ISI Group reported on Tuesday that it has maintained a “Buy” rating on brokerage services provider, TD Ameritrade Holding Corp. (AMTD).
The firm has reaffirmed a “Buy” rating and $23 price target on AMTD. This price target suggests a 8.5% increase from the stocks current price of $21.04.
An analyst from the firm commented, “AMTD’s February metrics were roughly in line with expectations, though IDA balances are trending lower than forecast, though this is offset by fee-based balances trending higher than expected. February DARTs of 386k were near our 387k forecast and flat with January. With client assets of $502.5bn (up 1% from January) we estimate net new assets were $3-4bn in the month, implying an annualized organic growth rate of 8-9%, in middle of mgmt’s target range but below our 12% forecast for CY1Q. Fee-based asset growth of 3% vs. Jan. outpaced equity market.”
TD Ameritrade shares were mostly flat during premarket trading Tuesday. The stock has increased 13% in the past year.
The Bottom Line
Shares of TD Ameritrade Holding Corp. (AMTD) have a 1.71% yield, based on Monday’s closing price of $21.04.
TD Ameritrade Holding Corp. (AMTD) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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