AMTD - TD Ameritrade Holding Corporation

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
49.32
-1.38 (-2.72%)
At close: 4:00PM EST
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Previous Close50.70
Open50.73
Bid47.30 x 1300
Ask49.32 x 1100
Day's Range49.17 - 50.78
52 Week Range32.69 - 57.88
Volume4,371,154
Avg. Volume5,040,291
Market Cap26.66B
Beta (5Y Monthly)N/A
PE Ratio (TTM)13.73
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • E*TRADE (ETFC) Q4 Earnings Beat on Higher DARTs, Costs Up
    Zacks

    E*TRADE (ETFC) Q4 Earnings Beat on Higher DARTs, Costs Up

    E*TRADE (ETFC) Q4 performance displays a rise in non-interest income, a benefit to provision for loan losses and improved DARTs, partly muted by fall in net interest income and higher expenses.

  • Sallie Mae (SLM) Q4 Earnings Top Estimates, Expenses Fall
    Zacks

    Sallie Mae (SLM) Q4 Earnings Top Estimates, Expenses Fall

    Sallie Mae's (SLM) fourth-quarter 2019 results reflect rise in interest income and lower expenses, partly muted by higher provisions.

  • TD Ameritrade (AMTD) Q1 Earnings Miss on Lower Revenues
    Zacks

    TD Ameritrade (AMTD) Q1 Earnings Miss on Lower Revenues

    TD Ameritrade's (AMTD) Q1 (ending Dec 31) earnings underline lower revenues and higher expenses, partly mitigated by steady trading activity.

  • Low Net Interest Income to Erode Huntington (HBAN) Q4 Earnings
    Zacks

    Low Net Interest Income to Erode Huntington (HBAN) Q4 Earnings

    Huntington Bancshares' (HBAN) Q4 results likely to reflect lower net interest income, partly offset by prudent expense control.

  • Dismal Lending, Low Rates to Hurt Zions (ZION) in Q4 Earnings
    Zacks

    Dismal Lending, Low Rates to Hurt Zions (ZION) in Q4 Earnings

    Lower interest rates along with muted loan growth are expected to have negatively impacted Zions' (ZION) interest revenues in the fourth quarter of 2019.

  • Credit Card Strength to Aid Capital One's (COF) Q4 Earnings
    Zacks

    Credit Card Strength to Aid Capital One's (COF) Q4 Earnings

    Capital One's (COF) focus on credit card operations is likely to have supported Q4 earnings amid lower interest rates.

  • Why TD Ameritrade (AMTD) Might Surprise This Earnings Season
    Zacks

    Why TD Ameritrade (AMTD) Might Surprise This Earnings Season

    TD Ameritrade (AMTD) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.

  • Will Muted Lending Hurt Fifth Third's (FITB) Q4 Earnings?
    Zacks

    Will Muted Lending Hurt Fifth Third's (FITB) Q4 Earnings?

    Fifth Third's (FITB) Q4 results are expected to reflect higher fee income. Lower interest income might have hurt the bottom line.

  • Low Rates to Impact Northern Trust's (NTRS) Q4 Earnings
    Zacks

    Low Rates to Impact Northern Trust's (NTRS) Q4 Earnings

    Northern Trust's (NTRS) Q4 results likely to reflect prudent expense control, offset by top-line pressure.

  • Charles Schwab’s Zero-Fee Plan Pushes Assets to Record $4 Trillion
    Bloomberg

    Charles Schwab’s Zero-Fee Plan Pushes Assets to Record $4 Trillion

    (Bloomberg) -- Charles Schwab Corp.’s plan to eliminate trading fees pushed client assets to a record, surpassing $4 trillion and sending shares higher, even as the firm faced a decline in trading revenue.Customers opened 433,000 new brokerage accounts in fourth quarter, bringing the total to 12.3 million, according to a statement issued Thursday. Trading revenue plunged 58% to $86 million in the period after the company introduced zero-commission trades.The results are the first view of how the largest discount broker’s fee change, which was followed by rivals, is impacting Schwab’s bottom line. And it comes after the company’s $26 billion agreement to buy rival TD Ameritrade Holding Corp.The shares rose more than 4% to $49 in New York trading, the biggest gain since Nov. 21 when news of the Ameritrade deal first broke.Schwab incurred $17 million in pretax acquisition-related expenses in the quarter, which weighed on profit. Schwab reported earnings of 62 cents per share, compared with the average estimate of 64 cents.While earnings missed estimates, the growth in assets, new accounts and client cash pointed in a positive direction, said to Devin Ryan, an analyst with JMP Securities.“There’s reason for optimism on the underlying outlook for the business,” Ryan said in an interview.Other highlightsFourth quarter net interest revenue -- the money Schwab makes from client cash and the largest source of profits -- fell about 2%Total quarterly revenue declined to $2.6 billionSchwab plans a business update conference call with investors on Feb. 4 at 11:30 a.m. New York time.Read moreSchwab Triggers Online-Broker Bloodbath as Price War DeepensBrokers Profit From You Even If They Don’t Charge for TradingSchwab to Acquire TD Ameritrade in Reshaping of Industry (1)(Adds account graphic and shares after third paragraph)To contact the reporters on this story: John Gittelsohn in Los Angeles at johngitt@bloomberg.net;Annie Massa in New York at amassa12@bloomberg.netTo contact the editors responsible for this story: Sam Mamudi at smamudi@bloomberg.net, Alan Mirabella, Melissa KarshFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Schwab (SCHW) Q4 Earnings Miss Estimates as Revenues Fall
    Zacks

    Schwab (SCHW) Q4 Earnings Miss Estimates as Revenues Fall

    Fall in trading revenues, lower interest rates and a slight rise in non-interest expenses hurt Schwab's (SCHW) Q4 earnings.

  • Fee Income to Support Regions Financial's (RF) Q4 Earnings
    Zacks

    Fee Income to Support Regions Financial's (RF) Q4 Earnings

    Regions Financial's (RF) Q4 results anticipated to reflect soft loan growth, partially offset by likely upside in fee income.

  • Muted Lending, Low Rates to Hurt Comerica (CMA) Q4 Earnings
    Zacks

    Muted Lending, Low Rates to Hurt Comerica (CMA) Q4 Earnings

    Comerica's (CMA) Q4 earnings are expected to have been affected by slowdown in commercial lending and interest rate cuts. Rise in card fees and controlled expenses might have lent support.

  • Lower Interest Rates to Hurt State Street (STT) Q4 Earnings
    Zacks

    Lower Interest Rates to Hurt State Street (STT) Q4 Earnings

    Lower interest rates and soft loan growth are expected to have hurt State Street's (STT) interest income in the fourth quarter of 2019.

  • Can Citizens (CFG) Maintain its Earnings Beat Streak in Q4?
    Zacks

    Can Citizens (CFG) Maintain its Earnings Beat Streak in Q4?

    Higher fee income might have supported Citizens Financial's (CFG) Q4 earnings amid lower interest rates.

  • TD Ameritrade (AMTD) Expected to Beat Earnings Estimates: Can the Stock Move Higher?
    Zacks

    TD Ameritrade (AMTD) Expected to Beat Earnings Estimates: Can the Stock Move Higher?

    TD Ameritrade (AMTD) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

  • Can Higher Client Activity Aid Schwab (SCHW) in Q4 Earnings?
    Zacks

    Can Higher Client Activity Aid Schwab (SCHW) in Q4 Earnings?

    While Schwab's (SCHW) trading revenues are likely to have improved in the fourth quarter on rise in client activity, interest revenues are expected to have been hurt.

  • Can Growth in Assets Aid BNY Mellon (BK) in Q4 Earnings?
    Zacks

    Can Growth in Assets Aid BNY Mellon (BK) in Q4 Earnings?

    While lower rates are likely to have hurt BNY Mellon's (BK) net interest revenues in the fourth quarter of 2019, asset growth is expected to have positively impacted performance fees.

  • What's in the Cards for BlackRock (BLK) in Q4 Earnings?
    Zacks

    What's in the Cards for BlackRock (BLK) in Q4 Earnings?

    While steady iShares inflows are expected to have supported BlackRock's (BLK) AUM in the fourth quarter of 2019, higher costs might have hurt its performance.

  • Will TD Ameritrade (AMTD) Beat Estimates Again in Its Next Earnings Report?
    Zacks

    Will TD Ameritrade (AMTD) Beat Estimates Again in Its Next Earnings Report?

    TD Ameritrade (AMTD) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

  • Revealed: I Just Bought This Stock for My RRSP
    The Motley Fool

    Revealed: I Just Bought This Stock for My RRSP

    You won't find many financial institutions finer than TD Bank (TSX:TD)(NYSE:TD). That's why this stud bank has found a home in my portfolio.

  • BancorpSouth on Buyout Spree, Closes Texas First Merger
    Zacks

    BancorpSouth on Buyout Spree, Closes Texas First Merger

    BancorpSouth Bank (BXS) closes merger with Texas First Bancshares, expanding its footprint in Texas.

  • First Financial Completes Acquisition of TB&T Bancshares
    Zacks

    First Financial Completes Acquisition of TB&T Bancshares

    First Financial Bankshares (FFIN) strengthens its foothold in the high growth areas around Houston through the TB&T Bancshares buyout.

  • Bloomberg

    The Death of Brokerage Fees Was 50 Years in the Making

    (Bloomberg Opinion) -- It looks as if 2019 will be remembered as the year when stock brokerage fees, having declined for years, finally disappeared altogether. Led by the free stock-trading startup Robinhood Markets Inc., a host of big names have eliminated fees: E*Trade Financial Corp., Charles Schwab Corp., TD Ameritrade Holding Corp. and many others.Although it’s tempting to credit this development to online platforms, this is a revolution 50 years in the making. In the late 1960s, some iconoclastic reformers started a campaign to kill off fixed brokerage fees. Today, we’re witnessing the logical culmination of that effort.It’s hard to imagine now, but for most of Wall Street’s history, the New York Stock Exchange required member brokers to charge customers a minimum commission rate, typically a percentage of the par value of the shares traded. This was a function of the NYSE’s identity as a quasi-cartel that ensured all member brokers a share of the commission pie, shielding them from the ruinous effects of no-holds-barred competition.That one of the primary engines of American capitalism once engaged in deeply anti-competitive behavior may seem strange, but for the architects of the NYSE, this was a sacred creed. In 1894, the NYSE’s Governing Committee called the minimum commission rule “the fundamental principle of the Exchange … on its strict adherence hangs the financial welfare and the life of the Institution itself.”This sentiment prevailed well into the 20th century, surviving the creation of the Securities and Exchange Commission in the 1930s. In fact, New Deal reformers didn’t want to touch minimum commissions, fearing that their removal would spark dangerous speculation in the stock market.By the 1960s, though, the brokerage fee structure had come under strain. The key was the rise of institutional investors. Big players like insurance companies and pension funds accounted for only a fifth of total trading volume in 1950; a decade later they accounted for a solid majority.Stock brokers welcomed them. After all, they got a far larger commission with the buying and selling of large blocks of shares, even though it wasn’t really any more work. But these large commissions had the inadvertent effect of undermining the minimum-fee structure: Brokers were so desperate to land big customers that they began bending the rules.How they did so was a testament to the brokers’ ingenuity. The NYSE brokers couldn’t abandon the fixed-rate structure, so they negotiated what was known as a “customer-directed give up.” A big institutional investor would buy (or sell) a large block of shares and pay the broker the standard fee. But the customer would then direct the broker to “give up” upward of 70% of the fee, redirecting it to other brokers who had done other work for the client: equity research, for example.This was price competition camouflaged via an elaborate network of rebates and redistributions — and it worked, if imperfectly. As the Wall Street Journal observed, “There was so much fat in the commission on large orders that brokers were willing to negotiate the size of their fee with the large customers, then give away the rest.” Of course, the same privilege wasn’t extended to individual investors; they had to pay full freight.The Justice Department’s Antitrust Division knew what was happening, and as early as 1967, it urged the NYSE to abandon its attachment to fixed commissions. The NYSE fought back. Robert Haack, its newly appointed president, warned Congress that negotiated rates might lead to the “undoing of the world’s principal securities market.” But the government would not be moved, with the Securities and Exchange Commission likewise recommending reform.What changed things, though, was the conversion of none other than Haack himself. In what the New York Times would describe as “perhaps the most controversial speech ever given by a Big Board president,” Haack in late 1970 got up in front of a dinner attended by the governors of the NYSE and other Wall Street players. The attendees expected a conventional boring speech. Instead, as historians Janice Traflet and Michael Coyne have chronicled, the listeners received a tongue-lashing.Haack blasted the fixed-rate rule, blaming it for what he described as “indiscreet excesses” and “inept management” at brokerage firms battening on excessive fees. He counseled the NYSE to abandon “archaic and anachronistic practices and procedures,” and bluntly told his listeners that the “vestiges of a private-club atmosphere which remain at the New York Stock Exchange must be discarded.”This speech aroused intense indignation, with many calling for his removal. But Haack didn’t back down: The fixed-commission system was driving a growing number of investors into third-party contracts outside the purview of the NYSE. If this continued, the Big Board might become irrelevant.Haack wasn’t alone. Merrill Lynch and Salomon Brothers issued calls for reform, recognizing that they could readily compete — and profit — in a world of competitive bidding. Others, like newly created discount broker Charles Schwab, also pushed for deregulation, seeing an opportunity to grab business from firms ill-prepared to fend for themselves.The SEC forced reform on the NYSE in several steps. The first was an order that brokers making transactions of half a million dollars or more had to submit to negotiated rates, but only on the amount above that critical threshold. This led to additional changes. In 1973, the SEC demanded that the NYSE abolish fixed rates by May 1, 1975; Congress followed suit, writing this date into an amendment of the Securities Act.Robert Baldwin, the head of Morgan Stanley, dubbed the deadline “Mayday,” after the common code for distress. But May 1 came and went, and the world did not end. A year later, 11 underperforming brokerage houses had merged with competitors; nine more failed altogether. But this was a far cry from Baldwin’s prediction that up to 200 investment banks would go under.The benefits of competitive pricing, though, overwhelmingly went to the biggest institutional investors, with brokerage fees declining as much as 50 percent. Wealthy investors also managed to secure cut-rate commissions. Small investors initially saw their rates go up, largely because the big brokerage houses had no interest in dickering over fees for a tiny trade.But as fees rose for ordinary investors, this opened the door to yet another revolution: the proliferation of bare-bones discount brokers operating along the lines of Schwab. A decade after Mayday, the Wall Street Journal counted more than 600 discount operations luring away investors from conventional stock brokerages. This in turn helped fuel a democratization in stock market participation. As trading costs fell, more investors dabbled in the market, fueling yet more competition for their business.The advent of computerized trading platforms drove the decline in fees as well, but in reality, the key steps had been taken many years earlier, when the NYSE finally unleashed capitalist forces on their own brokers. Indeed, one researcher who has researched commission costs has tracked a long steady decline that dates back to 1975.And now we’re finally at zero: Trading is free. The revolution started by government regulators and Robert Haack has reached its inescapable conclusion.To contact the author of this story: Stephen Mihm at smihm1@bloomberg.netTo contact the editor responsible for this story: Stacey Shick at sshick@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Stephen Mihm, an associate professor of history at the University of Georgia, is a contributor to Bloomberg Opinion.For more articles like this, please visit us at bloomberg.com/opinion©2020 Bloomberg L.P.

  • 5 Reasons That Make Lakeland Financial Stock a Good Bet Now
    Zacks

    5 Reasons That Make Lakeland Financial Stock a Good Bet Now

    Revenue growth, earnings potential and strong balance sheet position reflect Lakeland Financial's (LKFN) upside potential.