Truist Financial Corp Sells 1,178 Shares of The Toronto-Dominion Bank (NYSE:TD)

Truist Financial Corp decreased its holdings in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 2.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,526 shares of the bank’s stock after selling 1,178 shares during the quarter. Truist Financial Corp’s holdings in Toronto-Dominion Bank were worth $2,227,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Mather Group LLC. acquired a new stake in shares of Toronto-Dominion Bank during the 1st quarter worth about $29,000. Triad Wealth Partners LLC bought a new stake in shares of Toronto-Dominion Bank during the 2nd quarter valued at approximately $31,000. Blue Trust Inc. boosted its position in Toronto-Dominion Bank by 50.7% during the 2nd quarter. Blue Trust Inc. now owns 630 shares of the bank’s stock worth $38,000 after buying an additional 212 shares during the period. Kimelman & Baird LLC acquired a new stake in Toronto-Dominion Bank during the 2nd quarter worth approximately $49,000. Finally, BOKF NA lifted its position in shares of Toronto-Dominion Bank by 203.6% in the 1st quarter. BOKF NA now owns 1,014 shares of the bank’s stock worth $61,000 after purchasing an additional 680 shares during the period. Institutional investors and hedge funds own 52.37% of the company’s stock.

Toronto-Dominion Bank Stock Performance

NYSE:TD opened at $59.45 on Friday. The firm has a market cap of $103.88 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 1.86 and a beta of 0.81. The Toronto-Dominion Bank has a fifty-two week low of $53.52 and a fifty-two week high of $65.12. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02. The business has a 50 day moving average price of $60.61 and a 200-day moving average price of $58.19.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last announced its quarterly earnings results on Thursday, August 22nd. The bank reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.56. Toronto-Dominion Bank had a return on equity of 14.34% and a net margin of 6.94%. The company had revenue of $14.18 billion during the quarter, compared to analyst estimates of $9.40 billion. During the same quarter last year, the firm posted $1.48 earnings per share. The firm’s revenue was up 9.8% on a year-over-year basis. Equities research analysts predict that The Toronto-Dominion Bank will post 5.84 earnings per share for the current year.

Toronto-Dominion Bank Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be given a dividend of $0.739 per share. This represents a $2.96 annualized dividend and a yield of 4.97%. The ex-dividend date of this dividend is Thursday, October 10th. Toronto-Dominion Bank’s dividend payout ratio is currently 68.41%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. National Bank Financial upgraded shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research note on Thursday, August 22nd. UBS Group began coverage on shares of Toronto-Dominion Bank in a research note on Tuesday, July 2nd. They issued a “neutral” rating for the company. Finally, StockNews.com downgraded shares of Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a report on Thursday, August 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Toronto-Dominion Bank has a consensus rating of “Hold” and an average price target of $84.00.

Toronto-Dominion Bank Company Profile

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.