WEALTHFRONT Corp decreased its position in E*TRADE Financial Corp (NASDAQ:ETFC) by 52.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,704 shares of the financial services provider’s stock after selling 16,053 shares during the period. WEALTHFRONT Corp’s holdings in E*TRADE Financial were worth $770,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Stratos Wealth Partners LTD. acquired a new position in E*TRADE Financial in the 3rd quarter valued at approximately $102,000. First Interstate Bank acquired a new position in E*TRADE Financial in the 3rd quarter valued at approximately $122,000. Qube Research & Technologies Ltd acquired a new position in E*TRADE Financial in the 2nd quarter valued at approximately $128,000. Parallel Advisors LLC raised its holdings in E*TRADE Financial by 64.1% in the 3rd quarter. Parallel Advisors LLC now owns 2,755 shares of the financial services provider’s stock valued at $144,000 after acquiring an additional 1,076 shares in the last quarter. Finally, Zacks Investment Management acquired a new position in E*TRADE Financial in the 2nd quarter valued at approximately $200,000. 94.52% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on the company. BidaskClub upgraded E*TRADE Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 18th. Deutsche Bank lowered their price objective on E*TRADE Financial from $72.00 to $70.00 and set a “buy” rating on the stock in a research note on Wednesday, August 22nd. Wolfe Research assumed coverage on E*TRADE Financial in a research note on Tuesday, September 25th. They issued a “market perform” rating on the stock. Zacks Investment Research upgraded E*TRADE Financial from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research note on Tuesday, September 25th. Finally, Jefferies Financial Group upgraded E*TRADE Financial from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Wednesday, September 19th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. E*TRADE Financial presently has a consensus rating of “Buy” and an average price target of $64.12.
In other E*TRADE Financial news, insider Rodger A. Lawson purchased 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 5th. The shares were acquired at an average cost of $51.27 per share, for a total transaction of $512,700.00. Following the transaction, the insider now directly owns 109,191 shares in the company, valued at $5,598,222.57. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joshua Weinreich purchased 5,725 shares of the firm’s stock in a transaction that occurred on Tuesday, November 6th. The shares were acquired at an average price of $52.33 per share, for a total transaction of $299,589.25. Following the completion of the transaction, the director now owns 7,318 shares in the company, valued at $382,950.94. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 32,668 shares of company stock worth $1,685,354. 0.12% of the stock is owned by corporate insiders.
NASDAQ ETFC opened at $45.74 on Friday. The company has a market cap of $12.05 billion, a P/E ratio of 20.89, a price-to-earnings-growth ratio of 0.73 and a beta of 1.09. E*TRADE Financial Corp has a one year low of $45.50 and a one year high of $66.46. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.28 and a current ratio of 0.28.
E*TRADE Financial (NASDAQ:ETFC) last released its quarterly earnings results on Thursday, October 18th. The financial services provider reported $1.00 EPS for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.17. The business had revenue of $720.00 million for the quarter, compared to analyst estimates of $710.62 million. E*TRADE Financial had a return on equity of 15.45% and a net margin of 32.83%. E*TRADE Financial’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.49 EPS. Analysts forecast that E*TRADE Financial Corp will post 3.85 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Investors of record on Tuesday, October 30th were given a dividend of $0.14 per share. The ex-dividend date was Monday, October 29th. This represents a $0.56 dividend on an annualized basis and a yield of 1.22%. E*TRADE Financial’s dividend payout ratio (DPR) is presently 25.57%.
E*TRADE Financial announced that its board has approved a share buyback program on Thursday, October 18th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the financial services provider to repurchase up to 7.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
E*TRADE Financial Profile
E*TRADE Financial Corporation, a financial services company, provides brokerage and related products and services primarily to individual retail investors under the E*TRADE Financial brand. It also offers investor-focused banking products, primarily sweep deposits to retail investors; Federal Deposit Insurance Corporation insurance services; clearing and settlement services; investment advisory services; and financial corporate services, such as software and services for managing equity compensation plans to its corporate clients.
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