SunTrust Robinson Humphrey Reiterates Buy as TD Ameritrade (AMTD) Announces Scottrade Acquisition

TD Ameritrade Reports Record 2016 Earnings

October 24, 2016 6:30 AM EDT

Record Diluted Earnings per Share of $1.58, up 6% Year-Over-Year

Record Net Revenues of $3.3B, up 2% Year-Over-Year

Net New Client Assets of $60B, 9% Annualized Growth Rate

OMAHA, Neb.--(BUSINESS WIRE)-- TD Ameritrade Holding Corporation (Nasdaq: AMTD) has released results for fiscal year 2016. The Company generated record earnings and a record $1.58 per diluted share, driven by strong organic growth.

The Companys results for the fiscal year ended Sept. 30, 2016 include the following: (1)

Record $1.58 in earnings per diluted share, on net income... More

TD Ameritrade to Acquire Scottrade

October 24, 2016 6:00 AM EDT

Transaction adds scale and solidifies TD Ameritrades leadership position

12-15% EPS accretion expected in Years 2 and 3 (GAAP basis),3 15-20% on an adjusted basis4

Enables delivery of broader trading and investing experience to 3.1 million client accounts

Significantly expands service and distribution footprint, further accelerating asset gathering capabilities

Scottrade Founder and CEO Rodger Riney to receive seat on TD Ameritrade Board of Directors

Conference Call with management today at 8:30 a.m. EDT

... More

TD Bank Group to acquire Scottrade Bank

October 24, 2016 6:00 AM EDT

TORONTO, Oct. 24, 2016 /PRNewswire/ - TD Bank Group (TD) (TSX and NYSE: TD) today announced an agreement to acquire Scottrade Bank, a federal savings bank wholly owned by Scottrade Financial Services, Inc. (Scottrade), for cash consideration equal to the tangible book value of Scottrade Bank at closing, subject to certain adjustments.  Under the terms of the proposed acquisition, Scottrade Bank will merge with TD Bank, N. A. As of September 30, 2016, Scottrade Bank's tangible book value was approximately US$1.3 billion and it held approximately US$13 billion in cash and securities, US$4... More