TD Ameritrade Holding Corp. (NASDAQ:AMTD)’s share price gapped up before the market opened on Wednesday following a better than expected earnings announcement. The stock had previously closed at $53.58, but opened at $54.92. TD Ameritrade shares last traded at $55.05, with a volume of 3070234 shares.

The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.10. TD Ameritrade had a return on equity of 24.54% and a net margin of 27.02%. The company had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the previous year, the firm earned $0.80 earnings per share. The firm’s quarterly revenue was up 20.6% compared to the same quarter last year.

AMTD has been the topic of several analyst reports. BidaskClub lowered TD Ameritrade from a “hold” rating to a “sell” rating in a research note on Wednesday, September 26th. Bank of America lowered their price target on TD Ameritrade from $67.00 to $63.00 and set a “buy” rating for the company in a report on Wednesday, September 26th. UBS Group lowered their price target on TD Ameritrade from $63.00 to $58.00 and set a “neutral” rating for the company in a report on Monday, October 8th. Morgan Stanley raised their price target on TD Ameritrade from $60.00 to $61.00 and gave the stock a “hold” rating in a report on Tuesday, October 9th. Finally, Citigroup raised their price target on TD Ameritrade from $55.00 to $56.00 and gave the stock a “neutral” rating in a report on Wednesday, October 24th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fourteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $62.42.

Several institutional investors have recently added to or reduced their stakes in AMTD. FMR LLC lifted its holdings in shares of TD Ameritrade by 13.7% during the second quarter. FMR LLC now owns 17,201,763 shares of the financial services provider’s stock worth $942,141,000 after purchasing an additional 2,071,893 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of TD Ameritrade by 74.5% during the third quarter. JPMorgan Chase & Co. now owns 3,219,403 shares of the financial services provider’s stock worth $170,080,000 after purchasing an additional 1,374,810 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of TD Ameritrade by 45.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 4,417,104 shares of the financial services provider’s stock worth $233,356,000 after purchasing an additional 1,369,915 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of TD Ameritrade by 50.7% during the third quarter. Bank of New York Mellon Corp now owns 2,238,320 shares of the financial services provider’s stock worth $118,250,000 after purchasing an additional 753,480 shares during the period. Finally, Point72 Asset Management L.P. lifted its holdings in shares of TD Ameritrade by 292.7% during the third quarter. Point72 Asset Management L.P. now owns 940,181 shares of the financial services provider’s stock worth $49,670,000 after purchasing an additional 700,781 shares during the period. 92.28% of the stock is owned by hedge funds and other institutional investors.

The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $31.07 billion, a P/E ratio of 16.48, a PEG ratio of 0.73 and a beta of 1.18.

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TD Ameritrade Company Profile (NASDAQ:AMTD)

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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