The lack of clarity around the assets held in E*Trade's (ETFC.O) mortgage portfolio and the high price that the U.S. online broker might fetch make it unlikely that Toronto-Dominion Bank (TD.TO) would take part in any deal to purchase the firm. TD, Canada's No. 2 lender, owns a stake of around 45 percent in U.S. discount broker TD Ameritrade (AMTD.O), which some analysts have said is a likely candidate to buy E*Trade. TD Ameritrade has already poured cold water on that idea, saying it cannot see obvious merit in any such deal, but has not ruled it out completely. "From a TD perspective, what we would need to get our minds around is the assets that sit in that entity," Mike Pedersen, head of wealth management and insurance at the bank, said at a conference held by Canadian Imperial Bank of Commerce on Wednesday.
E*TRADE Financial Corporation (E*TRADE) is a financial services company, which provides online brokerage and related products and services to the individual retail investors, under the brand E*TRADE Financial. Shares of ETFC fell by 4.21% or $-0.45/share to $10.25. In the past year, the shares have traded as low as $9.90 and as high as $18.13. On average, 7603130 shares of ETFC exchange hands on a given day and today's volume is recorded at 4874454.
Shares of TD fell by 2.84% or $-2.1/share to $71.85. In the past year, the shares have traded as low as $69.33 and as high as $89.79. On average, 941106 shares of TD exchange hands on a given day and today's volume is recorded at 1020901.
TD Ameritrade Holding Corporation (TD Ameritrade) is a provider of securities brokerage services and technology-based financial services to retail investors, traders and independent registered investment advisors (RIAs). Shares of AMTD fell by 3.41% or $-0.5/share to $14.15. In the past year, the shares have traded as low as $13.43 and as high as $22.90. On average, 5924860 shares of AMTD exchange hands on a given day and today's volume is recorded at 4897759.
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