E*TRADE Financial Corp (NASDAQ:ETFC) insider Rodger A. Lawson bought 10,000 shares of the company’s stock in a transaction dated Monday, November 5th. The shares were acquired at an average price of $51.27 per share, for a total transaction of $512,700.00. Following the acquisition, the insider now owns 109,191 shares in the company, valued at approximately $5,598,222.57. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.
ETFC opened at $52.41 on Wednesday. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $12.99 billion, a PE ratio of 23.93, a P/E/G ratio of 0.80 and a beta of 1.09. E*TRADE Financial Corp has a 1 year low of $42.56 and a 1 year high of $66.46.
E*TRADE Financial (NASDAQ:ETFC) last posted its quarterly earnings results on Thursday, October 18th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.17. The firm had revenue of $720.00 million during 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 quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.49 EPS. Sell-side analysts forecast that E*TRADE Financial Corp will post 3.77 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Tuesday, October 30th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Monday, October 29th. E*TRADE Financial’s dividend payout ratio is presently 25.57%.
E*TRADE Financial declared that its board has initiated a stock repurchase program on Thursday, October 18th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 7.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.
Several institutional investors and hedge funds have recently bought and sold shares of ETFC. Picton Mahoney Asset Management raised its position in E*TRADE Financial by 26.3% in the 3rd quarter. Picton Mahoney Asset Management now owns 388,800 shares of the financial services provider’s stock worth $20,367,000 after buying an additional 81,000 shares during the last quarter. United Bank purchased a new position in E*TRADE Financial in the 3rd quarter worth about $230,000. Canandaigua National Bank & Trust Co. purchased a new position in E*TRADE Financial in the 3rd quarter worth about $709,000. Cadence Capital Management LLC purchased a new position in E*TRADE Financial in the 3rd quarter worth about $1,099,000. Finally, Gator Capital Management LLC purchased a new position in E*TRADE Financial in the 3rd quarter worth about $314,000. 91.30% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently commented on ETFC shares. Wells Fargo & Co restated a “buy” rating on shares of E*TRADE Financial in a report on Wednesday, July 11th. Morgan Stanley boosted their target price on shares of E*TRADE Financial from $74.00 to $78.00 and gave the company an “overweight” rating in a report on Thursday, July 12th. Raymond James dropped their target price on shares of E*TRADE Financial from $77.00 to $75.00 and set a “strong-buy” rating on the stock in a report on Friday, July 13th. ValuEngine cut shares of E*TRADE Financial from a “buy” rating to a “hold” rating in a report on Saturday, July 14th. Finally, Zacks Investment Research upgraded shares of E*TRADE Financial from a “hold” rating to a “buy” rating and set a $67.00 target price on the stock in a report on Monday, July 16th. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $65.00.
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About E*TRADE Financial
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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