Financial services and brokerage company, TD Ameritrade Holding Corp.(AMTD) reported a decline in profit for the first quarter, but beat analysts estimates on Tuesday.
The Omaha, NE based company reported first quarter earnings of $147 million, or 27 cents per share, down 3% from $152 million, or 27 cents per share last year. Analysts expected to see EPS of 24 cents for the quarter.
AMTD reported revenue of $651 million for the quarter, down slightly from $653 million last year, and missing estimates of $632.48 million.
During the quarter, AMTD obtained $16 billion worth of new client assets, accounting for a 13% growth for the year, and a 50% increase from last years first quarter.
The company also announced that they will be paying their 9 cent quarterly dividend on February 15 to stockholders of record on February 1.
TD Ameritrade shares were mostly flat during premarket trading Tuesday. The stock has declined -1.2% in the past year.
The Bottom Line
Shares of TD Ameritrade (AMTD) have a 1.95% dividend yield, based on Friday’s closing stock price of $18.45. The stock has technical support in the $16-$17 price area. If the shares can firm up, we see overhead resistance around the $19-$20 price levels.
TD Ameritrade Holding Corp.(AMTD) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.