Apr. 21, 2015, 8:13 AM
- TD Ameritrade (NYSE:AMTD): Q1 EPS of $0.35 misses by $0.01.
- Revenue of $803M (-1.1% Y/Y) misses by $19.15M.
Apr. 20, 2015, 5:30 PM
Apr. 14, 2015, 7:26 AM
- Worried about the company's leverage to a flatter yield curve, Citigroup pulls its Buy rating on TD Ameritrade (NYSE:AMTD) and cuts the price target by $1 to $39.
- Shares -0.5% premarket.
Apr. 6, 2015, 12:10 PM
- Excepting Schwab (NYSE:SCHW) which pre-announced a Q1 miss, electronic broker stocks had a good first quarter, including Interactive Brokers (NASDAQ:IBKR) up 16.7%, E*Trade (NASDAQ:ETFC) up 17.7%, Gain Capital (NYSE:GCAP) up 8.3%, and TD Ameritrade (NYSE:AMTD) up 4.1%.
- Fundamentals, however, aren't looking so strong into Q2, says Sandler O'Neill, expecting DARTs to decline about 10% in March, and noting the flatter yield curve.
- The team is still bullish, though, thanks to the longer-term optionality from rising interest rates, capital returns/deployment, and acquisitions. For E*Trade, it's capital deployment, for Schwab the ability to sweep both money-market fund and off-balance-sheet deposits into its bank, and for Ameritrade the chance to boost the buyback. For the whole group, keep M&A in mind.
Mar. 30, 2015, 4:20 PM
- Steve Boyle has been CFO of Banknorth since 2004. He'll join Ameritrade (NYSE:AMTD) in July and then take over the CFO role on October 1, replacing Bill Gerber who announced his retirement in January.
Mar. 20, 2015, 10:41 AM
- Details aren't available, but the Fed news this week - rates lower for longer - surely played a part in Goldman's downgrade of TD Ameritrade (AMTD -0.1%) to Neutral from Buy.
- Profits at the discount brokerage shops have been hampered by ZIRP thanks to money market fee waivers, and the chances of a June rate hike lessened this week after the Fed cut its forecasts for GDP growth and inflation.
- Ameritrade fell nearly 3% on the open following the downgrade, but has since recovered.
- Previously: FOMC drops "patient," but sends dovish signal (March 18)
Mar. 18, 2015, 2:41 PM
- The Dow and S&P 500 have each turned more than 1% higher following after the Fed cuts its projections for GDP growth, inflation, and the pace of rate hikes, but the country's yield-starved lenders don't join the party.
- The KBE is down 0.5% and the KRE by 0.9%.
- Bank of America (BAC -0.2%), Citigroup (C +0.1%), Regions Financial (RF -1.1%), KeyCorp (KEY -0.9%), First Niagara (FNFG -1.6%), U.S. Bancorp (USB +0.1%), PNC Financial (PNC +0.3%).
- Others gasping for a yield above zero: Schwab (SCHW -1.5%), E*Trade (ETFC +0.1%), Ameritrade (AMTD -0.5%).
- Previously: FOMC drops "patient," but sends dovish signal (March 18)
- Previously: Stocks stage sharp turnaround, yields dive following dovish Fed news (March 18)
- ETFs: XLF, FAS, FAZ, UYG, KRE, VFH, KBE, IYF, IAT, SEF, IYG, FXO, FNCL, KBWB, QABA, FINU, KRU, RWW, KBWR, RYF, FINZ, KRS
Mar. 11, 2015, 7:55 AM
- It's mortgage issues firmly in the rearview mirror, E*Trade (NASDAQ:ETFC) is now a takeover target, if you believe the media and some on the sell-side.
- Asked about his interest at a financial conference yesterday, Ameritrade (NYSE:AMTD) CEO Fred Tomczyk says he's not "wasting calories" thinking about M&A, reports Bloomberg's Tara Lachapelle.
- Webcast and presentation slides
- Previously: More E*Trade takeover chatter (March 10)
- Previously: E*Trade becoming a more attractive acquisition candidate (March 4)
Mar. 10, 2015, 8:41 AM
- TD Ameritrade (NYSE:AMTD) February average client trades per day of 485K, off 2% from January, off 3% Y/Y.
- $697.6B of total client assets, up 4% from January, up 14% Y/Y.
- Average spread-based balances of $94B, flat from January, up 3% Y/Y.
- Average fee-based balances of $155.5B up 2% from January, up 17% Y/Y.
Mar. 6, 2015, 9:46 AM
- A turnaround from the action earlier this year - financials (XLF +0.9%) are marching higher in early action as the averages slip, as nervous investors buy back in following the stress test results. Also helping are surging interest rates following the strong jobs number.
- Looking at a pretty broad screen of bank names, just two - Goldman Sachs and Zions, both of which barely passed the stress test - are lower. Among the others: Bank of America (BAC +3.7%), JPMorgan (JPM +1.1%), U.S. Bancorp (USB +1.6%), Regions FInancial (RF +2.3%), KeyCorp (KEY +2.7%), PNC Financial (PNC +2.3%), BB&T (BBT +2.4%), Fifth Third (FITB +2.2%), Comerica (CMA +3.8%), BNY Mellon (BK +2.9%).
- Among those starved for higher rates: MetLife (MET +3%), Prudential (PRU +3.3%), Lincoln National (LNC +4.1%), AIG (AIG +1.4%), Hartford (HIG +2%), E*Trade (ETFC +3.9%), Schwab (SCHW +4.4%), Ameritrade (AMTD +4.3%).
- Previously: Futures slip after jobs number as yields and dollar soar (March 6)
- ETFs: XLF, FAS, FAZ, UYG, KRE, VFH, KBE, IYF, KIE, IAT, IAI, SEF, IYG, IAK, FXO, FNCL, KBWB, QABA, FINU, KCE, KRU, RWW, KBWR, RYF, KBWP, KBWI, PSCF, KBWC, FINZ, KRS
Mar. 4, 2015, 11:07 AM
- The current balance of E*Trade's (NASDAQ:ETFC) home-loan portfolio is only $6B now vs. $27B as the financial crisis began to unfold, and regulators are no longer requiring the parent company to set aside capital to support the lending unit.
- There's still risk as a buyer would have to mark the loans to market, and there's currently a wide gap between carrying value and market value. "As that [gap] goes down, I would think a buyer would be more and more interested," says Compass Point's Michael Tarkan..
- TD Ameritrade (AMTD -0.5%) and Schwab (SCHW -0.9%) seem like natural potential buyers, but lenders like CIT Group (CIT -0.8%) and Capital One (COF -0.8%) might also have interest, says Sandler O'Neill's Rich Repetto. Goldman Sachs has been rumored to have sniffed around the company as well.
Feb. 18, 2015, 2:49 PM
- The financial sector had begun to turn around a dismal start to the year as February brought forth a string of hawkish Fed heads suggesting a June rate hike, but the XLF is lower by 0.8% after just-released FOMC minutes suggest markets and the hawks are getting ahead of themselves. KBE -1.7%, KRE -2%
- The TBTFs: BofA (BAC -2.2%), JPMorgan (JPM -1.4%), Wells Fargo (WFC -1.6%), Ciitgroup (C -0.8%)
- The regionals: Regions Financial (RF -1.6%), KeyCorp (KEY -1.6%), PNC Financial (PNC -1.3%), BB&T (BBT -1.5%), Fifth Third (FITB -1.6%), SunTrust (STI -1.7%), First Niagara (FNFG -2.1%), M&T (MTB -1.9%), U.S. Bancorp (USB -1.3%), First Horizon (FHN -2.7%).
- Online brokerage: Schwab (SCHW -2.3%), E*Trade (ETFC -1.7%), Ameritrade (AMTD -1.1%), Interactive Brokers (IBKR -0.9%).
- Previously: FOMC minutes: June rate hike not a slam dunk yet (Feb. 18)
- ETFs: XLF, FAS, FAZ, UYG, KRE, VFH, KBE, IYF, IAT, IAI, SEF, IYG, FXO, FNCL, KBWB, QABA, FINU, KCE, KRU, RWW, KBWR, RYF, KBWC, FINZ, KRS
Feb. 10, 2015, 9:08 AM
- January average client trades per day of 493K down 1% from a year ago.
- $668.9B of total client assets up 14%.
- Average spread-based balances of $94.1B up 3%.
- Average fee-based balances of $151.9B up 14%.
- AMTD flat premarket
Feb. 6, 2015, 9:50 AM
- Financials have been mercilessly pounded in 2015 as hopes for higher interest rates looked like they might be dashed yet again, but today's blowout jobs number - firmly putting a June rate hike on the table - has brought in the dip-buyers.
- The major averages are flat, but the XLF is up 1.4%. The Regional Bank ETF (KRE +2%) and the Bank ETF (KBE +2.1%) are doing even better.
- Among the yield-starved banking names: Bank of America (BAC +3.1%), JPMorgan (JPM +2.6%), Citigroup (C +2%), Regions Financial (RF +4%), KeyCorp (KEY +3%), PNC Financial (PNC +2.9%), SunTrust (STI +2.3%), Zions (ZION +3.6%), Synovus (SNV +2.3%).
- Insurers: MetLife (MET +2%), Prudential (PRU +3.2%), Lincoln National (LNC +4.6%). AIG (AIG +1.5%).
- Trust banks: BNY Mellon (BK +2.7%) State Street (STT +1.9%), Northern Trust (NTRS +2.3%).
- Online brokers (currently getting killed on money-market fee rebates): Schwab (SCHW +4.5%), TD Ameritrade (AMTD +3.5%), E*Trade (ETFC +2.1%).
- ETFs: XLF, FAS, FAZ, UYG, KRE, VFH, KBE, IYF, KIE, IAT, IAI, SEF, IYG, IAK, FXO, FNCL, KBWB, QABA, FINU, KRU, RWW, KBWR, RYF, KBWP, KBWI, PSCF, FINZ, KRS
Jan. 28, 2015, 10:32 AM
- Noting the trillions of dollars forecast to be passed on from baby boomers in the coming decades, TD Ameritrade (NYSE:AMTD) Institutional announces a strategic alliance with National Advisors Trust Company to create Advisors Private Wealth Trust.
- The offering will be available to RIAs that custody assets with TD Ameritrade Institutional.
Jan. 21, 2015, 7:59 AM
- FQ1 net income of $211M or $0.39 per share flat from Q3, and up from $192M and $0.35 one year ago.
- Commissions and transaction fees of $359M vs. $328M one year ago. Average client trades per day of 457K giving an activity rate of 7.2%, up 11% Y/Y.
- Asset-based revenues of $451M vs. $407M one year ago, with interest revenue of $163M up from $128M. Investment product fee revenue of $83M up 15%.
- Operating expenses of $475M vs. $445M one year ago, with employee compensation and benefits of $199M vs. $183M.
- 3.7M shares repurchased during quarter at average price of $32.39 each.
- Conference call at 8:30 ET
- Previously: TD Ameritrade misses by $0.01, misses on revenue (Jan. 21)
- AMTD no trades premarket
TD Ameritrade Holding Corp. provides securities brokerage services and technology-based financial services to retail investors, traders and independent registered investment advisors. The company provides its services through the Internet, a national branch network and relationships with RIAs.... More
Industry: Investment Brokerage - National
Country: United States
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