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Barclays Stays Bullish on TD Ameritrade, Despite Soft August Trading Data (AMTD)

By Dividend.com September 14, 2012, 08:52:47 AM EDT

Online brokerage operator TD Ameritrade Holding Corp. ( AMTD ) on Friday caught some bullish sentiment from analysts at Barclays Capital.

The firm maintained its "Overweight" rating and $18 price target on AMTD, suggesting essentially zero upside to the stock's Thursday closing price of $17.72.

A Barclays analyst said brokerage data was "…softer than expected for the month, but client asset balances moved higher. Trading activity (DARTs) was down 8.7% sequentially, client assets moved higher by 2.6% during the month (presumably helped the increase in the market), and IDA balances finished 1.8% higher for August. We believe that while many of macro headwinds remain in place, we could see some improvement in Sept volumes given the release of some pent-up trading activity from a vacation-impacted August."

TD Ameritrade shares were mostly flat in premarket trading Friday.

The Bottom Line
Shares of TD Ameritrade ( AMTD ) have a 1.35% dividend yield, based on last night's closing stock price of $17.72. The stock has technical support in the $15-$16 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 3.2 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: AMTD



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