NEW YORK ( TheStreet) -- TD Ameritrade ( AMTD) reported a net income of $145 million, or 25 cents per diluted share, and net revenues of $656 million in its fiscal first quarter earnings.

The report was in line with analysts expectations of 25 cents per share on sales of $648 million.

The firm's stock closed down 24 cents at $20.65 Friday.

TD Ameritrade also reported net new client assets of $9.7 billion, up 11 percent from last year. However, average client trades per day were down two percent at 372,000.

During the first quarter the brokerage repurchased 3.2 million in shares at $15.94 for $50 million. In addition the company announed a dividend of 5 cents a share will be paid out to shareholders on February 15, 2011.

"Our strong cash position enabled us to effectively return 55 percent of our net income to shareholders through a share buyback and recently announced quarterly dividend," said TD Ameritrade CFO Bill Gerber in a press release.

--Written by Maria Woehr in New York.

To contact the writer of this article, click here: Maria Woehr.

To follow the writer on Twitter, go to http://twitter.com/newsgirlmw.

To submit a news tip, send an email to: tips@thestreet.com.

If you liked this article you might like

Using Twitter to Trade Stocks

Using Twitter to Trade Stocks

Video: TD Ameritrade Brings Stock Trading to Twitter

Video: TD Ameritrade Brings Stock Trading to Twitter

Verizon and Yahoo! Sports Bring Super Bowl LII to the Small Screen

Verizon and Yahoo! Sports Bring Super Bowl LII to the Small Screen

Healthcare Panic May Be Overblow; Cryptocurrency Trading Volumes Dip -- ICYMI

Healthcare Panic May Be Overblow; Cryptocurrency Trading Volumes Dip -- ICYMI

Bitcoin Today: Price Predictions Get Bold, Nasdaq Considers New Futures Market

Bitcoin Today: Price Predictions Get Bold, Nasdaq Considers New Futures Market