E*TRADE Financial (NASDAQ:ETFC) Reaches New 12-Month Low at $40.38

E*TRADE Financial Corp (NASDAQ:ETFC)’s stock price reached a new 52-week low on Wednesday . The stock traded as low as $40.38 and last traded at $41.03, with a volume of 178741 shares. The stock had previously closed at $41.90.

Several research firms have weighed in on ETFC. Raymond James set a $57.00 price target on E*TRADE Financial and gave the stock a “buy” rating in a research report on Friday, July 19th. Keefe, Bruyette & Woods boosted their price target on E*TRADE Financial from $53.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Morgan Stanley boosted their price target on E*TRADE Financial from $55.00 to $57.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 24th. BidaskClub lowered E*TRADE Financial from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, JMP Securities boosted their price target on E*TRADE Financial to $63.00 and gave the stock a “market perform” rating in a research report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $56.29.

The company has a debt-to-equity ratio of 0.28, a current ratio of 0.27 and a quick ratio of 0.27. The company has a 50 day moving average of $45.80. The firm has a market cap of $10.27 billion, a P/E ratio of 10.55, a P/E/G ratio of 0.93 and a beta of 1.15.

E*TRADE Financial (NASDAQ:ETFC) last issued its earnings results on Thursday, July 18th. The financial services provider reported $1.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.02. E*TRADE Financial had a return on equity of 18.44% and a net margin of 36.75%. The company had revenue of $685.00 million during the quarter, compared to the consensus estimate of $751.35 million. During the same period in the previous year, the company posted $0.95 EPS. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. On average, equities analysts expect that E*TRADE Financial Corp will post 4.16 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Monday, August 19th will be paid a dividend of $0.14 per share. The ex-dividend date is Friday, August 16th. This represents a $0.56 annualized dividend and a dividend yield of 1.38%. E*TRADE Financial’s dividend payout ratio is currently 14.40%.

E*TRADE Financial declared that its Board of Directors has approved a stock buyback program on Thursday, July 18th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the financial services provider to repurchase up to 12.9% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

In other news, Director Rodger A. Lawson sold 41,322 shares of E*TRADE Financial stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $48.13, for a total transaction of $1,988,827.86. Following the completion of the transaction, the director now directly owns 114,753 shares in the company, valued at approximately $5,523,061.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ETFC. Kavar Capital Partners LLC bought a new stake in E*TRADE Financial in the 2nd quarter valued at $31,000. Arrow Financial Corp bought a new stake in E*TRADE Financial in the 1st quarter valued at $39,000. Gemmer Asset Management LLC bought a new stake in E*TRADE Financial in the 2nd quarter valued at $42,000. FNY Investment Advisers LLC boosted its stake in E*TRADE Financial by 100.0% in the 2nd quarter. FNY Investment Advisers LLC now owns 1,000 shares of the financial services provider’s stock valued at $44,000 after purchasing an additional 500 shares during the period. Finally, Ossiam bought a new stake in E*TRADE Financial in the 2nd quarter valued at $44,000. Institutional investors and hedge funds own 91.71% of the company’s stock.

About E*TRADE Financial (NASDAQ:ETFC)

E*TRADE Financial Corporation, a financial services company, provides brokerage and related products and services for traders, investors, stock plan administrators and participants, and registered investment advisors (RIAs). It also offers investor-focused banking products, primarily sweep deposits to customers; clearing and settlement services; Federal Deposit Insurance Corporation insurance services; custody solutions to RIAs; other banking and cash management services; software and services for managing equity compensation plans to its corporate clients; retail futures transaction services; and investment advisory services.

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