Modera Wealth Management LLC Has $9.09 Million Position in The Toronto-Dominion Bank (NYSE:TD)

Modera Wealth Management LLC cut its stake in The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 8.7% during the third quarter, HoldingsChannel reports. The fund owned 143,613 shares of the bank’s stock after selling 13,681 shares during the quarter. Modera Wealth Management LLC’s holdings in Toronto-Dominion Bank were worth $9,085,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Triad Wealth Partners LLC purchased a new stake in shares of Toronto-Dominion Bank during the 2nd quarter worth about $31,000. Blue Trust Inc. raised its position in Toronto-Dominion Bank by 50.7% during the second quarter. Blue Trust Inc. now owns 630 shares of the bank’s stock valued at $38,000 after acquiring an additional 212 shares in the last quarter. Kimelman & Baird LLC acquired a new stake in Toronto-Dominion Bank in the second quarter valued at approximately $49,000. BOKF NA grew its position in Toronto-Dominion Bank by 203.6% in the first quarter. BOKF NA now owns 1,014 shares of the bank’s stock worth $61,000 after acquiring an additional 680 shares in the last quarter. Finally, Eastern Bank bought a new position in shares of Toronto-Dominion Bank during the 3rd quarter valued at $66,000. 52.37% of the stock is currently owned by hedge funds and other institutional investors.

Toronto-Dominion Bank Stock Performance

TD opened at $56.34 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.10. The stock’s 50 day moving average price is $60.52 and its two-hundred day moving average price is $57.95. The firm has a market capitalization of $98.45 billion, a P/E ratio of 12.80, a price-to-earnings-growth ratio of 1.68 and a beta of 0.81. The Toronto-Dominion Bank has a 12-month low of $53.52 and a 12-month high of $65.12.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings data on Thursday, August 22nd. The bank reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.49 by $0.56. The business had revenue of $14.18 billion for the quarter, compared to the consensus estimate of $9.40 billion. Toronto-Dominion Bank had a net margin of 6.94% and a return on equity of 14.34%. Toronto-Dominion Bank’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company posted $1.48 earnings per share. On average, equities analysts forecast that The Toronto-Dominion Bank will post 5.82 earnings per share for the current year.

Toronto-Dominion Bank Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.739 per share. This represents a $2.96 dividend on an annualized basis and a dividend yield of 5.25%. The ex-dividend date of this dividend is Thursday, October 10th. Toronto-Dominion Bank’s dividend payout ratio is currently 68.41%.

Wall Street Analyst Weigh In

Several equities analysts have commented on TD shares. Royal Bank of Canada downgraded shares of Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research report on Friday, October 11th. StockNews.com downgraded Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research note on Thursday, August 22nd. National Bank Financial raised Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research report on Thursday, August 22nd. Finally, UBS Group started coverage on shares of Toronto-Dominion Bank in a research report on Tuesday, July 2nd. They issued a “neutral” rating on the stock. One research analyst has rated the stock with a sell rating, eight have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $84.00.

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.