Amundi Sells 344,734 Shares of Toronto Dominion Bank (The) $TD

Key Points

• Amundi reduced its Toronto-Dominion Bank stake by 10% in the first quarter, selling 344,734 shares and retaining 3.1 million shares valued at approximately $289.7 million. Institutional investors collectively own 52.37% of TD.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and a $156 target price, although some firms recently downgraded the stock to “Hold” or “Sell.”
• TD exceeded quarterly earnings and revenue expectations, reporting $1.74 in EPS and $11.80 billion in revenue, while increasing its quarterly dividend to $1.12 per share, equivalent to a 3.7% yield.

Amundi lessened its holdings in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 10.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,103,758 shares of the bank's stock after selling 344,734 shares during the quarter. Amundi owned about 0.19% of Toronto Dominion Bank worth $289,661,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in TD. Hillsdale Investment Management Inc. raised its position in Toronto Dominion Bank by 3.0% in the first quarter. Hillsdale Investment Management Inc. now owns 1,201,500 shares of the bank's stock valued at $112,185,000 after purchasing an additional 34,921 shares during the period. Prime Capital Investment Advisors LLC boosted its position in shares of Toronto Dominion Bank by 433.7% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 16,218 shares of the bank's stock worth $1,528,000 after buying an additional 13,179 shares during the period. Alberta Investment Management Corp purchased a new stake in shares of Toronto Dominion Bank in the fourth quarter worth about $299,850,000. State of Wyoming grew its stake in shares of Toronto Dominion Bank by 1,018.7% in the first quarter. State of Wyoming now owns 22,765 shares of the bank's stock valued at $2,119,000 after buying an additional 20,730 shares in the last quarter. Finally, JCIC Asset Management Inc. grew its stake in shares of Toronto Dominion Bank by 891.5% in the fourth quarter. JCIC Asset Management Inc. now owns 85,248 shares of the bank's stock valued at $8,035,000 after buying an additional 76,650 shares in the last quarter. Institutional investors own 52.37% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Zacks Research lowered Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 27th. Weiss Ratings lowered shares of Toronto Dominion Bank from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, July 21st. Wall Street Zen cut shares of Toronto Dominion Bank from a "hold" rating to a "sell" rating in a research report on Saturday, May 23rd. Royal Bank Of Canada upped their target price on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the company an "outperform" rating in a research note on Monday, June 1st. Finally, Raymond James Financial raised shares of Toronto Dominion Bank from a "market perform" rating to an "outperform" rating in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Toronto Dominion Bank has a consensus rating of "Moderate Buy" and a consensus target price of $156.00.

Toronto Dominion Bank Stock Performance

Shares of TD opened at $119.80 on Friday. The firm has a market cap of $197.05 billion, a price-to-earnings ratio of 18.69, a PEG ratio of 1.30 and a beta of 0.71. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.09. The business's 50 day moving average is $118.08 and its two-hundred day moving average is $105.47. Toronto Dominion Bank has a 52-week low of $72.21 and a 52-week high of $124.87.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last released its quarterly earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share for the quarter, topping analysts' consensus estimates of $1.63 by $0.11. The business had revenue of $11.80 billion during the quarter, compared to the consensus estimate of $11.04 billion. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. The business's quarterly revenue was down 31.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.97 earnings per share. Analysts forecast that Toronto Dominion Bank will post 6.86 EPS for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 10th will be issued a dividend of $1.12 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a $4.48 annualized dividend and a yield of 3.7%. This is an increase from Toronto Dominion Bank's previous quarterly dividend of $1.08. Toronto Dominion Bank's dividend payout ratio (DPR) is 49.14%.

About Toronto Dominion Bank

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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