TD Ameritrade (NASDAQ: AMTD) released a new set of client metrics on Tuesday night and analysts and traders alike took notice, with the stock trading down 0.74% during trading on Wednesday.
Analysts at FBR Capital issued a research note to investors on Wednesday saying that the metrics were “mostly in line with expectations” and that they also saw a modest decline in asset growth of TD Ameritrade’s clients. The analysts said that macroeconomic forces could hurt the company’s earnings growth, however, they said that the company is well positioned because of an attractive valuation on its stock price and is seeing good organic growth. The analysts reiterated their “outperform” rating and set a $23.00 price target on the stock.
TD Ameritrade Holding Corporation (TD AMERITRADE) is a provider of securities brokerage services, and technology-based financial services to retail investors and business partners.The Company provides securities brokerage services, including trade execution, clearing services and margin lending. The Company provides trustee, custodial and other trust-related services to retirement plans and other custodial accounts. The Company provides a suite of investor education products and services. The Company also provides cash sweep products through third-party banking relationships. The Company provides its services through the Internet, a national branch network and relationships with registered investment advisors (RIAs). The Company’s subsidiary TD AMERITRADE Clearing, Inc. (TDA Clearing) provides clearing and execution services. On June 11, 2009, the Company completed the acquisition of thinkorswim Group Inc.
Shares of AMTD traded down 0.74% during mid-day trading on Wednesday, hitting $16.05. The stock remained flat in after-hours trading.
