LPL Financial LLC Sells 3,593 Shares of Toronto Dominion Bank (The) (NYSE:TD)

Key Points

• LPL Financial LLC reduced its holdings in Toronto Dominion Bank by 2.4% in the first quarter, now owning 145,176 shares worth approximately $8.7 million.
• The Toronto Dominion Bank's quarterly dividend has increased from $0.73 to $0.7568, representing a 4.1% annual yield.
• Several analysts have upgraded their ratings, with Royal Bank of Canada raising the price target to $93.00 and Wall Street Zen upgrading from a "sell" to a "hold" rating.

LPL Financial LLC lowered its stake in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 2.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 145,176 shares of the bank's stock after selling 3,593 shares during the quarter. LPL Financial LLC's holdings in Toronto Dominion Bank were worth $8,702,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

TD has been the topic of a number of recent analyst reports. Royal Bank Of Canada lifted their target price on Toronto Dominion Bank from $87.00 to $93.00 and gave the stock a "sector perform" rating in a research note on Friday, May 23rd. Wall Street Zen raised Toronto Dominion Bank from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. Finally, Scotiabank assumed coverage on shares of Toronto Dominion Bank in a research note 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. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $93.00.

Toronto Dominion Bank Trading Up 0.2%

Shares of Toronto Dominion Bank stock traded up $0.17 during trading hours on Tuesday, reaching $73.25. 1,153,800 shares of the company's stock were exchanged, compared to its average volume of 1,756,418. Toronto Dominion Bank has a 52-week low of $51.25 and a 52-week high of $75.58. The firm has a market capitalization of $125.64 billion, a price-to-earnings ratio of 10.74, a price-to-earnings-growth ratio of 1.65 and a beta of 0.84. The company has a fifty day moving average of $72.78 and a 200-day moving average of $65.03. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.09.

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

Toronto Dominion Bank Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Thursday, July 10th were given a dividend of $0.7568 per share. This is an increase from Toronto Dominion Bank's previous quarterly dividend of $0.73. This represents a $3.03 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Thursday, July 10th. Toronto Dominion Bank's dividend payout ratio (DPR) is currently 45.31%.

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.