TD Ameritrade Holding Corp. (NASDAQ:AMTD) – Equities researchers at G.Research dropped their FY2022 earnings estimates for TD Ameritrade in a note issued to investors on Wednesday, October 23rd. G.Research analyst M. Sykes now anticipates that the financial services provider will earn $3.55 per share for the year, down from their previous estimate of $3.60. G.Research also issued estimates for TD Ameritrade’s FY2023 earnings at $3.90 EPS.
A number of other research firms have also recently issued reports on AMTD. Morgan Stanley increased their price objective on shares of TD Ameritrade from $53.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 24th. ValuEngine raised shares of TD Ameritrade from a “sell” rating to a “hold” rating in a research report on Saturday, October 19th. Wells Fargo & Co cut shares of TD Ameritrade from an “outperform” rating to an “underperform” rating and cut their price objective for the stock from $58.00 to $30.00 in a research report on Thursday, October 3rd. Bank of America cut shares of TD Ameritrade from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $57.00 to $39.00 in a research report on Tuesday, October 1st. Finally, Credit Suisse Group cut their price objective on shares of TD Ameritrade from $61.00 to $53.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 1st. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $44.82.
TD Ameritrade (NASDAQ:AMTD) last released its quarterly earnings data on Monday, October 21st. The financial services provider reported $1.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.08. The company had revenue of $1.56 billion for the quarter, compared to analysts’ expectations of $1.47 billion. TD Ameritrade had a net margin of 36.72% and a return on equity of 27.18%. The business’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.92 EPS.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 19th. Investors of record on Tuesday, November 5th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date is Monday, November 4th. This is a positive change from TD Ameritrade’s previous quarterly dividend of $0.30. TD Ameritrade’s dividend payout ratio is currently 29.06%.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. MUFG Americas Holdings Corp purchased a new stake in TD Ameritrade in the 2nd quarter valued at about $25,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in TD Ameritrade in the 2nd quarter valued at about $32,000. Steward Partners Investment Advisory LLC purchased a new stake in TD Ameritrade in the 2nd quarter valued at about $35,000. Financial Advantage Inc. purchased a new stake in TD Ameritrade in the 3rd quarter valued at about $49,000. Finally, NuWave Investment Management LLC increased its stake in TD Ameritrade by 333.4% in the 3rd quarter. NuWave Investment Management LLC now owns 1,608 shares of the financial services provider’s stock valued at $55,000 after buying an additional 1,237 shares during the last quarter. Institutional investors own 91.61% of the company’s stock.
TD Ameritrade Company Profile
TD Ameritrade Holding Corporation provides securities brokerage and related technology-based financial services to retail investors and traders, and independent registered investment advisors (RIAs) in the United States. It offers trade execution, clearing, and margin lending services; futures and foreign exchange trade execution services; and trustee, custodial, and other trust-related services to retirement plans and other custodial accounts, as well as provides cash sweep and deposit account products through third-party relationships.
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