TD Ameritrade Holding Corp. (NASDAQ:AMTD) – Equities researchers at SunTrust Banks upped their FY2018 earnings estimates for TD Ameritrade in a report issued on Tuesday. SunTrust Banks analyst D. Mewhirter now forecasts that the financial services provider will post earnings per share of $2.42 for the year, up from their prior forecast of $2.40. SunTrust Banks currently has a “Buy” rating on the stock. SunTrust Banks also issued estimates for TD Ameritrade’s Q4 2018 earnings at $0.70 EPS and FY2019 earnings at $3.07 EPS.
Several other brokerages have also recently commented on AMTD. Zacks Investment Research cut shares of TD Ameritrade from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 5th. BidaskClub raised shares of TD Ameritrade from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 2nd. Credit Suisse Group initiated coverage on shares of TD Ameritrade in a report on Thursday, November 30th. They issued an “underperform” rating and a $45.00 target price on the stock. Jefferies Group reissued a “hold” rating and issued a $46.00 target price on shares of TD Ameritrade in a report on Friday, October 6th. Finally, Bank of America set a $54.00 target price on shares of TD Ameritrade and gave the stock a “hold” rating in a report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $49.93.
TD Ameritrade (NASDAQ:AMTD) last issued its quarterly earnings results on Tuesday, October 24th. The financial services provider reported $0.49 EPS for the quarter, topping the consensus estimate of $0.46 by $0.03. TD Ameritrade had a net margin of 23.72% and a return on equity of 15.91%. The business had revenue of $983.00 million for the quarter, compared to analysts’ expectations of $958.57 million. During the same quarter last year, the company posted $0.35 earnings per share. The company’s quarterly revenue was up 18.6% compared to the same quarter last year.
Several hedge funds and other institutional investors have recently bought and sold shares of AMTD. Crow Point Partners LLC acquired a new position in shares of TD Ameritrade during the third quarter valued at approximately $102,000. Federated Investors Inc. PA grew its position in TD Ameritrade by 5.1% in the second quarter. Federated Investors Inc. PA now owns 4,054 shares of the financial services provider’s stock worth $174,000 after buying an additional 198 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in TD Ameritrade by 27.9% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 4,620 shares of the financial services provider’s stock worth $199,000 after buying an additional 1,008 shares during the last quarter. Gamco Investors INC. ET AL acquired a new position in TD Ameritrade in the third quarter worth approximately $203,000. Finally, Letko Brosseau & Associates Inc. acquired a new position in TD Ameritrade in the second quarter worth approximately $215,000. Institutional investors and hedge funds own 88.74% of the company’s stock.
In related news, Director Joseph H. Moglia sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $44.66, for a total transaction of $669,900.00. Following the transaction, the director now owns 155,000 shares in the company, valued at $6,922,300. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Luxembourg International Ho Td acquired 11,074,197 shares of the stock in a transaction that occurred on Monday, September 18th. The shares were bought at an average price of $36.12 per share, for a total transaction of $399,999,995.64. The disclosure for this purchase can be found here. Insiders own 0.42% of the company’s stock.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 21st. Stockholders of record on Tuesday, November 7th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend was Monday, November 6th. This is a boost from TD Ameritrade’s previous quarterly dividend of $0.18. TD Ameritrade’s payout ratio is 51.22%.
TD Ameritrade Company Profile
TD Ameritrade Holding Corporation is a provider of securities brokerage services and related technology-based financial services. The Company provides its services to retail investors, traders and independent registered investment advisors (RIAs). The Company provides its services through the Internet, a national branch network and relationships with RIAs.
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