Legacy Financial Advisors Inc. Takes $210,000 Position in Toronto Dominion Bank (The) $TD

Key Points

• Legacy Financial Advisors Inc. has invested $210,000 in Toronto Dominion Bank by purchasing 3,502 shares during the first quarter.
• Major institutional investors including Goldman Sachs and JPMorgan Chase have significantly increased their positions in Toronto Dominion Bank, reflecting strong interest in the stock.
• Toronto Dominion Bank recently raised its quarterly dividend to $0.7568, indicating a positive change in its financial performance with a current dividend yield of 4.1%.

Legacy Financial Advisors Inc. purchased a new position in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,502 shares of the bank's stock, valued at approximately $210,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Goldman Sachs Group Inc. raised its position in shares of Toronto Dominion Bank by 93.9% during the first quarter. Goldman Sachs Group Inc. now owns 12,216,411 shares of the bank's stock worth $732,252,000 after acquiring an additional 5,917,078 shares during the last quarter. JPMorgan Chase & Co. increased its position in Toronto Dominion Bank by 38.6% during the 1st quarter. JPMorgan Chase & Co. now owns 9,994,402 shares of the bank's stock valued at $599,064,000 after purchasing an additional 2,780,984 shares during the period. Mackenzie Financial Corp raised its holdings in Toronto Dominion Bank by 5.6% during the 4th quarter. Mackenzie Financial Corp now owns 27,990,674 shares of the bank's stock worth $1,488,233,000 after purchasing an additional 1,491,472 shares during the last quarter. Burgundy Asset Management Ltd. lifted its position in shares of Toronto Dominion Bank by 137.3% in the 4th quarter. Burgundy Asset Management Ltd. now owns 2,258,881 shares of the bank's stock worth $120,143,000 after purchasing an additional 1,306,946 shares during the period. Finally, Nuveen LLC bought a new stake in shares of Toronto Dominion Bank in the 1st quarter valued at $77,336,000. 52.37% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TD. Desjardins raised shares of Toronto Dominion Bank from a "hold" rating to a "buy" rating in a research note on Wednesday, August 13th. Royal Bank Of Canada upped their target price on Toronto Dominion Bank from $87.00 to $93.00 and gave the company a "sector perform" rating in a research report on Friday, May 23rd. Scotiabank began coverage on Toronto Dominion Bank in a report on Thursday, May 15th. They issued a "sector perform" rating for the company. Zacks Research lowered Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Finally, Wall Street Zen raised shares of Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research report on Saturday, May 24th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $93.00.

Toronto Dominion Bank Stock Performance

Shares of Toronto Dominion Bank stock opened at $73.6750 on Thursday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.09. The business has a 50 day moving average price of $73.30 and a 200-day moving average price of $65.72. Toronto Dominion Bank has a 52 week low of $51.25 and a 52 week high of $75.58. The company has a market cap of $126.37 billion, a PE ratio of 10.80, a price-to-earnings-growth ratio of 1.61 and a beta of 0.84.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last posted its earnings results on Thursday, May 22nd. The bank reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.14. The firm had revenue of $10.97 billion during the quarter, compared to analyst estimates of $13.36 billion. Toronto Dominion Bank had a net margin of 13.53% and a return on equity of 13.11%. During the same quarter in the prior year, the business posted $2.04 EPS. Equities analysts anticipate that Toronto Dominion Bank will post 5.48 earnings per share 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. Shareholders of record on Thursday, July 10th were paid a $0.7568 dividend. This is a positive change from Toronto Dominion Bank's previous quarterly dividend of $0.73. The ex-dividend date was Thursday, July 10th. This represents a $3.03 annualized dividend and a yield of 4.1%. Toronto Dominion Bank's dividend payout ratio (DPR) 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.

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