W.G. Shaheen & Associates DBA Whitney & Co raised its holdings in shares of E*TRADE Financial Corp (NASDAQ:ETFC) by 1.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 130,429 shares of the financial services provider’s stock after buying an additional 2,173 shares during the quarter. E*TRADE Financial comprises 1.3% of W.G. Shaheen & Associates DBA Whitney & Co’s investment portfolio, making the stock its 28th largest holding. W.G. Shaheen & Associates DBA Whitney & Co owned approximately 0.05% of E*TRADE Financial worth $5,817,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kavar Capital Partners LLC bought a new stake in shares of E*TRADE Financial during the second quarter valued at approximately $31,000. Arrow Financial Corp bought a new stake in shares of E*TRADE Financial during the first quarter valued at approximately $39,000. FNY Investment Advisers LLC increased its position in shares of E*TRADE Financial by 100.0% during the second 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. Amica Retiree Medical Trust bought a new stake in shares of E*TRADE Financial during the second quarter valued at approximately $46,000. Finally, Farmers National Bank bought a new stake in shares of E*TRADE Financial during the first quarter valued at approximately $52,000. Institutional investors and hedge funds own 91.88% of the company’s stock.
NASDAQ:ETFC traded down $0.92 during trading hours on Friday, reaching $40.39. The company had a trading volume of 1,424,374 shares, compared to its average volume of 2,591,127. The stock has a 50-day moving average of $45.13 and a two-hundred day moving average of $47.06. E*TRADE Financial Corp has a one year low of $40.02 and a one year high of $60.07. The firm has a market capitalization of $10.06 billion, a PE ratio of 10.38, a PEG ratio of 0.91 and a beta of 1.15. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.28.
E*TRADE Financial (NASDAQ:ETFC) last announced its earnings results on Thursday, July 18th. The financial services provider reported $1.12 EPS for the quarter, topping the consensus estimate of $1.10 by $0.02. The company had revenue of $685.00 million for the quarter, compared to analysts’ expectations of $751.35 million. E*TRADE Financial had a return on equity of 18.44% and a net margin of 36.75%. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.95 earnings per share. As a group, sell-side analysts expect that E*TRADE Financial Corp will post 4.14 earnings per share for the current 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 issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.39%. The ex-dividend date is Friday, August 16th. E*TRADE Financial’s payout ratio is presently 14.40%.
E*TRADE Financial announced that its Board of Directors has approved a stock repurchase program on Thursday, July 18th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the financial services provider to buy up to 12.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
A number of analysts have weighed in on ETFC shares. BidaskClub cut E*TRADE Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Credit Suisse Group set a $57.00 price target on E*TRADE Financial and gave the company a “buy” rating in a research report on Friday, July 19th. JMP Securities upped their price target on E*TRADE Financial to $63.00 and gave the company a “market perform” rating in a research report on Friday, July 19th. Raymond James set a $57.00 price target on E*TRADE Financial and gave the company a “buy” rating in a research report on Friday, July 19th. Finally, Compass Point set a $52.00 price target on E*TRADE Financial and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the stock. E*TRADE Financial presently has a consensus rating of “Buy” and a consensus price target of $56.14.
About E*TRADE Financial
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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