Morgan Stanley Lowers TD Ameritrade (NASDAQ:AMTD) to Equal Weight

Morgan Stanley downgraded shares of TD Ameritrade (NASDAQ:AMTD) from an overweight rating to an equal weight rating in a report released on Thursday morning, BenzingaRatingsTable reports. Morgan Stanley currently has $53.00 price target on the financial services provider’s stock.

A number of other analysts have also weighed in on the stock. UBS Group reissued a sell rating on shares of in a report on Monday, June 24th. ValuEngine lowered shares of Wave Life Sciences from a strong-buy rating to a buy rating in a report on Monday, March 25th. Bank of America set a $180.00 price target on shares of CME Group and gave the company a hold rating in a report on Tuesday, April 9th. Zacks Investment Research lowered shares of Hope Bancorp from a strong-buy rating to a hold rating in a report on Tuesday, March 26th. Finally, Wolfe Research raised shares of TD Ameritrade from an underperform rating to a market perform rating in a report on Wednesday, March 27th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $58.86.

NASDAQ AMTD opened at $50.97 on Thursday. The firm has a market capitalization of $28.20 billion, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 0.78 and a beta of 1.14. The business’s 50 day moving average price is $50.69. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.42. TD Ameritrade has a 1-year low of $45.70 and a 1-year high of $60.99.

TD Ameritrade (NASDAQ:AMTD) last posted its quarterly earnings data on Tuesday, April 23rd. The financial services provider reported $0.93 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.93. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.46 billion. TD Ameritrade had a net margin of 34.94% and a return on equity of 26.73%. The company’s revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the business posted $0.73 earnings per share. Research analysts expect that TD Ameritrade will post 3.97 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in AMTD. Norges Bank bought a new position in TD Ameritrade in the fourth quarter valued at approximately $158,098,000. JPMorgan Chase & Co. boosted its stake in TD Ameritrade by 46.6% in the first quarter. JPMorgan Chase & Co. now owns 4,704,467 shares of the financial services provider’s stock valued at $235,175,000 after acquiring an additional 1,496,455 shares during the last quarter. BlackRock Inc. boosted its stake in TD Ameritrade by 7.2% in the first quarter. BlackRock Inc. now owns 15,155,722 shares of the financial services provider’s stock valued at $757,634,000 after acquiring an additional 1,012,753 shares during the last quarter. First Trust Advisors LP boosted its stake in TD Ameritrade by 24.7% in the first quarter. First Trust Advisors LP now owns 4,634,288 shares of the financial services provider’s stock valued at $231,668,000 after acquiring an additional 917,454 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in TD Ameritrade by 2,191.2% in the first quarter. Envestnet Asset Management Inc. now owns 527,398 shares of the financial services provider’s stock valued at $26,365,000 after acquiring an additional 504,380 shares during the last quarter. 92.03% of the stock is currently owned by hedge funds and other institutional investors.

About TD Ameritrade

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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