Barclays Maintains an 'Overweight' on TD Ameritrade (AMTD); Lowering f1Q12E EPS on Weaker Volume

Barclays maintains an 'Overweight' on TD Ameritrade (NASDAQ: AMTD) price target of $20.00.

Barclays analyst says, "AMTD's November monthly metrics came in line with our expectations. Trading activity (DARTs) declined 7% sequentially (vs. 5%-10% decline estimate). Client assets were flat sequentially and IDA inflows continue to be quite robust. Model Implications: Given the slower QTD volumes vs. our prior expectations, including an expected seasonally weaker December, partially offset by better-than-expected IDA flows, we are lowering our f1Q12E EPS from $0.27 to $0.26. Our quarterly estimates for the balance of the year are unchanged, and our fy2012E EPS estimate declines by $0.01 to $1.19."

For an analyst ratings summary and ratings history on TD Ameritrade click here. For more ratings news on TD Ameritrade click here.

Shares of TD Ameritrade closed at $16.32 yesterday.

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