E*TRADE Financial Corp (NASDAQ:ETFC) Director Joshua Weinreich purchased 5,725 shares of the business’s stock in a transaction on Tuesday, November 6th. The stock was acquired at an average cost of $52.33 per share, with a total value of $299,589.25. Following the completion of the acquisition, the director now directly owns 7,318 shares in the company, valued at approximately $382,950.94. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
E*TRADE Financial stock traded up $0.62 during mid-day trading on Monday, hitting $52.91. 2,584,854 shares of the company were exchanged, compared to its average volume of 2,767,138. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.28 and a quick ratio of 0.28. E*TRADE Financial Corp has a 1-year low of $45.97 and a 1-year high of $66.46. The firm has a market capitalization of $13.29 billion, a P/E ratio of 24.16, a P/E/G ratio of 0.80 and a beta of 1.09.
E*TRADE Financial (NASDAQ:ETFC) last released its quarterly earnings data 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. E*TRADE Financial had a return on equity of 15.45% and a net margin of 32.83%. The firm had revenue of $720.00 million during the quarter, compared to analyst estimates of $710.62 million. During the same period in the prior year, the company posted $0.49 earnings per share. The business’s revenue for the quarter was up 20.2% compared to the same quarter last year. On average, equities research analysts predict that E*TRADE Financial Corp will post 3.85 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Tuesday, October 30th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Monday, October 29th. This represents a $0.56 annualized dividend and a yield of 1.06%. E*TRADE Financial’s dividend payout ratio is currently 25.57%.
Several research firms have issued reports on ETFC. Goldman Sachs Group initiated coverage on E*TRADE Financial in a report on Friday. They set a “buy” rating and a $64.00 price objective on the stock. Deutsche Bank dropped their price objective on E*TRADE Financial from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Friday, November 16th. Credit Suisse Group restated an “outperform” rating on shares of E*TRADE Financial in a report on Thursday, November 15th. Morgan Stanley dropped their price objective on E*TRADE Financial from $69.00 to $66.00 and set a “buy” rating on the stock in a report on Wednesday, November 14th. Finally, BidaskClub raised E*TRADE Financial from a “sell” rating to a “hold” rating in a research report on Saturday, November 3rd. Three analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $64.12.
Several large investors have recently made changes to their positions in ETFC. BlackRock Inc. increased its stake in shares of E*TRADE Financial by 16.7% in the second quarter. BlackRock Inc. now owns 25,360,724 shares of the financial services provider’s stock valued at $1,551,060,000 after buying an additional 3,638,467 shares in the last quarter. Voya Investment Management LLC increased its stake in shares of E*TRADE Financial by 2,043.1% in the second quarter. Voya Investment Management LLC now owns 2,921,063 shares of the financial services provider’s stock valued at $178,653,000 after buying an additional 2,784,761 shares in the last quarter. FMR LLC boosted its holdings in E*TRADE Financial by 10.5% in the second quarter. FMR LLC now owns 15,313,266 shares of the financial services provider’s stock valued at $936,560,000 after acquiring an additional 1,452,296 shares during the last quarter. Calamos Advisors LLC bought a new position in E*TRADE Financial in the second quarter valued at about $64,217,000. Finally, Canada Pension Plan Investment Board boosted its holdings in E*TRADE Financial by 2,093.8% in the third quarter. Canada Pension Plan Investment Board now owns 923,440 shares of the financial services provider’s stock valued at $48,379,000 after acquiring an additional 881,347 shares during the last quarter. Institutional investors own 94.52% of the company’s stock.
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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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