83,533 Shares in Toronto Dominion Bank (The) $TD Acquired by Munich Reinsurance Co Stock Corp in Munich

Key Points

• Munich Reinsurance Co Stock Corp in Munich bought a new stake of 83,533 shares of Toronto-Dominion Bank in Q3, valued at about $6.68 million.
• TD beat expectations with quarterly EPS of $1.76 versus $1.63 estimated and revenue of $11.01 billion, up 18.1% year-over-year.
• The bank announced a quarterly dividend of $1.08 (annualized $4.32) for a roughly 4.5% yield and holds a consensus analyst rating of "Moderate Buy" with a $93 price target.

Munich Reinsurance Co Stock Corp in Munich bought a new stake in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 83,533 shares of the bank's stock, valued at approximately $6,681,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Canada Pension Plan Investment Board grew its holdings in Toronto Dominion Bank by 18.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 12,470,618 shares of the bank's stock worth $917,832,000 after acquiring an additional 1,946,172 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Toronto Dominion Bank by 0.8% during the second quarter. The Manufacturers Life Insurance Company now owns 13,815,706 shares of the bank's stock valued at $1,010,852,000 after acquiring an additional 115,203 shares during the last quarter. Picton Mahoney Asset Management bought a new position in shares of Toronto Dominion Bank during the second quarter valued at $267,475,000. Bank of New York Mellon Corp lifted its holdings in shares of Toronto Dominion Bank by 3.2% during the second quarter. Bank of New York Mellon Corp now owns 1,658,144 shares of the bank's stock worth $121,791,000 after purchasing an additional 51,698 shares during the period. Finally, Ontario Teachers Pension Plan Board grew its stake in shares of Toronto Dominion Bank by 304.0% in the second quarter. Ontario Teachers Pension Plan Board now owns 2,446,307 shares of the bank's stock worth $180,047,000 after purchasing an additional 1,840,747 shares during the last quarter. Institutional investors own 52.37% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on TD. Raymond James Financial raised Toronto Dominion Bank to a "hold" rating in a research report on Monday, November 24th. Jefferies Financial Group cut Toronto Dominion Bank from a "buy" rating to a "hold" rating in a research note on Tuesday, November 25th. Canadian Imperial Bank of Commerce lowered Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 12th. National Bank Financial raised shares of Toronto Dominion Bank from a "sector perform" rating to an "outperform" rating in a research report on Thursday, December 18th. Finally, Zacks Research upgraded shares of Toronto Dominion Bank from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 18th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $93.00.

Toronto Dominion Bank Stock Down 1.5%

Shares of Toronto Dominion Bank stock opened at $95.64 on Friday. The stock's 50-day moving average is $95.43 and its 200 day moving average is $86.45. Toronto Dominion Bank has a one year low of $54.87 and a one year high of $99.84. The firm has a market cap of $159.84 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 1.09 and a beta of 0.66. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.05 and a quick ratio of 1.05.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last issued its earnings results on Thursday, February 26th. The bank reported $1.76 earnings per share for the quarter, topping analysts' consensus estimates of $1.63 by $0.13. The business had revenue of $11.01 billion during the quarter, compared to the consensus estimate of $10.43 billion. Toronto Dominion Bank had a return on equity of 14.29% and a net margin of 17.52%.The firm's revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.02 earnings per share. Equities research analysts anticipate that Toronto Dominion Bank will post 5.48 EPS for the current year.

Toronto Dominion Bank Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Thursday, April 9th will be given a dividend of $1.08 per share. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Thursday, April 9th. Toronto Dominion Bank's payout ratio is presently 34.81%.

Toronto Dominion Bank Company Profile

Toronto-Dominion Bank (TD) is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. Formed through the 1955 merger of the Bank of Toronto (founded 1855) and the Dominion Bank (founded 1869), TD is one of Canada's largest banks and offers a broad range of financial products and services to individual, small business, commercial and institutional clients.

TD's core businesses include Canadian and U.S. personal and commercial banking, wealth management, wholesale banking and insurance.

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