Allianz Asset Management GmbH Trims Stock Holdings in Toronto Dominion Bank (The) $TD

Key Points

• Allianz Asset Management GmbH reduced its stake in Toronto Dominion Bank by 18.9% during the second quarter, resulting in ownership of 90,759 shares worth approximately $6.66 million.
• Several large investors, including Larson Financial Group and Richardson Financial Services, have increased their holdings in Toronto Dominion Bank, demonstrating a heightened interest in the bank.
• The bank recently announced a quarterly dividend of $1.05, an increase from the previous amount, with an annualized yield of 5.2%.

Allianz Asset Management GmbH decreased its holdings in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 18.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 90,759 shares of the bank's stock after selling 21,135 shares during the period. Allianz Asset Management GmbH's holdings in Toronto Dominion Bank were worth $6,662,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Larson Financial Group LLC boosted its position in shares of Toronto Dominion Bank by 122.9% in the first quarter. Larson Financial Group LLC now owns 428 shares of the bank's stock valued at $26,000 after acquiring an additional 236 shares during the period. Richardson Financial Services Inc. bought a new position in shares of Toronto Dominion Bank in the second quarter valued at approximately $34,000. Brentview Investment Management LLC bought a new position in shares of Toronto Dominion Bank in the first quarter valued at approximately $40,000. Colonial Trust Advisors bought a new position in shares of Toronto Dominion Bank in the first quarter valued at approximately $44,000. Finally, Pandora Wealth Inc. bought a new position in shares of Toronto Dominion Bank in the first quarter valued at approximately $60,000. 52.37% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on TD shares. Zacks Research lowered shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Royal Bank Of Canada upgraded shares of Toronto Dominion Bank from a "sector perform" rating to an "outperform" rating in a research report on Friday, October 3rd. Desjardins upgraded shares of Toronto Dominion Bank from a "hold" rating to a "buy" rating in a research report on Wednesday, August 13th. Weiss Ratings reiterated a "buy (b)" rating on shares of Toronto Dominion Bank in a research report on Wednesday, October 8th. Finally, Wall Street Zen lowered shares of Toronto Dominion Bank from a "hold" rating to a "sell" rating in a research report on Friday, September 26th. Five equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $93.00.

Toronto Dominion Bank Trading Up 0.6%

Shares of Toronto Dominion Bank stock opened at $80.87 on Thursday. The firm has a market cap of $137.54 billion, a PE ratio of 9.45, a PEG ratio of 1.65 and a beta of 0.80. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.02 and a quick ratio of 1.02. Toronto Dominion Bank has a 1 year low of $51.25 and a 1 year high of $82.08. The company has a 50 day simple moving average of $77.37 and a two-hundred day simple moving average of $71.43.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last announced its quarterly earnings data on Thursday, August 28th. The bank reported $1.91 earnings per share for the quarter, topping analysts' consensus estimates of $1.46 by $0.45. The firm had revenue of $10.12 billion during the quarter, compared to analyst estimates of $13.73 billion. Toronto Dominion Bank had a net margin of 16.40% and a return on equity of 13.59%. The business's quarterly revenue was up 7.9% on a year-over-year basis. During the same period in the previous year, the business posted $2.05 EPS. Analysts expect that Toronto Dominion Bank will post 5.48 earnings per share for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 10th will be issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date is Friday, October 10th. This is a positive change from Toronto Dominion Bank's previous quarterly dividend of $0.76. Toronto Dominion Bank's dividend payout ratio (DPR) is presently 35.75%.

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.

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