Allianz Asset Management GmbH Decreases Holdings in Toronto Dominion Bank (The) (NYSE:TD)

Key Points

• Allianz Asset Management GmbH reduced its stake in Toronto Dominion Bank by 3.7%, now owning 111,894 shares valued at approximately $6.70 million.
• Toronto Dominion Bank's quarterly earnings showed a net margin of 13.53% and revenue of $10.97 billion, surpassing EPS expectations but falling short on revenue estimates.
• The bank announced an increase in its quarterly dividend to $0.7568, resulting in a dividend yield of 4.08%, up from the previous amount of $0.73.

Allianz Asset Management GmbH cut its holdings in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 3.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 111,894 shares of the bank's stock after selling 4,260 shares during the period. Allianz Asset Management GmbH's holdings in Toronto Dominion Bank were worth $6,704,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. FIL Ltd raised its position in shares of Toronto Dominion Bank by 17.3% in the fourth quarter. FIL Ltd now owns 38,989,749 shares of the bank's stock valued at $2,075,819,000 after buying an additional 5,756,584 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Toronto Dominion Bank by 32.2% during the 4th quarter. Geode Capital Management LLC now owns 10,526,821 shares of the bank's stock valued at $569,878,000 after acquiring an additional 2,564,648 shares during the last quarter. Mackenzie Financial Corp raised its position in shares of Toronto Dominion Bank by 5.6% during the 4th quarter. Mackenzie Financial Corp now owns 27,990,674 shares of the bank's stock valued at $1,488,233,000 after acquiring an additional 1,491,472 shares in the last quarter. Burgundy Asset Management Ltd. boosted its position in shares of Toronto Dominion Bank by 137.3% in the 4th quarter. Burgundy Asset Management Ltd. now owns 2,258,881 shares of the bank's stock valued at $120,143,000 after purchasing an additional 1,306,946 shares during the period. Finally, Toronto Dominion Bank raised its stake in shares of Toronto Dominion Bank by 9.7% in the 4th quarter. Toronto Dominion Bank now owns 10,305,222 shares of the bank's stock valued at $547,992,000 after acquiring an additional 912,401 shares in the last quarter. Hedge funds and other institutional investors own 52.37% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Scotiabank assumed coverage on Toronto Dominion Bank in a research note on Thursday, May 15th. They issued a "sector perform" rating on the stock. Royal Bank Of Canada raised their price objective on shares of Toronto Dominion Bank from $87.00 to $93.00 and gave the stock a "sector perform" rating in a report on Friday, May 23rd. Finally, Wall Street Zen raised shares of Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research report on Saturday, May 24th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, Toronto Dominion Bank presently has an average rating of "Hold" and an average target price of $93.00.

Toronto Dominion Bank Stock Down 0.5%

Shares of NYSE:TD traded down $0.36 during midday trading on Thursday, reaching $73.21. The company had a trading volume of 289,575 shares, compared to its average volume of 2,141,879. The stock has a market capitalization of $125.95 billion, a P/E ratio of 10.73, a PEG ratio of 1.66 and a beta of 0.83. The stock's fifty day moving average price is $72.00 and its 200-day moving average price is $63.99. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.03 and a quick ratio of 1.03. Toronto Dominion Bank has a one year low of $51.25 and a one year high of $75.58.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last released its quarterly earnings data on Thursday, May 22nd. The bank reported $1.39 EPS for the quarter, topping analysts' consensus estimates of $1.25 by $0.14. Toronto Dominion Bank had a return on equity of 13.11% and a net margin of 13.53%. The firm had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $13.36 billion. During the same quarter in the prior year, the company posted $2.04 earnings per share. Equities research analysts expect that Toronto Dominion Bank will post 5.48 earnings per share for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 10th will be paid a dividend of $0.7568 per share. The ex-dividend date of this dividend is Thursday, July 10th. This represents a $3.03 dividend on an annualized basis and a dividend yield of 4.14%. This is a boost from Toronto Dominion Bank's previous quarterly dividend of $0.73. Toronto Dominion Bank's dividend payout ratio is currently 45.31%.

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.