Wedbush Securities Inc. acquired a new stake in E*TRADE Financial Corp (NASDAQ:ETFC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,762 shares of the financial services provider’s stock, valued at approximately $212,000.
Other hedge funds have also recently bought and sold shares of the company. Riverhead Capital Management LLC boosted its holdings in shares of E*TRADE Financial by 34.7% in the first quarter. Riverhead Capital Management LLC now owns 125,556 shares of the financial services provider’s stock valued at $5,830,000 after acquiring an additional 32,361 shares during the period. Trexquant Investment LP raised its stake in shares of E*TRADE Financial by 124.9% during the first quarter. Trexquant Investment LP now owns 161,218 shares of the financial services provider’s stock worth $7,485,000 after purchasing an additional 89,518 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of E*TRADE Financial during the first quarter worth approximately $2,628,000. Parametric Portfolio Associates LLC raised its stake in shares of E*TRADE Financial by 11.0% during the first quarter. Parametric Portfolio Associates LLC now owns 754,063 shares of the financial services provider’s stock worth $35,011,000 after purchasing an additional 74,842 shares during the last quarter. Finally, Kennedy Capital Management Inc. raised its stake in shares of E*TRADE Financial by 13.3% during the first quarter. Kennedy Capital Management Inc. now owns 85,896 shares of the financial services provider’s stock worth $3,988,000 after purchasing an additional 10,057 shares during the last quarter. 91.88% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts have recently commented on the company. Zacks Investment Research cut E*TRADE Financial from a “buy” rating to a “hold” rating in a research note on Friday, May 24th. Raymond James set a $57.00 price target on E*TRADE Financial and gave the stock a “buy” rating in a research note on Friday, July 19th. Credit Suisse Group set a $57.00 price target on E*TRADE Financial and gave the stock a “buy” rating in a research note on Friday, July 19th. Morgan Stanley upped their price target on E*TRADE Financial from $55.00 to $57.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Finally, Deutsche Bank cut E*TRADE Financial from a “buy” rating to a “hold” rating and cut their price target for the stock from $52.00 to $45.00 in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $56.29.
NASDAQ:ETFC traded down $0.17 during trading hours on Tuesday, hitting $41.34. The company’s stock had a trading volume of 27,186 shares, compared to its average volume of 2,622,075. The business’s 50-day moving average is $45.36 and its two-hundred day moving average is $47.14. The company has a market capitalization of $10.05 billion, a PE ratio of 10.65, a PEG ratio of 0.91 and a beta of 1.15. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.27 and a current ratio of 0.27. E*TRADE Financial Corp has a 52-week low of $40.02 and a 52-week high of $61.55.
E*TRADE Financial (NASDAQ:ETFC) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.02. The firm had revenue of $685.00 million during 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%. E*TRADE Financial’s revenue was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.95 earnings per share. As a group, analysts predict that E*TRADE Financial Corp will post 4.14 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Shareholders of record on Monday, August 19th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.35%. The ex-dividend date is Friday, August 16th. E*TRADE Financial’s payout ratio is 14.40%.
E*TRADE Financial declared that its board has initiated a stock buyback program on Thursday, July 18th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the financial services provider to buy up to 12.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
E*TRADE Financial Company Profile
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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