Zacks Investment Research Downgrades TD Ameritrade Holding Corporation (AMTD) to Hold

Zacks Investment Research cut shares of TD Ameritrade Holding Corporation (NASDAQ:AMTD) from a buy rating to a hold rating in a research note issued to investors on Monday.

According to Zacks, “TD Ameritrade has outperformed the industry in the past year. The company’s third-quarter fiscal 2017 results surpassed the Zacks Consensus Estimate. Results reflected increased revenues and eased margin pressure.  The company recorded a rise in average client trades per day in the fiscal third quarter with the trend continuing in the first month of the current quarter, indicating trading activity improvement. Further, its deal to acquire Scottrade is likely to be accretive to earnings per share (EPS) in double digits. Though we remain cautious of the elevated costs, which are likely to weigh on the financials, TD Ameritrade’s steady capital deployment activities are encouraging.”

Several other research firms have also recently weighed in on AMTD. Morgan Stanley restated an equal weight rating and set a $43.00 price target (up from $40.00) on shares of TD Ameritrade Holding Corporation in a report on Tuesday, July 25th. SunTrust Banks, Inc. restated a buy rating and set a $50.00 price target (up from $46.00) on shares of TD Ameritrade Holding Corporation in a report on Wednesday, July 19th. BidaskClub cut shares of TD Ameritrade Holding Corporation from a strong-buy rating to a buy rating in a report on Friday, July 28th. Instinet restated a buy rating and set a $49.00 price target (down from $50.00) on shares of TD Ameritrade Holding Corporation in a report on Thursday, July 13th. Finally, Nomura cut their price target on shares of TD Ameritrade Holding Corporation from $50.00 to $49.00 and set a buy rating on the stock in a report on Thursday, July 13th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $44.47.

Shares of TD Ameritrade Holding Corporation (NASDAQ:AMTD) opened at 42.44 on Monday. TD Ameritrade Holding Corporation has a one year low of $30.97 and a one year high of $47.41. The company has a market capitalization of $22.41 billion, a PE ratio of 26.52 and a beta of 1.48. The stock has a 50 day moving average of $44.94 and a 200-day moving average of $40.99.

TD Ameritrade Holding Corporation (NASDAQ:AMTD) last released its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.03. TD Ameritrade Holding Corporation had a net margin of 24.01% and a return on equity of 16.09%. The business had revenue of $931 million for the quarter, compared to analysts’ expectations of $897.98 million. During the same period in the previous year, the company earned $0.45 earnings per share. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. On average, equities analysts forecast that TD Ameritrade Holding Corporation will post $1.68 earnings per share for the current fiscal year.

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The business also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Shareholders of record on Tuesday, August 1st were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend was Friday, July 28th. TD Ameritrade Holding Corporation’s payout ratio is 45.00%.

In other news, Director Joseph H. Moglia sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $40.45, for a total value of $404,500.00. Following the sale, the director now owns 170,000 shares of the company’s stock, valued at $6,876,500. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.42% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Valley National Advisers Inc. raised its stake in TD Ameritrade Holding Corporation by 6.1% in the first quarter. Valley National Advisers Inc. now owns 3,247 shares of the financial services provider’s stock valued at $126,000 after buying an additional 188 shares during the period. Global X Management Co. LLC raised its stake in TD Ameritrade Holding Corporation by 37.9% in the first quarter. Global X Management Co. LLC now owns 3,290 shares of the financial services provider’s stock valued at $128,000 after buying an additional 904 shares during the period. Van ECK Associates Corp raised its stake in TD Ameritrade Holding Corporation by 7.3% in the first quarter. Van ECK Associates Corp now owns 3,613 shares of the financial services provider’s stock valued at $140,000 after buying an additional 247 shares during the period. Bronfman E.L. Rothschild L.P. raised its stake in TD Ameritrade Holding Corporation by 1.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 4,394 shares of the financial services provider’s stock valued at $171,000 after buying an additional 44 shares during the period. Finally, Federated Investors Inc. PA raised its stake in TD Ameritrade Holding Corporation by 5.1% in the second quarter. Federated Investors Inc. PA now owns 4,054 shares of the financial services provider’s stock valued at $174,000 after buying an additional 198 shares during the period. 90.40% of the stock is currently owned by institutional investors.

About TD Ameritrade Holding Corporation

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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