Toronto Dominion Bank (The) $TD Shares Sold by Modera Wealth Management LLC

Modera Wealth Management LLC decreased its position in Toronto Dominion Bank (The) (NYSE:TD) (TSE:TD) by 8.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 98,646 shares of the bank’s stock after selling 8,977 shares during the period. Modera Wealth Management LLC’s holdings in Toronto Dominion Bank were worth $9,205,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in TD. Vanguard Group Inc. raised its position in shares of Toronto Dominion Bank by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 77,252,688 shares of the bank’s stock valued at $7,280,911,000 after buying an additional 765,107 shares during the period. Norges Bank purchased a new position in Toronto Dominion Bank in the fourth quarter worth approximately $2,125,963,000. Bank of Nova Scotia grew its position in Toronto Dominion Bank by 6.8% in the fourth quarter. Bank of Nova Scotia now owns 19,486,741 shares of the bank’s stock worth $1,836,518,000 after acquiring an additional 1,234,510 shares during the period. The Manufacturers Life Insurance Company increased its stake in Toronto Dominion Bank by 10.6% during the fourth quarter. The Manufacturers Life Insurance Company now owns 17,014,836 shares of the bank’s stock worth $1,606,978,000 after acquiring an additional 1,629,062 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Toronto Dominion Bank by 6.1% during the fourth quarter. Geode Capital Management LLC now owns 16,747,071 shares of the bank’s stock worth $1,610,733,000 after acquiring an additional 968,122 shares during the last quarter. Institutional investors and hedge funds own 52.37% of the company’s stock.

Toronto Dominion Bank Stock Performance

NYSE TD opened at $123.69 on Friday. The company has a market cap of $203.95 billion, a P/E ratio of 19.30, a P/E/G ratio of 1.38 and a beta of 0.71. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a 50-day moving average of $116.01 and a two-hundred day moving average of $103.81. Toronto Dominion Bank has a 1-year low of $72.21 and a 1-year high of $124.87.

Toronto Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings results on Thursday, May 28th. The bank reported $1.74 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $11.80 billion for the quarter, compared to analysts’ expectations of $11.04 billion. During the same quarter in the prior year, the company earned $1.97 earnings per share. The business’s quarterly revenue was down 31.1% on a year-over-year basis. As a group, analysts anticipate that Toronto Dominion Bank will post 6.86 EPS for the current year.

Toronto Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 10th will be paid a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Friday, July 10th. This is an increase from Toronto Dominion Bank’s previous quarterly dividend of $1.08. Toronto Dominion Bank’s payout ratio is currently 49.14%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Zacks Research cut Toronto Dominion Bank from a “strong-buy” rating to a “hold” rating in a report on Monday, April 27th. Scotiabank upgraded shares of Toronto Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, May 4th. Royal Bank Of Canada boosted their price target on shares of Toronto Dominion Bank from $138.00 to $156.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. Raymond James Financial upgraded shares of Toronto Dominion Bank from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 12th. Finally, Wall Street Zen cut shares of Toronto Dominion Bank from a “hold” rating to a “sell” rating in a research report on Saturday, May 23rd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $156.00.

About Toronto Dominion Bank

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.