The Toronto-Dominion Bank (NYSE:TD) Shares Purchased by Legacy Financial Advisors Inc.

Legacy Financial Advisors Inc. grew its stake in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 26.3% during the fourth quarter, Holdings Channel reports. The firm owned 6,159 shares of the bank’s stock after purchasing an additional 1,283 shares during the period. Legacy Financial Advisors Inc.’s holdings in Toronto-Dominion Bank were worth $398,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TD. Vanguard Group Inc. lifted its holdings in shares of Toronto-Dominion Bank by 1.8% in the 3rd quarter. Vanguard Group Inc. now owns 72,384,265 shares of the bank’s stock valued at $4,361,876,000 after purchasing an additional 1,303,730 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Toronto-Dominion Bank by 0.4% in the third quarter. CIBC Asset Management Inc now owns 17,918,370 shares of the bank’s stock valued at $1,082,848,000 after buying an additional 76,129 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Toronto-Dominion Bank by 20.1% in the third quarter. The Manufacturers Life Insurance Company now owns 17,134,868 shares of the bank’s stock valued at $1,039,691,000 after acquiring an additional 2,870,662 shares during the period. Toronto Dominion Bank grew its position in shares of Toronto-Dominion Bank by 0.9% during the third quarter. Toronto Dominion Bank now owns 14,630,614 shares of the bank’s stock worth $881,641,000 after acquiring an additional 126,116 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Toronto-Dominion Bank by 3.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 11,171,750 shares of the bank’s stock worth $673,210,000 after acquiring an additional 342,932 shares during the last quarter. Institutional investors and hedge funds own 52.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TD shares. Jefferies Financial Group began coverage on shares of Toronto-Dominion Bank in a research note on Thursday, February 22nd. They set a “hold” rating for the company. Scotiabank raised shares of Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a report on Wednesday, April 17th. Finally, Barclays assumed coverage on Toronto-Dominion Bank in a report on Wednesday, March 20th. They set an “equal weight” rating on the stock. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $89.33.

Toronto-Dominion Bank Stock Performance

Toronto-Dominion Bank stock traded down $3.42 during trading hours on Friday, reaching $54.66. 8,094,543 shares of the stock were exchanged, compared to its average volume of 3,513,261. The stock has a market cap of $96.38 billion, a P/E ratio of 11.68, a P/E/G ratio of 1.70 and a beta of 0.85. The firm’s 50 day moving average is $59.16 and its 200 day moving average is $60.03. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.99 and a current ratio of 0.99. The Toronto-Dominion Bank has a 52-week low of $54.12 and a 52-week high of $66.15.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its earnings results on Thursday, February 29th. The bank reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.42 by $0.05. Toronto-Dominion Bank had a return on equity of 14.15% and a net margin of 11.16%. The business had revenue of $10.07 billion during the quarter, compared to the consensus estimate of $9.35 billion. Analysts predict that The Toronto-Dominion Bank will post 5.77 EPS for the current fiscal year.

Toronto-Dominion Bank Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 9th were issued a $0.7519 dividend. The ex-dividend date of this dividend was Monday, April 8th. This represents a $3.01 dividend on an annualized basis and a yield of 5.50%. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $0.75. Toronto-Dominion Bank’s dividend payout ratio (DPR) is 30.56%.

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.