Columbus Circle Investors Takes Position in E*TRADE Financial Corp (ETFC)

Columbus Circle Investors purchased a new stake in shares of E*TRADE Financial Corp (NASDAQ:ETFC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 553,810 shares of the financial services provider’s stock, valued at approximately $24,152,000. Columbus Circle Investors owned approximately 0.21% of E*TRADE Financial as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Advisors Asset Management Inc. boosted its holdings in E*TRADE Financial by 80.8% in the second quarter. Advisors Asset Management Inc. now owns 3,239 shares of the financial services provider’s stock worth $123,000 after purchasing an additional 1,448 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in shares of E*TRADE Financial by 21.8% during the 2nd quarter. Quadrant Capital Group LLC now owns 3,436 shares of the financial services provider’s stock worth $121,000 after acquiring an additional 614 shares during the last quarter. Krilogy Financial LLC boosted its stake in shares of E*TRADE Financial by 7.5% during the 2nd quarter. Krilogy Financial LLC now owns 3,710 shares of the financial services provider’s stock worth $141,000 after acquiring an additional 260 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new position in shares of E*TRADE Financial during the 3rd quarter worth $234,000. Finally, Greenwood Capital Associates LLC purchased a new position in shares of E*TRADE Financial during the 3rd quarter worth $229,000. 94.32% of the stock is owned by institutional investors.

ETFC has been the topic of several analyst reports. Barclays initiated coverage on shares of E*TRADE Financial in a research note on Friday, September 8th. They set an “overweight” rating and a $45.00 price target on the stock. SunTrust Banks reiterated a “buy” rating and set a $50.00 price target on shares of E*TRADE Financial in a research note on Monday, September 18th. Zacks Investment Research cut shares of E*TRADE Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, September 20th. Bank of America upgraded shares of E*TRADE Financial from a “neutral” rating to a “buy” rating and lifted their target price for the company from $44.00 to $49.00 in a research note on Monday, October 9th. Finally, Wells Fargo & Company lifted their target price on shares of E*TRADE Financial from $49.00 to $51.00 and gave the company an “outperform” rating in a research note on Friday, October 20th. Six analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. E*TRADE Financial presently has an average rating of “Buy” and an average target price of $47.40.

E*TRADE Financial Corp (ETFC) traded up $1.65 during trading on Monday, hitting $50.54. 3,952,821 shares of the stock were exchanged, compared to its average volume of 2,703,203. E*TRADE Financial Corp has a 12-month low of $32.25 and a 12-month high of $50.90. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.27 and a current ratio of 0.27. The company has a market cap of $13,102.25, a P/E ratio of 24.69, a PEG ratio of 1.73 and a beta of 1.45.

E*TRADE Financial (NASDAQ:ETFC) last posted its earnings results on Thursday, October 19th. The financial services provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. E*TRADE Financial had a net margin of 27.35% and a return on equity of 9.34%. The firm had revenue of $599.00 million for the quarter, compared to the consensus estimate of $598.96 million. During the same period in the previous year, the firm posted $0.51 EPS. The business’s quarterly revenue was up 23.3% on a year-over-year basis. sell-side analysts forecast that E*TRADE Financial Corp will post 2.26 earnings per share for the current year.

In related news, insider Michael John Curcio sold 33,474 shares of E*TRADE Financial stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $40.38, for a total transaction of $1,351,680.12. Following the completion of the transaction, the insider now directly owns 267,151 shares of the company’s stock, valued at approximately $10,787,557.38. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Karl A. Roessner sold 8,578 shares of E*TRADE Financial stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $40.49, for a total transaction of $347,323.22. Following the transaction, the chief executive officer now directly owns 225,731 shares of the company’s stock, valued at $9,139,848.19. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by insiders.

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E*TRADE Financial Profile

E*Trade Financial Corporation is a financial services company. The Company provides online brokerage and related products and services primarily to individual retail investors under the brand E*TRADE Financial. The Company also provides investor-focused banking products, primarily sweep deposits, to retail investors.

Institutional Ownership by Quarter for E*TRADE Financial (NASDAQ:ETFC)

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