United Bank Sells 864 Shares of E*TRADE Financial Corp (NASDAQ:ETFC)

United Bank reduced its position in E*TRADE Financial Corp (NASDAQ:ETFC) by 13.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 5,666 shares of the financial services provider’s stock after selling 864 shares during the period. United Bank’s holdings in E*TRADE Financial were worth $253,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ETFC. Norges Bank bought a new stake in E*TRADE Financial in the 4th quarter valued at about $103,578,000. Thompson Siegel & Walmsley LLC increased its position in shares of E*TRADE Financial by 95.7% during the first quarter. Thompson Siegel & Walmsley LLC now owns 1,458,267 shares of the financial services provider’s stock valued at $67,708,000 after buying an additional 713,076 shares during the period. Clearbridge Investments LLC increased its position in shares of E*TRADE Financial by 221,128.4% during the first quarter. Clearbridge Investments LLC now owns 707,931 shares of the financial services provider’s stock valued at $32,869,000 after buying an additional 707,611 shares during the period. Boston Partners increased its position in shares of E*TRADE Financial by 13.9% during the first quarter. Boston Partners now owns 4,660,073 shares of the financial services provider’s stock valued at $216,367,000 after buying an additional 567,628 shares during the period. Finally, Clark Capital Management Group Inc. increased its position in shares of E*TRADE Financial by 2,066.6% during the second quarter. Clark Capital Management Group Inc. now owns 398,910 shares of the financial services provider’s stock valued at $17,791,000 after buying an additional 380,498 shares during the period. Institutional investors and hedge funds own 91.61% of the company’s stock.

Several brokerages have recently weighed in on ETFC. BidaskClub upgraded E*TRADE Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods upped their price target on E*TRADE Financial from $53.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Raymond James set a $57.00 price target on E*TRADE Financial and gave the company a “buy” rating in a research report on Friday, July 19th. Barclays upped their price target on E*TRADE Financial from $53.00 to $56.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Finally, Compass Point set a $52.00 price target on E*TRADE Financial and gave the company a “buy” rating in a research report on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $56.79.

Shares of ETFC stock traded down $1.68 during trading on Thursday, hitting $47.11. The company had a trading volume of 93,660 shares, compared to its average volume of 2,520,905. The company has a quick ratio of 0.24, a current ratio of 0.27 and a debt-to-equity ratio of 0.28. The business’s 50-day simple moving average is $46.31. The firm has a market cap of $11.98 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 1.08 and a beta of 1.15. E*TRADE Financial Corp has a 52 week low of $40.41 and a 52 week high of $61.87.

E*TRADE Financial (NASDAQ:ETFC) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.02. The company had revenue of $685.00 million for the quarter, compared to analysts’ expectations of $751.35 million. E*TRADE Financial had a net margin of 36.75% and a return on equity of 18.44%. E*TRADE Financial’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.95 earnings per share. On average, research analysts anticipate that E*TRADE Financial Corp will post 4.17 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Investors of record on Monday, August 19th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Friday, August 16th. E*TRADE Financial’s dividend payout ratio (DPR) is 14.40%.

E*TRADE Financial announced that its Board of Directors has initiated a stock buyback program on Thursday, July 18th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the financial services provider to buy up to 12.9% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

In related news, Director Rodger A. Lawson sold 41,322 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $48.13, for a total value of $1,988,827.86. Following the transaction, the director now directly owns 114,753 shares in the company, valued at $5,523,061.89. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.20% of the stock is currently owned by corporate insiders.

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

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