Pictet Asset Management Holding SA Sells 19,455 Shares of Toronto Dominion Bank (The) $TD

Pictet Asset Management Holding SA reduced its position in shares of Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 2.1% in the 1st quarter, Holdings Channel reports. The institutional investor owned 923,081 shares of the bank’s stock after selling 19,455 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Toronto Dominion Bank were worth $85,930,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. AQR Capital Management LLC acquired a new position in Toronto Dominion Bank during the 1st quarter worth approximately $568,000. Focus Partners Wealth raised its holdings in shares of Toronto Dominion Bank by 27.7% in the first quarter. Focus Partners Wealth now owns 24,970 shares of the bank’s stock valued at $1,497,000 after purchasing an additional 5,410 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Toronto Dominion Bank in the second quarter valued at approximately $259,000. Cresset Asset Management LLC bought a new stake in shares of Toronto Dominion Bank in the second quarter worth $211,000. Finally, NewEdge Advisors LLC lifted its position 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 worth $590,000 after purchasing an additional 1,622 shares in the last quarter. 52.37% of the stock is currently owned by institutional investors.

Toronto Dominion Bank Price Performance

Shares of TD opened at $120.38 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.09. The company’s fifty day simple moving average is $111.73 and its 200 day simple moving average is $101.06. Toronto Dominion Bank has a 1-year low of $72.21 and a 1-year high of $120.98. The company has a market cap of $198.91 billion, a price-to-earnings ratio of 18.78, a PEG ratio of 1.33 and a beta of 0.72.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings results on Thursday, May 28th. The bank reported $1.74 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.11. Toronto Dominion Bank had a net margin of 13.20% and a return on equity of 14.83%. The firm had revenue of $11.80 billion during the quarter, compared to analysts’ expectations of $11.04 billion. During the same quarter last year, the company posted $1.97 earnings per share. The company’s revenue for the quarter was down 31.1% compared to the same quarter last year. On average, research analysts forecast that Toronto Dominion Bank will post 6.86 earnings per share for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 10th will be issued a dividend of $1.12 per share. This is a boost from Toronto Dominion Bank’s previous quarterly dividend of $1.08. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date is Friday, July 10th. Toronto Dominion Bank’s dividend payout ratio is presently 50.55%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TD shares. Royal Bank Of Canada raised their target price on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the company an “outperform” rating in a research report on Monday, June 1st. Wall Street Zen cut Toronto Dominion Bank from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Scotiabank upgraded Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Monday, May 4th. Weiss Ratings lowered Toronto Dominion Bank from a “buy (b+)” rating to a “buy (b)” rating in a report on Thursday, June 11th. Finally, Raymond James Financial raised Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $156.00.

Toronto Dominion Bank Company 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.