E*TRADE Financial Corp (NASDAQ:ETFC) Chairman Rodger A. Lawson purchased 5,000 shares of the firm’s stock in a transaction on Friday, November 2nd. The stock was acquired at an average cost of $51.26 per share, with a total value of $256,300.00. Following the transaction, the chairman now directly owns 109,191 shares in the company, valued at $5,597,130.66. The purchase was disclosed in a filing with the SEC, which is available at this link.
E*TRADE Financial stock opened at $51.44 on Tuesday. The firm has a market cap of $12.99 billion, a PE ratio of 14.73, a PEG ratio of 0.80 and a beta of 1.09. E*TRADE Financial Corp has a 12-month low of $42.56 and a 12-month high of $66.46. 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 (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 Thomson Reuters’ consensus estimate of $0.83 by $0.17. The business had revenue of $720.00 million during the quarter, compared to analysts’ expectations of $710.62 million. E*TRADE Financial had a net margin of 32.83% and a return on equity of 15.45%. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.49 EPS. As a group, sell-side analysts forecast that E*TRADE Financial Corp will post 3.77 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Tuesday, October 30th will be given a dividend of $0.14 per share. The ex-dividend date is Monday, October 29th. This represents a $0.56 annualized dividend and a dividend yield of 1.09%. E*TRADE Financial’s dividend payout ratio (DPR) is currently 25.57%.
E*TRADE Financial announced that its board has initiated a stock buyback program on Thursday, October 18th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 7.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.
Several institutional investors have recently added to or reduced their stakes in ETFC. BlackRock Inc. raised its stake in E*TRADE Financial by 16.7% during the 2nd quarter. BlackRock Inc. now owns 25,360,724 shares of the financial services provider’s stock worth $1,551,060,000 after acquiring an additional 3,638,467 shares in the last quarter. FMR LLC raised its stake in E*TRADE Financial by 10.5% during the 2nd quarter. FMR LLC now owns 15,313,266 shares of the financial services provider’s stock worth $936,560,000 after acquiring an additional 1,452,296 shares in the last quarter. First Trust Advisors LP raised its stake in E*TRADE Financial by 23.3% during the 3rd quarter. First Trust Advisors LP now owns 4,659,032 shares of the financial services provider’s stock worth $244,087,000 after acquiring an additional 879,210 shares in the last quarter. Janus Henderson Group PLC raised its stake in E*TRADE Financial by 18.6% during the 2nd quarter. Janus Henderson Group PLC now owns 2,932,616 shares of the financial services provider’s stock worth $179,359,000 after acquiring an additional 460,318 shares in the last quarter. Finally, Voya Investment Management LLC raised its stake in E*TRADE Financial by 2,043.1% during the 2nd quarter. Voya Investment Management LLC now owns 2,921,063 shares of the financial services provider’s stock worth $178,653,000 after acquiring an additional 2,784,761 shares in the last quarter. 91.30% of the stock is owned by institutional investors and hedge funds.
Several brokerages have commented on ETFC. ValuEngine cut shares of E*TRADE Financial from a “buy” rating to a “hold” rating in a research report on Saturday, July 14th. BidaskClub raised shares of E*TRADE Financial from a “sell” rating to a “hold” rating in a research report on Saturday. Credit Suisse Group decreased their price target on shares of E*TRADE Financial from $79.00 to $77.00 and set an “outperform” rating for the company in a research report on Friday, July 20th. Zacks Investment Research raised shares of E*TRADE Financial from a “hold” rating to a “buy” rating and set a $67.00 price target for the company in a research report on Monday, July 16th. Finally, Wells Fargo & Co reissued a “buy” rating on shares of E*TRADE Financial in a research report on Wednesday, July 11th. Three research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price 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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