TD BANK $56.17 (Toronto symbol TD; Shares outstanding: 1.9 billion; Market cap: $104.2 billion; TSINetwork Rating: Above Average; Dividend yield: 3.9%; www.td.com) owns 42.15% of TD Ameritrade Holding Corp. (Nasdaq symbol AMTD), one of the largest online brokerage firms in the U.S.
TD now expects Ameritrade to contribute $124 million (Cdn.) to its earnings for the 2016 third quarter, ended July 31, 2016. That’s a gain of 34.8% from $92 million a year earlier. To put those figures in perspective, TD earned $2.3 billion, or $1.20 a share, in the quarter ended April 30, 2016.
Ameritrade’s average daily trading volumes rose 6.5% in the second quarter. As well, revenue from commissions and transaction fees increased 5.8%.
TD Bank is a buy.