Godsey & Gibb Inc. Sells 15,577 Shares of Toronto Dominion Bank (The) $TD

Key Points

• Godsey & Gibb Inc. reduced its Toronto Dominion Bank stake by 5.7%, selling 15,577 shares and retaining 259,887 shares valued at approximately $30.5 million.
• TD reported quarterly earnings of $1.98 per share, exceeding the $1.74 analyst estimate, while revenue rose 6.9% year over year to $12.07 billion.
• The bank declared a quarterly dividend of C$1.12, representing an annualized payout of C$4.48 and a 3.8% yield; analysts maintain a “Moderate Buy” consensus with a $148 price target.

Godsey & Gibb Inc. cut its stake in shares of Toronto Dominion Bank (The) (NYSE:TD - Free Report) TSE: TD by 5.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 259,887 shares of the bank's stock after selling 15,577 shares during the period. Toronto Dominion Bank accounts for approximately 2.1% of Godsey & Gibb Inc.'s holdings, making the stock its 12th biggest holding. Godsey & Gibb Inc.'s holdings in Toronto Dominion Bank were worth $30,545,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its position in shares of Toronto Dominion Bank by 8.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 7,565,982 shares of the bank's stock worth $705,950,000 after buying an additional 589,316 shares during the period. Bank of America Corp DE grew its position in Toronto Dominion Bank by 7.8% during the first quarter. Bank of America Corp DE now owns 4,967,545 shares of the bank's stock valued at $463,522,000 after acquiring an additional 358,412 shares during the period. Auto Owners Insurance Co grew its position in Toronto Dominion Bank by 9,320.0% during the fourth quarter. Auto Owners Insurance Co now owns 3,965,443 shares of the bank's stock valued at $396,544,000 after acquiring an additional 3,923,347 shares during the period. Alberta Investment Management Corp increased its stake in Toronto Dominion Bank by 31.0% during the fourth quarter. Alberta Investment Management Corp now owns 3,181,800 shares of the bank's stock worth $299,850,000 after acquiring an additional 753,300 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of Toronto Dominion Bank in the 2nd quarter worth about $202,900,000. 52.37% of the stock is owned by hedge funds and other institutional investors.

Toronto Dominion Bank Stock Performance

NYSE:TD opened at $117.57 on Thursday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $193.38 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 1.17 and a beta of 0.75. The firm's fifty day simple moving average is $119.95 and its 200 day simple moving average is $114.86. Toronto Dominion Bank has a twelve month low of $78.43 and a twelve month high of $125.46.

Toronto Dominion Bank (NYSE:TD - Get Free Report) TSE: TD last announced its quarterly earnings results on Thursday, August 27th. The bank reported $1.98 earnings per share for the quarter, topping analysts' consensus estimates of $1.74 by $0.24. Toronto Dominion Bank had a net margin of 14.41% and a return on equity of 14.88%. The firm had revenue of $12.07 billion during the quarter, compared to analysts' expectations of $10.70 billion. During the same period in the prior year, the company earned $2.20 EPS. The firm's revenue was up 6.9% on a year-over-year basis. As a group, equities research analysts expect that Toronto Dominion Bank will post 7.04 earnings per share for the current fiscal year.

Toronto Dominion Bank Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, October 31st. Stockholders of record on Friday, October 9th will be given a C$1.12 dividend. The ex-dividend date of this dividend is Friday, October 9th. This represents a $4.48 annualized dividend and a dividend yield of 3.8%. Toronto Dominion Bank's dividend payout ratio is presently 46.81%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TD shares. Keefe, Bruyette & Woods assumed coverage on Toronto Dominion Bank in a research note on Friday, August 21st. They issued a "market perform" rating on the stock. Wall Street Zen raised shares of Toronto Dominion Bank from a "sell" rating to a "hold" rating in a research report on Saturday, August 22nd. Finally, Weiss Ratings raised shares of Toronto Dominion Bank from a "buy (b)" rating to a "buy (b+)" rating in a research report on Monday, September 28th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Toronto Dominion Bank has a consensus rating of "Moderate Buy" and a consensus price target of $148.00.

About Toronto Dominion Bank

Toronto-Dominion Bank, operating as TD Bank Group, is a Canadian financial services company headquartered in Toronto, Ontario. The bank was formed in 1955 through the merger of The Bank of Toronto and The Dominion Bank and serves customers in Canada and the United States.

TD provides a broad range of banking and financial services, including personal and commercial deposit accounts, lending, mortgages, credit cards, payments, investment products and financial advice. Its Canadian operations serve individuals, businesses and institutions, while its U.S.

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