Crossmark Global Holdings Inc. Sells 21,264 Shares of Toronto Dominion Bank (The) $TD

Key Points

• Crossmark Global Holdings reduced its Toronto Dominion Bank stake by 9.8% in the fourth quarter, selling 21,264 shares and leaving it with 194,995 shares valued at about $18.37 million.
• Institutional ownership remains significant, with hedge funds and other investors holding 52.37% of TD’s stock, and several firms recently increasing or adjusting their positions.
• Analysts currently rate TD Moderate Buy overall with a consensus price target of $93.00; the bank also reported stronger-than-expected quarterly earnings and maintains a 4.0% dividend yield.

Crossmark Global Holdings Inc. trimmed its position in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 9.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 194,995 shares of the bank's stock after selling 21,264 shares during the period. Crossmark Global Holdings Inc.'s holdings in Toronto Dominion Bank were worth $18,369,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TD. Ethic Inc. boosted its stake in shares of Toronto Dominion Bank by 13.5% in the fourth quarter. Ethic Inc. now owns 11,594 shares of the bank's stock worth $1,092,000 after acquiring an additional 1,380 shares during the period. Costello Asset Management INC bought a new stake in Toronto Dominion Bank during the 4th quarter valued at approximately $68,000. MGO One Seven LLC lifted its holdings in Toronto Dominion Bank by 4.0% in the 4th quarter. MGO One Seven LLC now owns 6,775 shares of the bank's stock worth $638,000 after purchasing an additional 263 shares in the last quarter. Crestwood Advisors Group LLC lifted its holdings in Toronto Dominion Bank by 12.6% in the 4th quarter. Crestwood Advisors Group LLC now owns 5,428 shares of the bank's stock worth $511,000 after purchasing an additional 608 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its stake in Toronto Dominion Bank by 1.2% in the 4th quarter. Sequoia Financial Advisors LLC now owns 24,439 shares of the bank's stock worth $2,302,000 after purchasing an additional 288 shares during the period. Hedge funds and other institutional investors own 52.37% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wall Street Zen raised shares of Toronto Dominion Bank from a "sell" rating to a "hold" rating in a report on Saturday, April 25th. Canadian Imperial Bank of Commerce lowered shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research report on Thursday, February 12th. Scotiabank raised shares of Toronto Dominion Bank from a "sector perform" rating to a "sector outperform" rating in a research note on Monday, May 4th. Zacks Research cut shares of Toronto Dominion Bank from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 27th. Finally, Weiss Ratings raised shares of Toronto Dominion Bank from a "buy (b)" rating to a "buy (a-)" rating in a report on Friday, March 27th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Toronto Dominion Bank presently has an average rating of "Moderate Buy" and a consensus target price of $93.00.

Toronto Dominion Bank Stock Down 0.3%

Shares of NYSE TD opened at $107.40 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.09. Toronto Dominion Bank has a 12-month low of $62.79 and a 12-month high of $109.22. The firm's 50-day moving average price is $98.90 and its 200-day moving average price is $92.93. The stock has a market capitalization of $177.88 billion, a price-to-earnings ratio of 11.87, a P/E/G ratio of 1.22 and a beta of 0.71.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last released its quarterly earnings results on Thursday, February 26th. The bank reported $1.76 EPS for the quarter, topping the consensus estimate of $1.63 by $0.13. Toronto Dominion Bank had a return on equity of 14.29% and a net margin of 17.52%.The company had revenue of $11.01 billion during the quarter, compared to analyst estimates of $10.43 billion. During the same quarter last year, the business posted $2.02 earnings per share. The firm's revenue was up 18.1% on a year-over-year basis. On average, equities research analysts anticipate that Toronto Dominion Bank will post 6.9 EPS for the current fiscal year.

Toronto Dominion Bank Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Thursday, April 9th were given a dividend of $1.08 per share. The ex-dividend date of this dividend was Thursday, April 9th. This represents a $4.32 annualized dividend and a dividend yield of 4.0%. Toronto Dominion Bank's payout ratio is currently 34.36%.

About Toronto Dominion Bank

Toronto-Dominion Bank (TD) is a Canadian multinational banking and financial services company headquartered in Toronto, Ontario. Formed through the 1955 merger of the Bank of Toronto (founded 1855) and the Dominion Bank (founded 1869), TD is one of Canada's largest banks and offers a broad range of financial products and services to individual, small business, commercial and institutional clients.

TD's core businesses include Canadian and U.S. personal and commercial banking, wealth management, wholesale banking and insurance.

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