Generali Asset Management SPA SGR Buys 9,101 Shares of Toronto Dominion Bank (The) $TD

Key Points

• Generali Asset Management increased its Toronto-Dominion Bank stake by 4.7% in the third quarter, purchasing 9,101 additional shares and bringing its total holdings to 202,880 shares valued at approximately $23.84 million.
• TD reported quarterly EPS of $1.98, exceeding the $1.74 consensus estimate, while revenue reached $12.07 billion and rose 6.9% year over year. Institutional investors and hedge funds own 52.37% of the stock.
• The bank announced a quarterly dividend of C$1.12 per share, equating to a 3.6% yield, and authorized a $7.14 billion share repurchase program covering up to 3.5% of outstanding shares. Analysts’ consensus rating is “Moderate Buy,” with an average price target of $148.

Generali Asset Management SPA SGR increased its stake in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 4.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 202,880 shares of the bank's stock after buying an additional 9,101 shares during the quarter. Generali Asset Management SPA SGR's holdings in Toronto Dominion Bank were worth $23,844,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Cornerstone Financial Management LLC increased its position in Toronto Dominion Bank by 77.2% in the 2nd quarter. Cornerstone Financial Management LLC now owns 218 shares of the bank's stock valued at $26,000 after acquiring an additional 95 shares during the period. Chicago Partners Investment Group LLC raised its stake in shares of Toronto Dominion Bank by 1.8% during the first quarter. Chicago Partners Investment Group LLC now owns 5,735 shares of the bank's stock valued at $535,000 after purchasing an additional 102 shares in the last quarter. Aspiriant LLC raised its stake in shares of Toronto Dominion Bank by 2.4% during the third quarter. Aspiriant LLC now owns 4,343 shares of the bank's stock valued at $510,000 after purchasing an additional 103 shares in the last quarter. Checchi Capital Advisers LLC raised its stake in shares of Toronto Dominion Bank by 1.5% during the first quarter. Checchi Capital Advisers LLC now owns 7,194 shares of the bank's stock valued at $671,000 after purchasing an additional 104 shares in the last quarter. Finally, Simplicity Wealth LLC lifted its holdings in Toronto Dominion Bank by 2.7% in the third quarter. Simplicity Wealth LLC now owns 4,236 shares of the bank's stock worth $498,000 after purchasing an additional 112 shares during the period. 52.37% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on TD shares. Weiss Ratings upgraded Toronto Dominion Bank from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Wednesday, October 21st. Wall Street Zen raised Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research note on Saturday, August 22nd. Finally, Keefe, Bruyette & Woods initiated coverage on Toronto Dominion Bank in a report on Friday, August 21st. They issued a "market perform" rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Toronto Dominion Bank has a consensus rating of "Moderate Buy" and an average price target of $148.00.

Toronto Dominion Bank Price Performance

NYSE TD opened at $125.74 on Wednesday. The firm has a market capitalization of $206.01 billion, a price-to-earnings ratio of 18.68 and a beta of 0.75. The company has a 50 day simple moving average of $120.07 and a 200-day simple moving average of $109.98. Toronto Dominion Bank has a 52-week low of $79.52 and a 52-week high of $126.05.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last announced its quarterly earnings data on Thursday, August 27th. The bank reported $1.98 EPS for the quarter, beating analysts' consensus estimates of $1.74 by $0.24. The company had revenue of $12.07 billion for the quarter, compared to analysts' expectations of $10.70 billion. The business's revenue for the quarter was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.20 earnings per share. On average, analysts predict that Toronto Dominion Bank will post 7.04 EPS for the current year.

Toronto Dominion Bank Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Saturday, October 31st. Shareholders of record on Friday, October 9th will be issued a dividend of C$1.12 per share. This represents a $4.48 annualized dividend and a yield of 3.6%. The ex-dividend date is Friday, October 9th. Toronto Dominion Bank's dividend payout ratio (DPR) is 46.66%.

Toronto Dominion Bank announced that its board has initiated a stock repurchase program on Wednesday, September 30th that authorizes the company to repurchase $7.14 billion in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 3.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its shares are undervalued.

Toronto Dominion Bank Company Profile

Toronto-Dominion Bank, operating as TD Bank Group, is a Canadian financial services company headquartered in Toronto, Ontario. The institution traces its history to the Bank of Toronto, founded in 1855, and the Dominion Bank, founded in 1869; the two banks merged in 1955 to form Toronto-Dominion Bank.

TD provides a broad range of banking and financial services through its Canadian and U.S. operations. Its offerings include personal and business deposit accounts, mortgages, consumer and commercial lending, credit cards, investment products, insurance, wealth management and financial advice.

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