Crossmark Global Holdings Inc. Reduces Its Stake in The Toronto-Dominion Bank

Crossmark Global Holdings Inc. has lowered its investment in The Toronto-Dominion Bank (NYSE: TD) by 15.5% during the third quarter. This change was detailed in the latest Form 13F filing with the Securities and Exchange Commission (SEC). After selling 40,323 shares, Crossmark now holds 220,599 shares of the bank, which amounted to a value of approximately $13,955,000 at the close of the reporting period.

In addition to Crossmark's adjustment, other institutional investors have also altered their positions in Toronto-Dominion Bank. For instance, Triad Wealth Partners LLC initiated a new investment in the bank during the second quarter, valued at $31,000. Blue Trust Inc. increased its shareholdings by 50.7% during the same period, now owning a total of 630 shares worth about $38,000 after adding 212 shares recently. Another firm, Kimelman & Baird LLC, established a new stake valued at around $49,000. BOKF NA also grew its investment in the first quarter, more than tripling its holdings to 1,014 shares valued at $61,000 after purchasing 680 additional shares. Furthermore, Eastern Bank bought new shares valued at $66,000 in the third quarter. Currently, institutional investors collectively own 52.37% of the bank's outstanding stock.

Toronto-Dominion Bank's Stock Performance

On Friday, the shares of Toronto-Dominion Bank traded down by $0.13, reaching a price of $56.66. The trading volume for the day was 1,069,506 shares, which is lower than the average trading volume of 3,533,479 shares. The bank has a market capitalization of $99.07 billion, a price-to-earnings (PE) ratio of 18.10, and a price-to-earnings-growth ratio of 1.61. The stock also has a beta of 0.82, indicating less volatility compared to the market. The current ratio and quick ratio are both at 1.02, while the debt-to-equity ratio stands at 0.10. The fifty-day moving average is $59.81, and the two-hundred-day moving average is $57.84. Over the past year, Toronto-Dominion Bank's stock has seen a low of $53.52 and a high of $65.12.

Recent Earnings Results

The Toronto-Dominion Bank reported its quarterly earnings on August 22nd, showing earnings per share (EPS) of $2.05, which surpassed the consensus estimate of $1.49 by $0.56. The bank achieved a return on equity of 14.34% and maintained a net margin of 6.94%. Revenue for the quarter reached $14.18 billion, significantly above the analysts' prediction of $9.40 billion. In the same quarter last year, the bank posted an EPS of $1.48, indicating a year-over-year revenue growth of 9.8%. Analysts forecast that Toronto-Dominion Bank will achieve an EPS of 5.8 for the current fiscal year.

Dividend Announcement

Recently, Toronto-Dominion Bank declared a quarterly dividend that was distributed on October 31st. Shareholders on record as of October 10th received a dividend of $0.739 per share, translating to an annual dividend of $2.96 and a dividend yield of 5.22%. The ex-dividend date for this payment was also on October 10th. Currently, the bank's dividend payout ratio is rated at 96.49%.

Wall Street Analyst Ratings

Several research analysts have provided updates on Toronto-Dominion Bank's stock rating. National Bank Financial upgraded the bank's shares from an "underperform" to a "sector perform" rating on August 22nd. Conversely, Royal Bank of Canada downgraded shares from "outperform" to "sector perform" on October 11th. StockNews.com likewise reduced the stock's rating from a "hold" to a "sell" on August 22nd. The current consensus suggests one sell rating, eight hold ratings, one buy rating, and one strong buy rating for the stock. As per MarketBeat, Toronto-Dominion Bank has an average rating of "Hold" with an average price target of $84.00.

About Toronto-Dominion Bank

(Free Report)

Toronto-Dominion Bank offers a wide range of financial services and products through its various subsidiaries across Canada, the United States, and other international markets. The bank operates in four key segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.

Crossmark, Toronto-Dominion, Bank