TD Ameritrade (AMTD) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of TD Ameritrade (NASDAQ:AMTD) from a buy rating to a hold rating in a report issued on Tuesday morning.

According to Zacks, “Shares of TD Ameritrade have outperformed the industry in the past six months. Earnings estimates for to-be-reported quarter have increased 2.9% lately. Also, the company has a decent earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. The company expects to realize synergies of $175-$225 million in fiscal 2018 from the Scottrade acquisition. Further, its focus on increasing client assets will continue to benefit its top line. Moreover, its continues to enhance overall business through introduction of innovative trading platforms. Also, TD Ameritrade is likely to benefit from consistent revenue growth and lower tax rates in the quarters ahead. However, consistently increasing expenses might deter bottom-line growth.”

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A number of other research firms have also weighed in on AMTD. Morgan Stanley boosted their price objective on shares of TD Ameritrade from $61.00 to $63.00 and gave the company an equal weight rating in a research report on Tuesday, April 10th. Keefe, Bruyette & Woods reissued a buy rating and issued a $69.00 price objective on shares of TD Ameritrade in a research report on Thursday, April 12th. Rosenblatt Securities set a $65.00 price objective on shares of TD Ameritrade and gave the company a buy rating in a research report on Friday, April 6th. Deutsche Bank boosted their price objective on shares of TD Ameritrade from $69.00 to $70.00 and gave the company a buy rating in a research report on Tuesday, March 6th. Finally, BidaskClub raised shares of TD Ameritrade from a buy rating to a strong-buy rating in a research report on Tuesday, March 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. TD Ameritrade has a consensus rating of Buy and an average price target of $61.59.

Shares of NASDAQ AMTD opened at $60.61 on Tuesday. TD Ameritrade has a 12-month low of $36.12 and a 12-month high of $63.01. The stock has a market capitalization of $33,866.27, a price-to-earnings ratio of 32.94, a price-to-earnings-growth ratio of 0.95 and a beta of 1.36. The company has a current ratio of 1.12, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35.

TD Ameritrade (NASDAQ:AMTD) last announced its quarterly earnings results on Monday, January 22nd. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.29. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.20 billion. TD Ameritrade had a net margin of 23.39% and a return on equity of 18.27%. equities analysts predict that TD Ameritrade will post 3.13 EPS for the current fiscal year.

In related news, EVP Thomas A. Nally sold 17,243 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $56.13, for a total transaction of $967,849.59. Following the completion of the transaction, the executive vice president now owns 160,079 shares of the company’s stock, valued at $8,985,234.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph H. Moglia sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $55.28, for a total transaction of $552,800.00. Following the transaction, the director now directly owns 145,000 shares of the company’s stock, valued at approximately $8,015,600. The disclosure for this sale can be found here. Corporate insiders own 0.44% of the company’s stock.

A number of hedge funds have recently modified their holdings of AMTD. Ladenburg Thalmann Financial Services Inc. increased its position in TD Ameritrade by 33.8% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,791 shares of the financial services provider’s stock worth $234,000 after purchasing an additional 1,210 shares during the last quarter. California Public Employees Retirement System grew its stake in TD Ameritrade by 2.5% during the third quarter. California Public Employees Retirement System now owns 554,421 shares of the financial services provider’s stock worth $27,056,000 after buying an additional 13,521 shares during the period. Parametric Portfolio Associates LLC grew its stake in TD Ameritrade by 25.5% during the third quarter. Parametric Portfolio Associates LLC now owns 257,842 shares of the financial services provider’s stock worth $12,583,000 after buying an additional 52,437 shares during the period. Atlantic Trust Group LLC grew its stake in TD Ameritrade by 4.9% during the third quarter. Atlantic Trust Group LLC now owns 291,230 shares of the financial services provider’s stock worth $14,213,000 after buying an additional 13,476 shares during the period. Finally, Baltimore Washington Financial Advisors Inc. purchased a new stake in TD Ameritrade during the fourth quarter worth approximately $7,227,000. 92.03% of the stock is owned by hedge funds and other institutional investors.

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TD Ameritrade Company Profile

TD Ameritrade Holding Corporation provides securities brokerage and related technology-based financial services to retail investors, traders, and independent registered investment advisors (RIAs) in the United States. Its products and services include tdameritrade.com, a Web platform for self-directed retail investors; Trade Architect, a Web-based platform for investors and traders to identify opportunities and stay informed; thinkorswim, a desktop platform for traders; and TD Ameritrade Mobile, which allows on-the-go investors and traders to trade and monitor accounts.

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