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

Munich Reinsurance Co Stock Corp in Munich increased its stake in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 1,386.9% in the second quarter, HoldingsChannel reports. The fund owned 34,570 shares of the bank’s stock after purchasing an additional 32,245 shares during the period. Munich Reinsurance Co Stock Corp in Munich’s holdings in Toronto Dominion Bank were worth $4,202,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Toronto Dominion Bank during the fourth quarter valued at approximately $2,125,963,000. Auto Owners Insurance Co grew its holdings in shares of Toronto Dominion Bank by 9,320.0% in the fourth quarter. Auto Owners Insurance Co now owns 3,965,443 shares of the bank’s stock worth $396,544,000 after purchasing an additional 3,923,347 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Toronto Dominion Bank by 41.6% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 11,899,945 shares of the bank’s stock worth $1,121,660,000 after buying an additional 3,496,645 shares during the period. Alberta Investment Management Corp bought a new stake in Toronto Dominion Bank during the 4th quarter valued at $299,850,000. Finally, Bank of New York Mellon Corp purchased a new stake in Toronto Dominion Bank during the 2nd quarter valued at $202,900,000. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TD shares. Raymond James Financial upgraded shares of Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 12th. Royal Bank Of Canada raised their target price on Toronto Dominion Bank from $138.00 to $156.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. Keefe, Bruyette & Woods started coverage on Toronto Dominion Bank in a report on Friday, August 21st. They set a “market perform” rating on the stock. Wall Street Zen raised Toronto Dominion Bank from a “sell” rating to a “hold” rating in a research report on Saturday, August 22nd. Finally, Weiss Ratings upgraded Toronto Dominion Bank from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $156.00.

Toronto Dominion Bank Trading Down 1.4%

Shares of TD opened at $121.63 on Friday. The firm’s 50-day moving average price is $120.76 and its 200-day moving average price is $110.09. The firm has a market capitalization of $200.06 billion, a price-to-earnings ratio of 18.07, a PEG ratio of 1.23 and a beta of 0.73. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.09. Toronto Dominion Bank has a 1-year low of $74.11 and a 1-year high of $125.46.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last released its quarterly earnings results on Thursday, August 27th. The bank reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.24. Toronto Dominion Bank had a net margin of 14.41% and a return on equity of 14.88%. The company had revenue of $12.07 billion during the quarter, compared to the consensus estimate of $10.70 billion. During the same period in the prior year, the firm earned $2.20 earnings per share. Toronto Dominion Bank’s revenue was up 6.9% on a year-over-year basis. Sell-side analysts anticipate that Toronto Dominion Bank will post 7.04 EPS for the current year.

Toronto Dominion Bank Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, October 31st. Stockholders of record on Friday, October 9th will be given a $1.12 dividend. The ex-dividend date of this dividend is Friday, October 9th. This represents a $4.48 annualized dividend and a dividend yield of 3.7%. Toronto Dominion Bank’s dividend payout ratio is currently 46.81%.

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.