Truist Financial Corp Has $880,000 Stock Holdings in The Toronto-Dominion Bank (NYSE:TD)

Truist Financial Corp lowered its holdings in shares of The Toronto-Dominion Bank (NYSE:TD - Free Report) TSE: TD by 42.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,530 shares of the bank's stock after selling 11,953 shares during the period. Truist Financial Corp's holdings in Toronto-Dominion Bank were worth $880,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in TD. Dunhill Financial LLC boosted its stake in shares of Toronto-Dominion Bank by 164.9% during the 3rd quarter. Dunhill Financial LLC now owns 400 shares of the bank's stock worth $25,000 after acquiring an additional 249 shares in the last quarter. Versant Capital Management Inc increased its position in shares of Toronto-Dominion Bank by 40.0% in the fourth quarter. Versant Capital Management Inc now owns 700 shares of the bank's stock valued at $37,000 after buying an additional 200 shares in the last quarter. Morse Asset Management Inc acquired a new position in shares of Toronto-Dominion Bank during the 3rd quarter worth $63,000. Union Bancaire Privee UBP SA purchased a new stake in shares of Toronto-Dominion Bank in the 4th quarter worth about $58,000. Finally, Asset Planning Inc acquired a new stake in Toronto-Dominion Bank in the 4th quarter valued at about $104,000. Hedge funds and other institutional investors own 52.37% of the company's stock.

Toronto-Dominion Bank Stock Performance

Shares of NYSE TD traded up $0.69 during mid-day trading on Wednesday, hitting $59.30. The company had a trading volume of 1,741,530 shares, compared to its average volume of 2,544,301. The Toronto-Dominion Bank has a 12 month low of $51.25 and a 12 month high of $64.91. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.03 and a quick ratio of 1.03. The firm's 50 day simple moving average is $57.15 and its two-hundred day simple moving average is $57.66. The stock has a market cap of $103.90 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 1.95 and a beta of 0.84.

Toronto-Dominion Bank Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 10th will be paid a $0.7278 dividend. The ex-dividend date is Thursday, April 10th. This represents a $2.91 annualized dividend and a dividend yield of 4.91%. Toronto-Dominion Bank's payout ratio is currently 84.71%.

Analyst Upgrades and Downgrades

TD has been the subject of several research reports. Royal Bank of Canada cut their price objective on Toronto-Dominion Bank from $82.00 to $77.00 and set a "sector perform" rating for the company in a research report on Friday, December 6th. Jefferies Financial Group cut Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a report on Tuesday, February 18th. Desjardins cut Toronto-Dominion Bank from a "buy" rating to a "hold" rating in a research report on Friday, December 6th. Scotiabank cut shares of Toronto-Dominion Bank from a "sector outperform" rating to a "sector perform" rating in a research note on Friday, December 6th. Finally, Barclays downgraded shares of Toronto-Dominion Bank from an "equal weight" rating to an "underweight" rating in a research note on Thursday, November 21st. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $80.50.

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.