United Bank acquired a new position in shares of E*TRADE Financial Corp (NASDAQ:ETFC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,386 shares of the financial services provider’s stock, valued at approximately $230,000.
A number of other institutional investors have also recently added to or reduced their stakes in ETFC. Parallel Advisors LLC lifted its stake in E*TRADE Financial by 362.5% in the second quarter. Parallel Advisors LLC now owns 1,679 shares of the financial services provider’s stock valued at $102,000 after buying an additional 1,316 shares in the last quarter. Stratos Wealth Partners LTD. bought a new position in E*TRADE Financial in the third quarter valued at approximately $102,000. Nisa Investment Advisors LLC bought a new position in E*TRADE Financial in the second quarter valued at approximately $119,000. Qube Research & Technologies Ltd bought a new position in E*TRADE Financial in the second quarter valued at approximately $128,000. Finally, NewSquare Capital LLC bought a new position in E*TRADE Financial in the second quarter valued at approximately $163,000. 91.30% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have weighed in on ETFC shares. Wells Fargo & Co reaffirmed a “buy” rating on shares of E*TRADE Financial in a research note on Wednesday, July 11th. Morgan Stanley lifted their price target on shares of E*TRADE Financial from $74.00 to $78.00 and gave the company an “overweight” rating in a research note on Thursday, July 12th. Raymond James cut their price target on shares of E*TRADE Financial from $77.00 to $75.00 and set a “strong-buy” rating on the stock in a research note on Friday, July 13th. ValuEngine lowered shares of E*TRADE Financial from a “buy” rating to a “hold” rating in a research note on Saturday, July 14th. Finally, Zacks Investment Research raised shares of E*TRADE Financial from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a research note on Monday, July 16th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. E*TRADE Financial has an average rating of “Buy” and an average price target of $65.00.
In other news, insider Rodger A. Lawson bought 10,000 shares of the stock in a transaction that occurred on Monday, November 5th. The shares were acquired at an average cost of $51.27 per share, for a total transaction of $512,700.00. Following the completion of the acquisition, the insider now owns 109,191 shares in the company, valued at $5,598,222.57. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Rodger A. Lawson bought 5,000 shares of the stock in a transaction that occurred on Friday, November 2nd. The shares were purchased at an average price of $51.26 per share, for a total transaction of $256,300.00. Following the completion of the acquisition, the chairman now owns 109,191 shares of the company’s stock, valued at approximately $5,597,130.66. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 26,943 shares of company stock worth $1,385,765. 0.12% of the stock is owned by corporate insiders.
Shares of NASDAQ ETFC traded up $0.08 during midday trading on Wednesday, reaching $52.49. The company’s stock had a trading volume of 245,362 shares, compared to its average volume of 4,018,121. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.32. E*TRADE Financial Corp has a fifty-two week low of $42.56 and a fifty-two week high of $66.46. The company has a market capitalization of $12.99 billion, a PE ratio of 23.97, a price-to-earnings-growth ratio of 0.80 and a beta of 1.09.
E*TRADE Financial (NASDAQ:ETFC) last posted its quarterly earnings data on Thursday, October 18th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.17. E*TRADE Financial had a net margin of 32.83% and a return on equity of 15.45%. The company had revenue of $720.00 million for the quarter, compared to the consensus estimate of $710.62 million. During the same period last year, the company earned $0.49 earnings per share. The firm’s revenue was up 20.2% compared to the same quarter last year. As a group, sell-side analysts expect that E*TRADE Financial Corp will post 3.77 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Tuesday, October 30th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, October 29th. This represents a $0.56 dividend on an annualized basis and a yield of 1.07%. E*TRADE Financial’s payout ratio is 25.57%.
E*TRADE Financial declared that its Board of Directors has authorized a share buyback program on Thursday, October 18th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to repurchase up to 7.7% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.
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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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