Why Shares of TD Bank Fell 6.3% in the First Half of 2023

Shares of the large Canadian-based lender Toronto-Dominion Bank (NYSE: TD) saw its stock fall more than 6% in the first half of 2023, according to data compiled by S&P Global Market Intelligence. There were several different events that led to the decline in the stock price.

TD Bank is one of the largest banks in Canada and also one of the largest banks in the U.S. The first issue TD ran into this year involved its planned acquisition of First Horizon Corp (NYSE: FHN), which looked like it would be a nice addition to its U.S. franchise.

But like most large bank mergers this year, TD dealt with pushback and delays from regulators, and eventually the bank chose to call off the acquisition and pay a termination fee.

Source Fool.com