Forsta AP Fonden Sells 18,200 Shares of Toronto Dominion Bank (The) (NYSE:TD)

Key Points

• Forsta AP Fonden has reduced its holdings in Toronto Dominion Bank by 4.4%, now owning 398,700 shares valued at approximately $23.89 million after selling 18,200 shares in the first quarter.
• Several large investors have increased their positions in Toronto Dominion Bank, with Larson Financial Group LLC and Financial Management Professionals Inc. seeing growth rates of 122.9% and 322.4%, respectively.
• Toronto Dominion Bank has raised its quarterly dividend from $0.73 to $0.7568, representing an annualized dividend of $3.03 and a yield of 4.2%.

Forsta AP Fonden cut its position in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 4.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 398,700 shares of the bank's stock after selling 18,200 shares during the quarter. Forsta AP Fonden's holdings in Toronto Dominion Bank were worth $23,887,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Larson Financial Group LLC boosted its position in shares of Toronto Dominion Bank by 122.9% during the first quarter. Larson Financial Group LLC now owns 428 shares of the bank's stock valued at $26,000 after purchasing an additional 236 shares in the last quarter. Financial Management Professionals Inc. raised its stake in Toronto Dominion Bank by 322.4% during the first quarter. Financial Management Professionals Inc. now owns 490 shares of the bank's stock valued at $29,000 after buying an additional 374 shares during the last quarter. Moisand Fitzgerald Tamayo LLC purchased a new position in Toronto Dominion Bank during the first quarter valued at $32,000. CoreCap Advisors LLC raised its stake in Toronto Dominion Bank by 57.5% during the fourth quarter. CoreCap Advisors LLC now owns 630 shares of the bank's stock valued at $34,000 after buying an additional 230 shares during the last quarter. Finally, ORG Partners LLC purchased a new position in Toronto Dominion Bank during the first quarter valued at $34,000. 52.37% of the stock is currently owned by institutional investors.

Toronto Dominion Bank Stock Up 0.5%

Shares of TD stock traded up $0.36 during mid-day trading on Friday, hitting $73.24. The company's stock had a trading volume of 960,129 shares, compared to its average volume of 1,816,567. Toronto Dominion Bank has a 52-week low of $51.25 and a 52-week high of $75.58. The business has a 50-day moving average price of $72.70 and a 200 day moving average price of $64.86. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a market cap of $125.62 billion, a price-to-earnings ratio of 10.74, a PEG ratio of 1.66 and a beta of 0.84.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last posted its quarterly earnings results on Thursday, May 22nd. The bank reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.14. Toronto Dominion Bank had a return on equity of 13.11% and a net margin of 13.53%. The firm had revenue of $10.97 billion during the quarter, compared to analysts' expectations of $13.36 billion. During the same quarter in the previous year, the business earned $2.04 earnings per share. Research analysts predict that Toronto Dominion Bank will post 5.48 EPS for the current fiscal year.

Toronto Dominion Bank Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 10th were issued a $0.7568 dividend. The ex-dividend date of this dividend was Thursday, July 10th. This is an increase from Toronto Dominion Bank's previous quarterly dividend of $0.73. This represents a $3.03 annualized dividend and a dividend yield of 4.1%. Toronto Dominion Bank's dividend payout ratio is presently 45.31%.

Analysts Set New Price Targets

TD has been the subject of a number of recent research reports. Scotiabank initiated coverage on Toronto Dominion Bank in a research note on Thursday, May 15th. They set a "sector perform" rating for the company. Wall Street Zen upgraded Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research note on Saturday, May 24th. Finally, Royal Bank Of Canada lifted their price objective 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. One analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Toronto Dominion Bank currently has a consensus rating of "Hold" and an average price target of $93.00.

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.