TD Ameritrade Holding Corporation
) attained a new 52-week high, touching $22.00 on May 10. The
closing price of this online brokerage firm reflects a solid
year-to-date return of 27.6%. The trading volume for the session
was 5.3 million shares, compared with an average 3-month volume
of 3.4 million
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Despite hitting its 52-week high, this Zacks Rank #3 (Hold) stock
still has plenty of upside left, given its strong estimate
revisions over the last 60 days as well as expected
year-over-year earnings growth of 12.2% for 2013.
Higher Daily Average Revenue Trades (DARTs), reflecting a rise in
trading volumes in the equity markets, as well as impressive
fiscal second-quarter 2013 results - including lower expenses, a
healthy balance sheet and solid capital position - have been the
primary growth drivers for TD Ameritrade.
On May 9, the company reported higher U.S. trades in its Activity
Report for the month of Apr 2013. Moreover, on a year-over-year
basis, the U.S. trades were up 4%. DARTs were 383,000, compared
with 361,000 in the prior month.
Moreover, on Apr 18, TD Ameritrade's fiscal second-quarter 2013
earnings came in at 26 cents per share, up from 25 cents in the
year-ago quarter. However, reported earnings were in line with
the Zacks Consensus Estimate.
Results for the quarter reflected a rise in revenues and a fall
in operating expenses. Further, an increase in total client
assets was a positive.
Additionally, TD Ameritrade has delivered positive earnings
surprises for 3 out of the last 4 quarters with an average beat
Estimate Revisions Show Potency
For TD Ameritrade, over the last 60 days, 5 of the 14 estimates
for 2013 have been revised upward, raising the Zacks Consensus
Estimate by 1.8% to $1.11 per share. For 2014, 3 of the 14
estimates moved upwards over the same time frame.
Better performing financial stocks include
American National Bankshares Inc.
), all of which carry a Zacks Rank #1 (Strong Buy).