Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in shares of E*TRADE Financial Corp (NASDAQ:ETFC) by 36.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,116 shares of the financial services provider’s stock after selling 39,480 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in E*TRADE Financial were worth $3,569,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Stratos Wealth Partners LTD. purchased a new position in E*TRADE Financial during the 3rd quarter valued at about $102,000. Nisa Investment Advisors LLC purchased a new position in E*TRADE Financial during the 2nd quarter valued at about $119,000. First Interstate Bank purchased a new position in E*TRADE Financial during the 3rd quarter valued at about $122,000. Qube Research & Technologies Ltd purchased a new position in shares of E*TRADE Financial in the 2nd quarter valued at about $128,000. Finally, Parallel Advisors LLC boosted its stake in shares of E*TRADE Financial by 64.1% in the 3rd quarter. Parallel Advisors LLC now owns 2,755 shares of the financial services provider’s stock valued at $144,000 after buying an additional 1,076 shares during the period. Institutional investors own 94.66% of the company’s stock.
Shares of NASDAQ ETFC opened at $52.29 on Friday. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32. E*TRADE Financial Corp has a fifty-two week low of $45.97 and a fifty-two week high of $66.46. The stock has a market cap of $13.29 billion, a PE ratio of 23.88, a price-to-earnings-growth ratio of 0.80 and a beta of 1.09.
E*TRADE Financial announced that its Board of Directors has authorized a stock repurchase program on Thursday, October 18th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the financial services provider to reacquire up to 7.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Tuesday, October 30th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend was Monday, October 29th. E*TRADE Financial’s dividend payout ratio (DPR) is presently 25.57%.
In other E*TRADE Financial news, insider Brent Simonich bought 1,943 shares of the business’s stock in a transaction dated Friday, November 2nd. The shares were acquired at an average price of $51.50 per share, with a total value of $100,064.50. Following the transaction, the insider now owns 26,330 shares of the company’s stock, valued at $1,355,995. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Rodger A. Lawson bought 10,000 shares of the business’s stock in a transaction dated Monday, November 5th. The shares were acquired at an average cost of $51.27 per share, for a total transaction of $512,700.00. Following the transaction, the insider now directly owns 109,191 shares in the company, valued at approximately $5,598,222.57. The disclosure for this purchase can be found here. Insiders have bought a total of 32,668 shares of company stock worth $1,685,354 in the last three months. Corporate insiders own 0.12% of the company’s stock.
Several equities analysts have recently issued reports on ETFC shares. Morgan Stanley decreased their price objective on E*TRADE Financial from $70.00 to $69.00 and set a “buy” rating for the company in a research note on Tuesday, October 9th. UBS Group decreased their price objective on E*TRADE Financial from $73.00 to $70.00 and set a “buy” rating for the company in a research note on Monday, October 8th. Zacks Investment Research upgraded E*TRADE Financial from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research note on Tuesday, September 25th. Jefferies Financial Group upgraded E*TRADE Financial from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research note on Wednesday, September 19th. They noted that the move was a valuation call. Finally, Bank of America decreased their price objective on E*TRADE Financial from $67.00 to $62.00 and set a “buy” rating for the company in a research note on Wednesday, September 26th. Three equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. E*TRADE Financial has an average rating of “Buy” and an average price target of $64.12.
E*TRADE Financial Company 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.
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