Pictet Asset Management Holding SA Has $88.95 Million Stake in Toronto Dominion Bank (The) $TD

Key Points

• Pictet Asset Management trimmed its stake in Toronto-Dominion Bank by 4.1%, selling 40,065 shares and leaving 942,536 shares worth about $88.95 million (0.06% ownership) as of the latest SEC filing.
• TD beat expectations last quarter with $1.76 EPS versus a $1.63 consensus and revenue of $11.01 billion (+18.1% year-over-year), and analysts currently project about 6.87 EPS for the year.
• TD declared a quarterly dividend of $1.08 (annualized $4.32) with an ex-dividend date of April 9 and a yield of ~4.1%; the stock trades at a P/E of 11.64 and has a market cap of roughly $174.5 billion.

Pictet Asset Management Holding SA trimmed its position in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 4.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 942,536 shares of the bank's stock after selling 40,065 shares during the period. Pictet Asset Management Holding SA owned 0.06% of Toronto Dominion Bank worth $88,949,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in TD. AQR Capital Management LLC acquired a new position in Toronto Dominion Bank during the first quarter worth $568,000. Focus Partners Wealth increased its holdings in Toronto Dominion Bank by 27.7% during the first quarter. Focus Partners Wealth now owns 24,970 shares of the bank's stock worth $1,497,000 after buying an additional 5,410 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in Toronto Dominion Bank during the second quarter worth $259,000. Cresset Asset Management LLC acquired a new position in Toronto Dominion Bank during the second quarter worth $211,000. Finally, NewEdge Advisors LLC increased its holdings in shares of Toronto Dominion Bank by 25.3% in the second quarter. NewEdge Advisors LLC now owns 8,039 shares of the bank's stock valued at $590,000 after purchasing an additional 1,622 shares during the last quarter. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Toronto Dominion Bank Price Performance

NYSE:TD opened at $105.34 on Wednesday. The firm's fifty day moving average price is $97.81 and its two-hundred day moving average price is $91.96. The company has a market cap of $174.46 billion, a P/E ratio of 11.64, a P/E/G ratio of 1.20 and a beta of 0.65. Toronto Dominion Bank has a one year low of $62.56 and a one year high of $106.94. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.05 and a quick ratio of 1.05.

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

Toronto Dominion Bank Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Investors 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 annualized dividend and a dividend yield of 4.1%. Toronto Dominion Bank's dividend payout ratio is 34.36%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on TD shares. Zacks Research upgraded shares of Toronto Dominion Bank from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 18th. Canadian Imperial Bank of Commerce downgraded shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 12th. Wall Street Zen upgraded shares of Toronto Dominion Bank from a "sell" rating to a "hold" rating in a report on Saturday. Finally, Weiss Ratings upgraded shares of Toronto Dominion Bank from a "buy (b)" rating to a "buy (a-)" rating in a report on Friday, March 27th. Three equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $93.00.

Toronto Dominion Bank Profile

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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