Munich Reinsurance Co Stock Corp in Munich Lowers Stock Position in Toronto Dominion Bank (The) $TD

Key Points

• Munich Reinsurance Co. cut its stake in Toronto Dominion Bank by 96.6% in Q4, selling 80,695 shares and retaining 2,838 shares valued at about $269,000.
• TD beat quarterly estimates, reporting $1.76 EPS vs. $1.63 expected and $11.01 billion in revenue vs. $10.43 billion, with revenue up 18.1%, a net margin of 17.52% and ROE of 14.29%.
• TD announced a quarterly dividend of $1.08 (annualized $4.32) for a 4.1% yield; analysts' consensus is a "Moderate Buy" with a $93 price target while the stock trades around $105 (market cap ≈ $174B).

Munich Reinsurance Co Stock Corp in Munich lessened its holdings in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 96.6% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,838 shares of the bank's stock after selling 80,695 shares during the period. Munich Reinsurance Co Stock Corp in Munich's holdings in Toronto Dominion Bank were worth $269,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of TD. AQR Capital Management LLC purchased a new stake in shares of Toronto Dominion Bank in the 1st quarter worth approximately $568,000. Focus Partners Wealth lifted its position in shares of Toronto Dominion Bank by 27.7% in the 1st quarter. Focus Partners Wealth now owns 24,970 shares of the bank's stock worth $1,497,000 after purchasing an additional 5,410 shares during the period. Sivia Capital Partners LLC purchased a new stake in Toronto Dominion Bank during the second quarter valued at approximately $259,000. Cresset Asset Management LLC purchased a new stake in Toronto Dominion Bank during the second quarter valued at approximately $211,000. Finally, NewEdge Advisors LLC lifted its position in Toronto Dominion Bank by 25.3% during the second quarter. NewEdge Advisors LLC now owns 8,039 shares of the bank's stock valued at $590,000 after acquiring an additional 1,622 shares during the last quarter. Hedge funds and other institutional investors own 52.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TD. Weiss Ratings raised shares of Toronto Dominion Bank from a "buy (b)" rating to a "buy (a-)" rating in a research report on Friday, March 27th. Wall Street Zen raised shares of Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research report on Saturday. Zacks Research raised shares of Toronto Dominion Bank from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, February 18th. Finally, Canadian Imperial Bank of Commerce cut shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 12th. Three research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, Toronto Dominion Bank currently has a consensus rating of "Moderate Buy" and a consensus price target of $93.00.

Toronto Dominion Bank Trading Up 0.0%

NYSE TD opened at $105.08 on Friday. The company has a fifty day simple moving average of $97.41 and a two-hundred day simple moving average of $91.51. The stock has a market cap of $174.03 billion, a P/E ratio of 11.61, a P/E/G ratio of 1.20 and a beta of 0.65. Toronto Dominion Bank has a 12-month low of $61.88 and a 12-month high of $106.94. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.09.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last released its quarterly earnings data on Thursday, February 26th. The bank reported $1.76 earnings per share for the quarter, topping analysts' consensus estimates of $1.63 by $0.13. The firm had revenue of $11.01 billion for the quarter, compared to analyst estimates of $10.43 billion. Toronto Dominion Bank had a net margin of 17.52% and a return on equity of 14.29%. The business's quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.02 earnings per share. On average, analysts forecast that Toronto Dominion Bank will post 6.87 earnings per share for the current year.

Toronto Dominion Bank Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Thursday, April 9th will be paid a $1.08 dividend. The ex-dividend date is Thursday, April 9th. This represents a $4.32 dividend on an annualized basis and a dividend yield of 4.1%. Toronto Dominion Bank's dividend payout ratio is presently 34.36%.

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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