NEW YORK (TheStreet) -- Shares of TD Ameritrade (AMTD) - Get Report were gaining 5.61% to $34.61 on heavy trading volume late Thursday morning as the company is interested in acquiring rival online brokerage Scottrade Financial Services, Bloomberg reported, citing sources.
Scottrade is working with an adviser to explore a sale and a deal may value the company at about $4 billion, sources added.
No final decisions have been made and an agreement may not be reached, Bloomberg noted.
More than 5.16 million of TD Ameritrade's shares changed hands so far today vs. its average volume of 2.13 million shares per day.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B on the stock.
The company's strengths can be seen in multiple areas, such as its revenue growth, growth in earnings per share, increase in net income, expanding profit margins and notable return on equity.
The team believes its strengths outweigh the fact that the company shows weak operating cash flow.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: AMTD