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

Crossmark Global Holdings Inc. has decreased its investment in The Toronto-Dominion Bank (NYSE:TD - Free Report) (TSE: TD) by 15.5% during the third quarter. This information came from the company's latest Form 13F filing with the Securities and Exchange Commission (SEC). After selling 40,323 shares in that period, Crossmark now holds 220,599 shares of bank stock, which were valued at approximately $13,955,000 at the close of the reporting period.

Several other institutional investors and hedge funds have also made adjustments to their holdings in Toronto-Dominion Bank. For example, Triad Wealth Partners LLC acquired a new position in the bank during the second quarter valued at around $31,000. Additionally, Blue Trust Inc. boosted its stake by 50.7% in the same quarter, now owning 630 shares valued at $38,000 after purchasing another 212 shares last quarter. Kimelman & Baird LLC also gained a new stake valued at around $49,000 during the second quarter. Furthermore, BOKF NA raised its stake by a significant 203.6% during the first quarter, now holding 1,014 shares valued at $61,000 after acquiring 680 more shares. Lastly, Eastern Bank bought a new stake valued at $66,000 in the third quarter. It is noteworthy that institutional investors together own 52.37% of the bank's stock.

Toronto-Dominion Bank Price Trends

On Friday, shares of NYSE TD traded lower by $0.13, reaching $56.66, with a total of 1,069,506 shares changing hands compared to the average volume of 3,533,479. The market capitalization of the bank is approximately $99.07 billion, with a price-to-earnings (PE) ratio of 18.10. The price-to-earnings-growth ratio stands at 1.61, while the beta is at 0.82. Current financial ratios include a current ratio and quick ratio both at 1.02, and a low debt-to-equity ratio of 0.10. Over the past months, the Toronto-Dominion Bank has seen a 50-day moving average of $59.81 and a 200-day moving average of $57.84. The bank's stock has fluctuated between a one-year low of $53.52 and a high of $65.12.

Earnings Announcement

The Toronto-Dominion Bank recently released its quarterly earnings report on August 22nd. The bank reported earnings of $2.05 per share, surpassing analysts' average expectation of $1.49 by a substantial margin of $0.56. The bank also recorded a return on equity of 14.34% and a net margin of 6.94%. Total revenue for the quarter reached $14.18 billion, compared to the analysts' anticipated $9.40 billion. In the same quarter of the prior year, the bank had reported earnings of $1.48 per share. The revenue increased by 9.8% year-over-year. Analysts expect that The Toronto-Dominion Bank will report an earnings per share of 5.8 for the current fiscal year.

Dividend Information

Recently, the company declared a quarterly dividend that was paid out on October 31st. Shareholders recorded on October 10th received a dividend of $0.739 per share. This equates to an annualized dividend of $2.96, which corresponds to a dividend yield of 5.22%. The ex-dividend date was also October 10th, and the company currently has a dividend payout ratio of 96.49%.

Analyst Ratings

Toronto-Dominion Bank has been evaluated by multiple research analysts. Notably, National Bank Financial upgraded its rating from "underperform" to "sector perform" on August 22nd. Conversely, Royal Bank of Canada downgraded its rating from "outperform" to "sector perform" on October 11th. Additionally, StockNews.com revisited its stance on the stock, dropping it from a "hold" to a "sell" rating on the same day as National Bank Financial's assessment. Currently, one research analyst rates the stock as a sell, eight as a hold, one as a buy, and one as a strong buy, resulting in an average rating of "Hold" and a price target around $84.00 according to data from MarketBeat.

About The Toronto-Dominion Bank

The Toronto-Dominion Bank, alongside its subsidiaries, offers various financial services and products across Canada, the United States, and on an international scale. The bank operates through four key segments: Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking.

Crossmark, Toronto-Dominion, Investors