank of Canada lowered shares of Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a report on Friday, October 11th. National Bank Financial upgraded Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research report on Thursday, August 22nd. StockNews.com lowered shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Thursday, August 22nd. Finally, Barclays lowered shares of Toronto-Dominion Bank from an “equal weight” rating to an “underweight” rating in a report on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $84.00.

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.