E*TRADE Financial Corp (ETFC) Position Decreased by Otter Creek Advisors LLC

Otter Creek Advisors LLC reduced its stake in shares of E*TRADE Financial Corp (NASDAQ:ETFC) by 11.1% during the first quarter, HoldingsChannel reports. The firm owned 141,044 shares of the financial services provider’s stock after selling 17,643 shares during the period. E*TRADE Financial accounts for about 1.7% of Otter Creek Advisors LLC’s portfolio, making the stock its 15th biggest position. Otter Creek Advisors LLC’s holdings in E*TRADE Financial were worth $7,816,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Blackhawk Capital Partners LLC. raised its stake in shares of E*TRADE Financial by 81.4% during the first quarter. Blackhawk Capital Partners LLC. now owns 1,805 shares of the financial services provider’s stock valued at $100,000 after purchasing an additional 810 shares in the last quarter. United Capital Financial Advisers LLC raised its position in E*TRADE Financial by 15.1% in the first quarter. United Capital Financial Advisers LLC now owns 6,926 shares of the financial services provider’s stock worth $384,000 after acquiring an additional 911 shares in the last quarter. Terra Nova Asset Management LLC raised its position in E*TRADE Financial by 6.3% in the fourth quarter. Terra Nova Asset Management LLC now owns 20,886 shares of the financial services provider’s stock worth $1,035,000 after acquiring an additional 1,235 shares in the last quarter. Vident Investment Advisory LLC raised its position in E*TRADE Financial by 2.0% in the fourth quarter. Vident Investment Advisory LLC now owns 64,560 shares of the financial services provider’s stock worth $3,489,000 after acquiring an additional 1,257 shares in the last quarter. Finally, Norinchukin Bank The raised its position in E*TRADE Financial by 10.9% in the fourth quarter. Norinchukin Bank The now owns 13,570 shares of the financial services provider’s stock worth $673,000 after acquiring an additional 1,329 shares in the last quarter. Institutional investors and hedge funds own 93.29% of the company’s stock.

E*TRADE Financial opened at $64.88 on Thursday, according to MarketBeat Ratings. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.27 and a current ratio of 0.27. The stock has a market cap of $17.02 billion, a price-to-earnings ratio of 29.63, a P/E/G ratio of 1.07 and a beta of 1.27. E*TRADE Financial Corp has a 1 year low of $36.09 and a 1 year high of $66.46.

E*TRADE Financial (NASDAQ:ETFC) last posted its quarterly earnings data on Thursday, April 19th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.09. The firm had revenue of $708.00 million for the quarter, compared to the consensus estimate of $686.31 million. E*TRADE Financial had a return on equity of 11.64% and a net margin of 28.40%. The business’s revenue for the quarter was up 28.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.48 EPS. sell-side analysts expect that E*TRADE Financial Corp will post 3.64 earnings per share for the current year.

ETFC has been the topic of several research reports. Morgan Stanley set a $74.00 price target on shares of E*TRADE Financial and gave the stock a “buy” rating in a research report on Wednesday, April 25th. Sanford C. Bernstein initiated coverage on shares of E*TRADE Financial in a research report on Monday, April 9th. They issued an “outperform” rating and a $67.00 price target on the stock. ValuEngine upgraded shares of E*TRADE Financial from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Deutsche Bank boosted their price target on shares of E*TRADE Financial from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Friday, April 6th. Finally, Zacks Investment Research upgraded shares of E*TRADE Financial from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research report on Tuesday, April 3rd. Two research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $61.17.

E*TRADE Financial Profile

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.

Want to see what other hedge funds are holding ETFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for E*TRADE Financial Corp (NASDAQ:ETFC).

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

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