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MarketScreener Homepage  >  Equities  >  Nasdaq  >  TD Ameritrade Holding Corporation    AMTD

TD AMERITRADE HOLDING CORPORATION

(AMTD)
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Fidelity follows rivals in cutting online trading commissions to zero

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10/10/2019 | 01:43pm EDT
FILE PHOTO: A sign marks a Fidelity Investments office in Boston

(Reuters) - Fidelity Investments on Thursday eliminated commissions on online trades of U.S. stocks, exchange traded funds (ETFs) and options, becoming the latest brokerage to cut trading fees to compete with new entrants in the market.

Last week, rivals Charles Schwab Corp, TD Ameritrade and E*Trade Financial also stopped charging commissions on online trades.

Since then, Charles Schwab shares have fallen nearly 4%, Ameritrade 1.4%, while E*Trade has risen nearly 6%.

Newer rivals such as Menlo Park, California-based startup brokerage Robinhood have been capturing market share in recent years by offering commission-free stock trades, forcing traditional brokerages to follow suit.

The firms are able to offer the free trading by pushing their customers' orders to so-called wholesale market makers, such as Citadel Securities and Virtu Financial, which aim to make a profit on the spread between the bid and the offer on the shares.

Fidelity said the change will take effect on Thursday for individual investors and Nov. 4 for investment advisers.

(Reporting by C Nivedita in Bengaluru; Editing by Saumyadeb Chakrabarty)

Stocks mentioned in the article
ChangeLast1st jan.
E*TRADE FINANCIAL CORPORATION 4.64% 40.85 Delayed Quote.-11.03%
TD AMERITRADE HOLDING CORPORATION 1.27% 36.79 Delayed Quote.-25.80%
VIRTU FINANCIAL, INC. 1.48% 17.11 Delayed Quote.-34.55%
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Financials (USD)
Sales 2019 5 924 M
EBIT 2019 2 915 M
Net income 2019 2 162 M
Debt 2019 476 M
Yield 2019 3,32%
P/E ratio 2019 9,38x
P/E ratio 2020 13,7x
EV / Sales2019 3,44x
EV / Sales2020 4,27x
Capitalization 19 928 M
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Technical analysis trends TD AMERITRADE HOLDING CORP
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TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
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Mean consensus HOLD
Number of Analysts 20
Average target price 36,56  $
Last Close Price 36,33  $
Spread / Highest target 43,1%
Spread / Average Target 0,63%
Spread / Lowest Target -25,7%
EPS Revisions
Managers
NameTitle
Timothy D. Hockey President, Chief Executive Officer & Director
Joseph Hugh Moglia Chairman
Stephen J. Boyle CFO, Principal Accounting Officer & Executive VP
Vijay Sankaran Chief Information Officer
Allan R. Tessler Independent Director
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