UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Sells 354,127 Shares of Toronto Dominion Bank (The) $TD

Key Points

• UBS AM reduced its stake in Toronto Dominion Bank by 14.4%, selling 354,127 shares, and now holds a total of 2,103,716 shares valued at $126 million.
• Toronto Dominion Bank has announced an increase in its quarterly dividend from $0.76 to $1.05 per share, which represents an annualized dividend yield of 5.5%.
• Analysts have mixed views on Toronto Dominion Bank, with Zacks downgrading it to a "hold" while Desjardins upgraded it to a "buy", resulting in a current consensus rating of "Hold" with a target price of $93.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC reduced its stake in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 14.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,103,716 shares of the bank's stock after selling 354,127 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.12% of Toronto Dominion Bank worth $126,097,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of TD. Baird Financial Group Inc. raised its position in Toronto Dominion Bank by 35.5% during the 4th quarter. Baird Financial Group Inc. now owns 6,976 shares of the bank's stock worth $371,000 after purchasing an additional 1,826 shares during the last quarter. Ethic Inc. grew its stake in shares of Toronto Dominion Bank by 64.8% in the 4th quarter. Ethic Inc. now owns 8,438 shares of the bank's stock valued at $449,000 after buying an additional 3,319 shares during the period. Focus Partners Wealth grew its stake in shares of Toronto Dominion Bank by 235.1% in the 4th quarter. Focus Partners Wealth now owns 19,560 shares of the bank's stock valued at $1,041,000 after buying an additional 13,723 shares during the period. Nuveen Asset Management LLC grew its stake in shares of Toronto Dominion Bank by 0.4% in the 4th quarter. Nuveen Asset Management LLC now owns 2,079,505 shares of the bank's stock valued at $110,655,000 after buying an additional 8,241 shares during the period. Finally, Man Group plc grew its stake in shares of Toronto Dominion Bank by 414.7% in the 4th quarter. Man Group plc now owns 323,711 shares of the bank's stock valued at $17,234,000 after buying an additional 260,818 shares during the period. 52.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Zacks Research downgraded Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Desjardins upgraded Toronto Dominion Bank from a "hold" rating to a "buy" rating in a research note on Wednesday, August 13th. Royal Bank Of Canada lifted their price target on Toronto Dominion Bank from $87.00 to $93.00 and gave the company a "sector perform" rating in a research note on Friday, May 23rd. Finally, Wall Street Zen upgraded Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research note on Saturday, May 24th. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $93.00.

Toronto Dominion Bank Trading Down 0.0%

NYSE:TD opened at $76.79 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $131.17 billion, a PE ratio of 8.97, a price-to-earnings-growth ratio of 1.66 and a beta of 0.81. The firm's 50 day moving average is $74.21 and its 200 day moving average is $67.57. Toronto Dominion Bank has a 12 month low of $51.25 and a 12 month high of $78.95.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last posted its quarterly earnings results on Thursday, August 28th. The bank reported $1.91 EPS for the quarter, topping analysts' consensus estimates of $1.46 by $0.45. Toronto Dominion Bank had a net margin of 16.40% and a return on equity of 13.59%. The company had revenue of $10.12 billion for the quarter, compared to analysts' expectations of $13.73 billion. During the same quarter in the previous year, the firm posted $2.05 EPS. Toronto Dominion Bank's revenue was up 7.9% on a year-over-year basis. Sell-side analysts expect that Toronto Dominion Bank will post 5.48 earnings per share for the current year.

Toronto Dominion Bank Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Friday, October 10th will be given a dividend of $1.05 per share. This is an increase from Toronto Dominion Bank's previous quarterly dividend of $0.76. The ex-dividend date is Friday, October 10th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 5.5%. Toronto Dominion Bank's dividend payout ratio (DPR) is presently 36.10%.

About Toronto Dominion Bank

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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