Modera Wealth Management LLC Lowers Stock Holdings in Toronto Dominion Bank (The) (NYSE:TD)

Key Points

• Modera Wealth Management LLC sold 8,456 shares of Toronto Dominion Bank, reducing its stake by 6.4%, leaving it with 123,182 shares valued at $7.38 million.
• The bank reported a quarterly earnings per share (EPS) of $1.39, exceeding consensus estimates of $1.25, although revenue fell short at $10.97 billion against expectations of $13.36 billion.
• Toronto Dominion Bank announced a quarterly dividend of $0.7568 per share, resulting in an annualized dividend yield of 4.11%, up from the previous $0.73 dividend.

Modera Wealth Management LLC decreased its holdings in Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 6.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 123,182 shares of the bank's stock after selling 8,456 shares during the quarter. Modera Wealth Management LLC's holdings in Toronto Dominion Bank were worth $7,384,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Larson Financial Group LLC raised 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 period. Financial Management Professionals Inc. lifted its position 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 valued at $29,000 after acquiring an additional 374 shares in the last quarter. Moisand Fitzgerald Tamayo LLC bought a new position in shares of Toronto Dominion Bank in the first quarter worth about $32,000. CoreCap Advisors LLC lifted its holdings in Toronto Dominion Bank by 57.5% in the 4th quarter. CoreCap Advisors LLC now owns 630 shares of the bank's stock worth $34,000 after purchasing an additional 230 shares in the last quarter. Finally, ORG Partners LLC bought a new position in Toronto Dominion Bank in the 1st quarter worth approximately $34,000. 52.37% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on TD. Wall Street Zen upgraded shares of Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research report on Saturday, May 24th. Royal Bank Of Canada increased their price objective on shares of 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 began coverage on Toronto Dominion Bank in a report on Thursday, May 15th. They issued a "sector perform" rating on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Toronto Dominion Bank has an average rating of "Hold" and an average target price of $93.00.

Toronto Dominion Bank Price Performance

Shares of Toronto Dominion Bank stock traded down $0.38 during trading hours on Friday, reaching $72.50. The company's stock had a trading volume of 3,761,245 shares, compared to its average volume of 1,966,460. Toronto Dominion Bank has a one year low of $51.25 and a one year high of $75.58. 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 firm has a 50 day moving average price of $72.22 and a 200-day moving average price of $64.24. The stock has a market cap of $124.35 billion, a P/E ratio of 10.63, a P/E/G ratio of 1.65 and a beta of 0.84.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last issued its quarterly 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 return on equity of 13.11% and a net margin of 13.53%. The company had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $13.36 billion. During the same period last year, the company earned $2.04 earnings per share. On average, analysts predict that Toronto Dominion Bank will post 5.48 EPS for the current year.

Toronto Dominion Bank Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Thursday, July 10th were issued a dividend of $0.7568 per share. This represents a $3.03 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date was Thursday, July 10th. This is an increase from Toronto Dominion Bank's previous quarterly dividend of $0.73. Toronto Dominion Bank's dividend payout ratio (DPR) is presently 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.