MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Purchases 77,012 Shares of Toronto Dominion Bank (The) $TD

Key Points

• MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its stake in Toronto Dominion Bank by 234.6%, acquiring an additional 77,012 shares in the second quarter, bringing its total holdings to 109,835 shares valued at $8,062,000.
• Toronto Dominion Bank has seen its quarterly earnings exceed analyst expectations with $1.91 earnings per share, despite a revenue of $10.12 billion, which was below forecasts.
• The bank announced an increase in its quarterly dividend from $0.76 to $1.05 per share, with the upcoming payment scheduled for October 31st, reflecting a yield of 5.4%.

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its position in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 234.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 109,835 shares of the bank's stock after purchasing an additional 77,012 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH's holdings in Toronto Dominion Bank were worth $8,062,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Beacon Investment Advisory Services Inc. purchased a new stake in Toronto Dominion Bank in the second quarter worth $218,000. Wealth Effects LLC purchased a new stake in Toronto Dominion Bank in the second quarter worth $239,000. Public Employees Retirement System of Ohio lifted its stake in Toronto Dominion Bank by 132.2% in the second quarter. Public Employees Retirement System of Ohio now owns 362,353 shares of the bank's stock worth $26,604,000 after acquiring an additional 206,296 shares during the period. Ballentine Partners LLC lifted its stake in Toronto Dominion Bank by 2.1% in the second quarter. Ballentine Partners LLC now owns 11,559 shares of the bank's stock worth $849,000 after acquiring an additional 237 shares during the period. Finally, Cardinal Capital Management lifted its stake in Toronto Dominion Bank by 1.5% in the second quarter. Cardinal Capital Management now owns 45,871 shares of the bank's stock worth $3,369,000 after acquiring an additional 659 shares during the period. Hedge funds and other institutional investors own 52.37% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Zacks Research lowered Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 13th. Desjardins raised Toronto Dominion Bank from a "hold" rating to a "buy" rating in a research report on Wednesday, August 13th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $93.00.

Toronto Dominion Bank Price Performance

Shares of NYSE:TD opened at $78.12 on Thursday. Toronto Dominion Bank has a 1-year low of $51.25 and a 1-year high of $79.49. The business has a fifty day moving average price of $74.92 and a 200-day moving average price of $68.61. The company has a market capitalization of $132.86 billion, a PE ratio of 9.13, a PEG ratio of 1.69 and a beta of 0.81. 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 (NYSE:TD - Get Free Report) TSE: TD last posted its quarterly earnings data on Thursday, August 28th. The bank reported $1.91 earnings per share for the quarter, beating analysts' consensus estimates of $1.46 by $0.45. Toronto Dominion Bank had a return on equity of 13.59% and a net margin of 16.40%.The firm had revenue of $10.12 billion for the quarter, compared to analysts' expectations of $13.73 billion. During the same period in the previous year, the firm earned $2.05 EPS. The business's quarterly revenue was up 7.9% on a year-over-year basis. As a group, equities analysts expect that Toronto Dominion Bank will post 5.48 EPS for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 10th will be paid a dividend of $1.05 per share. This is a boost from Toronto Dominion Bank's previous quarterly dividend of $0.76. The ex-dividend date of this dividend is Friday, October 10th. This represents a $4.20 annualized dividend and a yield of 5.4%. Toronto Dominion Bank's dividend payout ratio is 36.10%.

Toronto Dominion Bank Profile

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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