MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Sells 7,524 Shares of The Toronto-Dominion Bank (NYSE:TD)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH cut its holdings in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 22.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,535 shares of the bank’s stock after selling 7,524 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Toronto-Dominion Bank were worth $1,543,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Toronto-Dominion Bank by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 72,384,265 shares of the bank’s stock valued at $4,361,876,000 after buying an additional 1,303,730 shares during the period. TD Asset Management Inc grew its stake in shares of Toronto-Dominion Bank by 28.9% in the 4th quarter. TD Asset Management Inc now owns 46,469,553 shares of the bank’s stock valued at $3,017,384,000 after buying an additional 10,415,591 shares during the period. Canoe Financial LP grew its stake in shares of Toronto-Dominion Bank by 2,035.4% in the 4th quarter. Canoe Financial LP now owns 42,808,439 shares of the bank’s stock valued at $2,766,281,000 after buying an additional 40,803,711 shares during the period. Bank of Nova Scotia grew its stake in shares of Toronto-Dominion Bank by 0.3% in the 4th quarter. Bank of Nova Scotia now owns 33,335,463 shares of the bank’s stock valued at $2,154,141,000 after buying an additional 105,772 shares during the period. Finally, 1832 Asset Management L.P. grew its stake in shares of Toronto-Dominion Bank by 0.6% in the 4th quarter. 1832 Asset Management L.P. now owns 24,569,253 shares of the bank’s stock valued at $1,587,665,000 after buying an additional 149,407 shares during the period. 52.37% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TD. Cibc World Mkts upgraded Toronto-Dominion Bank from a “hold” rating to a “strong-buy” rating in a research note on Friday, May 24th. Barclays assumed coverage on Toronto-Dominion Bank in a research note on Wednesday, March 20th. They set an “equal weight” rating for the company. StockNews.com downgraded Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Thursday, June 27th. Scotiabank upgraded Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research note on Wednesday, April 17th. Finally, National Bank Financial downgraded Toronto-Dominion Bank from a “sector perform” rating to an “underperform” rating in a research note on Thursday, May 23rd. Two analysts have rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $88.00.

Toronto-Dominion Bank Stock Performance

TD stock opened at $55.29 on Wednesday. The firm has a market cap of $96.61 billion, a PE ratio of 12.57, a P/E/G ratio of 1.51 and a beta of 0.82. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.11. The business has a 50 day moving average of $56.01 and a 200-day moving average of $58.89. The Toronto-Dominion Bank has a 12-month low of $53.52 and a 12-month high of $66.15.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last released its earnings results on Thursday, May 23rd. The bank reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.15. The company had revenue of $10.18 billion during the quarter, compared to analyst estimates of $9.90 billion. Toronto-Dominion Bank had a return on equity of 14.38% and a net margin of 9.96%. As a group, sell-side analysts expect that The Toronto-Dominion Bank will post 5.86 earnings per share for the current year.

Toronto-Dominion Bank Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Wednesday, July 10th will be issued a $0.74 dividend. This represents a $2.96 annualized dividend and a dividend yield of 5.35%. The ex-dividend date is Wednesday, July 10th. Toronto-Dominion Bank’s dividend payout ratio is presently 68.64%.

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.