GSB Wealth Management LLC Decreases Holdings in The Toronto-Dominion Bank (NYSE:TD)

GSB Wealth Management LLC lowered its holdings in shares of The Toronto-Dominion Bank (NYSE:TD) (TSE:TD) by 18.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 9,741 shares of the bank’s stock after selling 2,161 shares during the period. GSB Wealth Management LLC’s holdings in Toronto-Dominion Bank were worth $616,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC bought a new position in shares of Toronto-Dominion Bank in the second quarter worth approximately $31,000. Blue Trust Inc. increased its position in shares of Toronto-Dominion Bank by 50.7% in the second quarter. Blue Trust Inc. now owns 630 shares of the bank’s stock valued at $38,000 after acquiring an additional 212 shares during the period. Kimelman & Baird LLC bought a new position in shares of Toronto-Dominion Bank during the second quarter valued at about $49,000. BOKF NA boosted its holdings in shares of Toronto-Dominion Bank by 203.6% during the first 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. Finally, Eastern Bank bought a new stake in shares of Toronto-Dominion Bank in the third quarter worth about $66,000. Hedge funds and other institutional investors own 52.37% of the company’s stock.

Toronto-Dominion Bank Price Performance

Shares of NYSE TD opened at $55.58 on Wednesday. The company has a 50 day simple moving average of $60.38 and a two-hundred day simple moving average of $57.93. 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 market capitalization of $97.18 billion, a price-to-earnings ratio of 17.74, a P/E/G ratio of 1.65 and a beta of 0.81. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.02 and a current ratio of 1.02.

Toronto-Dominion Bank (NYSE:TD) (TSE:TD) last issued its quarterly earnings results on Thursday, August 22nd. The bank reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.49 by $0.56. The firm had revenue of $14.18 billion during the quarter, compared to the consensus estimate of $9.40 billion. Toronto-Dominion Bank had a return on equity of 14.34% and a net margin of 6.94%. The company’s revenue was up 9.8% on a year-over-year basis. During the same period last year, the company earned $1.48 earnings per share. Analysts expect that The Toronto-Dominion Bank will post 5.82 EPS for the current fiscal year.

Toronto-Dominion Bank Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Thursday, October 10th will be given a $0.739 dividend. This represents a $2.96 dividend on an annualized basis and a yield of 5.32%. The ex-dividend date of this dividend is Thursday, October 10th. Toronto-Dominion Bank’s dividend payout ratio (DPR) is 96.17%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TD. StockNews.com lowered Toronto-Dominion Bank from a “hold” rating to a “sell” rating in a research report on Thursday, August 22nd. UBS Group initiated coverage on shares of Toronto-Dominion Bank in a report on Tuesday, July 2nd. They issued a “neutral” rating for the company. National Bank Financial raised shares of Toronto-Dominion Bank from an “underperform” rating to a “sector perform” rating in a research note on Thursday, August 22nd. Finally, Royal Bank of Canada downgraded shares of Toronto-Dominion Bank from an “outperform” rating to a “sector perform” rating in a research note on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $84.00.

Toronto-Dominion Bank 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.