Raymond James Financial Services Advisors Inc. raised its stake in shares of E*TRADE Financial Corp (NASDAQ:ETFC) by 8.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,352 shares of the financial services provider’s stock after buying an additional 863 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in E*TRADE Financial were worth $527,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Liberty Wealth Management LLC acquired a new stake in shares of E*TRADE Financial in the 4th quarter valued at $27,000. Oregon Public Employees Retirement Fund lifted its stake in shares of E*TRADE Financial by 1,689.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,499,423 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 1,415,639 shares during the last quarter. Arrow Financial Corp acquired a new stake in shares of E*TRADE Financial in the 1st quarter valued at $39,000. Bronfman E.L. Rothschild L.P. lifted its stake in shares of E*TRADE Financial by 32.0% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 915 shares of the financial services provider’s stock valued at $40,000 after purchasing an additional 222 shares during the last quarter. Finally, IFP Advisors Inc lifted its stake in shares of E*TRADE Financial by 93.0% in the 4th quarter. IFP Advisors Inc now owns 965 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 465 shares during the last quarter. 91.48% of the stock is owned by institutional investors and hedge funds.
In other E*TRADE Financial news, Director Rodger A. Lawson sold 41,322 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $48.13, for a total transaction of $1,988,827.86. Following the completion of the transaction, the director now owns 114,753 shares of the company’s stock, valued at approximately $5,523,061.89. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.20% of the stock is owned by insiders.
E*TRADE Financial stock opened at $45.31 on Friday. The firm has a market cap of $11.23 billion, a price-to-earnings ratio of 11.19, a PEG ratio of 0.96 and a beta of 1.24. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.24 and a quick ratio of 0.24. E*TRADE Financial Corp has a fifty-two week low of $40.41 and a fifty-two week high of $65.79.
E*TRADE Financial (NASDAQ:ETFC) last released its earnings results on Wednesday, April 17th. The financial services provider reported $1.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.16. The firm had revenue of $755.00 million during the quarter, compared to analyst estimates of $738.04 million. E*TRADE Financial had a net margin of 37.50% and a return on equity of 18.06%. The business’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.88 EPS. Equities analysts forecast that E*TRADE Financial Corp will post 4.36 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 13th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend was Friday, May 10th. E*TRADE Financial’s dividend payout ratio is 14.40%.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of E*TRADE Financial from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research note on Thursday, May 23rd. BidaskClub lowered shares of E*TRADE Financial from a “hold” rating to a “sell” rating in a research report on Friday, May 24th. Finally, Morgan Stanley boosted their target price on shares of E*TRADE Financial from $59.00 to $61.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $58.45.
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E*TRADE Financial 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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