Bank of America Corporation Lowers TD Ameritrade Holding Corporation (NASDAQ:AMTD) to Neutral

Bank of America Corporation cut shares of TD Ameritrade Holding Corporation (NASDAQ:AMTD) from a buy rating to a neutral rating in a report issued on Monday, October 9th, MarketBeat reports. Bank of America Corporation currently has $52.00 price objective on the financial services provider’s stock, up from their previous price objective of $51.00. The analysts noted that the move was a valuation call.

Other research analysts also recently issued reports about the company. Instinet reaffirmed a buy rating and set a $49.00 target price (down from $50.00) on shares of TD Ameritrade Holding Corporation in a report on Thursday, July 13th. Nomura cut their target price on 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. Rosenblatt Securities started coverage on TD Ameritrade Holding Corporation in a report on Thursday, July 13th. They set a buy rating and a $50.00 target price on the stock. Zacks Investment Research raised TD Ameritrade Holding Corporation from a hold rating to a buy rating and set a $50.00 target price for the company in a research report on Wednesday, July 12th. Finally, SunTrust Banks, Inc. reaffirmed a buy rating and issued a $50.00 target price (up from $46.00) on shares of TD Ameritrade Holding Corporation in a research report on Wednesday, July 19th. Nine investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $48.79.

Shares of TD Ameritrade Holding Corporation (NASDAQ AMTD) opened at 47.22 on Monday. The firm has a market cap of $24.94 billion, a P/E ratio of 29.51 and a beta of 1.55. TD Ameritrade Holding Corporation has a 52-week low of $33.26 and a 52-week high of $50.72. The stock’s 50 day moving average is $46.09 and its 200-day moving average is $42.29.

TD Ameritrade Holding Corporation (NASDAQ:AMTD) last issued its quarterly earnings data on Tuesday, July 18th. The financial services provider reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.03. The business had revenue of $931.00 million for the quarter, compared to analyst estimates of $897.98 million. TD Ameritrade Holding Corporation had a return on equity of 16.09% and a net margin of 24.01%. TD Ameritrade Holding Corporation’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.45 EPS. Equities analysts anticipate that TD Ameritrade Holding Corporation will post $1.70 earnings per share for the current fiscal year.

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In other news, Director Joseph H. Moglia sold 15,000 shares of the business’s stock in a transaction 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 completion of the sale, the director now owns 155,000 shares of the company’s stock, valued at approximately $6,922,300. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Luxembourg International Ho Td acquired 11,074,197 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were acquired at an average cost of $36.12 per share, with a total value of $399,999,995.64. The disclosure for this purchase can be found here. Insiders own 0.42% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Crow Point Partners LLC purchased a new position in shares of TD Ameritrade Holding Corporation during the 3rd quarter valued at $102,000. Global X Management Co. LLC lifted its stake in shares of TD Ameritrade Holding Corporation by 37.9% during the 1st 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 in the last quarter. Van ECK Associates Corp lifted its stake in shares of TD Ameritrade Holding Corporation by 7.3% during the 1st 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 in the last quarter. Federated Investors Inc. PA lifted its stake in shares of TD Ameritrade Holding Corporation by 5.1% during the 2nd 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 in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of TD Ameritrade Holding Corporation by 27.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 4,620 shares of the financial services provider’s stock valued at $199,000 after buying an additional 1,008 shares in the last quarter. Institutional investors own 93.53% of the company’s stock.

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.

Analyst Recommendations for TD Ameritrade Holding Corporation (NASDAQ:AMTD)

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