Independence Financial Advisors LLC Invests $243,000 in Toronto Dominion Bank (The) (NYSE:TD)

Key Points

• Independence Financial Advisors LLC has invested $243,000 in Toronto Dominion Bank by acquiring 4,046 shares of the bank's stock.
• The bank recently declared a quarterly dividend of $0.7568, increasing from the previous $0.73, which contributes to an annualized dividend yield of 4.12%.
• Toronto Dominion Bank has a market capitalization of $126.47 billion and reported earnings of $1.39 per share, exceeding analyst forecasts of $1.25.

Independence Financial Advisors LLC bought a new position in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 4,046 shares of the bank's stock, valued at approximately $243,000.

A number of other institutional investors also recently modified their holdings of the company. Larson Financial Group LLC increased its position in shares of Toronto Dominion Bank by 122.9% during the 1st quarter. Larson Financial Group LLC now owns 428 shares of the bank's stock valued at $26,000 after purchasing an additional 236 shares during the last quarter. Financial Management Professionals Inc. increased its position in shares of Toronto Dominion Bank by 322.4% during the 1st quarter. Financial Management Professionals Inc. now owns 490 shares of the bank's stock valued at $29,000 after purchasing an additional 374 shares during the last quarter. Moisand Fitzgerald Tamayo LLC bought a new position in shares of Toronto Dominion Bank during the 1st quarter worth $32,000. ORG Partners LLC bought a new position in shares of Toronto Dominion Bank during the 1st quarter worth $34,000. Finally, CoreCap Advisors LLC grew its stake in shares of Toronto Dominion Bank by 57.5% during the 4th quarter. CoreCap Advisors LLC now owns 630 shares of the bank's stock worth $34,000 after acquiring an additional 230 shares during the period. 52.37% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TD has been the subject of several research reports. Wall Street Zen upgraded Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research note on Saturday, May 24th. Royal Bank Of Canada raised their price target on Toronto Dominion Bank from $87.00 to $93.00 and gave the company a "sector perform" rating in a report on Friday, May 23rd. Finally, Scotiabank initiated coverage on Toronto Dominion Bank in a report on Thursday, May 15th. They set a "sector perform" rating on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $93.00.

Toronto Dominion Bank Trading Down 0.9%

Toronto Dominion Bank stock traded down $0.67 during trading hours on Thursday, reaching $72.89. The company had a trading volume of 1,904,196 shares, compared to its average volume of 2,151,853. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.03 and a quick ratio of 1.03. The company has a 50-day moving average price of $72.00 and a 200 day moving average price of $63.99. The firm has a market cap of $125.41 billion, a price-to-earnings ratio of 10.69, a P/E/G ratio of 1.66 and a beta of 0.83. Toronto Dominion Bank has a 12-month low of $51.25 and a 12-month high of $75.58.

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

Toronto Dominion Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Thursday, July 10th will be given a $0.7568 dividend. The ex-dividend date is Thursday, July 10th. This represents a $3.03 dividend on an annualized basis and a dividend yield of 4.2%. This is an increase from Toronto Dominion Bank's previous quarterly dividend of $0.73. Toronto Dominion Bank's dividend payout ratio is 45.31%.

About Toronto Dominion Bank

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.