Lincoln National Corp Sells 2,569 Shares of The Toronto-Dominion Bank (NYSE:TD)

Lincoln National Corp decreased its position in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 7.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 30,760 shares of the bank’s stock after selling 2,569 shares during the period. Lincoln National Corp’s holdings in Toronto-Dominion Bank were worth $1,988,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its stake in shares of Toronto-Dominion Bank by 20.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 17,134,868 shares of the bank’s stock worth $1,039,691,000 after acquiring an additional 2,870,662 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Toronto-Dominion Bank by 37.0% in the third quarter. Canada Pension Plan Investment Board now owns 8,996,955 shares of the bank’s stock worth $544,542,000 after purchasing an additional 2,431,743 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Toronto-Dominion Bank by 1.8% in the third 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 period. QV Investors Inc. purchased a new stake in shares of Toronto-Dominion Bank during the 4th quarter valued at approximately $49,752,000. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in Toronto-Dominion Bank by 12.9% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,338,785 shares of the bank’s stock valued at $262,121,000 after buying an additional 497,233 shares in the last quarter. Institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Price Performance

Shares of Toronto-Dominion Bank stock traded up $0.28 during trading on Wednesday, hitting $55.60. 363,982 shares of the stock traded hands, compared to its average volume of 3,054,449. The firm’s fifty day moving average is $58.98 and its 200-day moving average is $60.00. The stock has a market cap of $98.03 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 1.71 and a beta of 0.84. The Toronto-Dominion Bank has a 52 week low of $54.12 and a 52 week high of $66.15. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.09.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its earnings results on Thursday, February 29th. The bank reported $1.47 earnings per share for the quarter, beating the consensus estimate 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 company had revenue of $10.07 billion during the quarter, compared to analysts’ expectations of $9.35 billion. Research analysts expect 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. Investors of record on Tuesday, April 9th were issued a dividend of $0.7519 per share. This represents a $3.01 dividend on an annualized basis and a dividend yield of 5.41%. The ex-dividend date of this dividend was Monday, April 8th. This is an increase from Toronto-Dominion Bank’s previous quarterly dividend of $0.75. Toronto-Dominion Bank’s dividend payout ratio is currently 64.53%.

Analyst Upgrades and Downgrades

TD has been the subject of several recent research reports. Jefferies Financial Group assumed coverage on Toronto-Dominion Bank in a research report on Thursday, February 22nd. They issued a “hold” rating for the company. Barclays initiated coverage on Toronto-Dominion Bank in a report on Wednesday, March 20th. They set an “equal weight” rating for the company. Finally, Scotiabank upgraded shares of Toronto-Dominion Bank from a “sector perform” rating to a “sector outperform” rating in a research report on Wednesday, April 17th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $89.33.

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.