E*TRADE Financial Corp (NASDAQ:ETFC) EVP Michael John Curcio sold 21,928 shares of the stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $47.36, for a total value of $1,038,510.08. Following the completion of the sale, the executive vice president now directly owns 213,896 shares in the company, valued at $10,130,114.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
NASDAQ:ETFC opened at $47.47 on Wednesday. The stock has a market cap of $12.01 billion, a P/E ratio of 12.20, a PEG ratio of 1.03 and a beta of 1.19. E*TRADE Financial Corp has a 52-week low of $40.41 and a 52-week high of $66.46. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.24.
E*TRADE Financial (NASDAQ:ETFC) last released its earnings results on Thursday, January 24th. The financial services provider reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.01. The firm had revenue of $735.00 million for the quarter, compared to analyst estimates of $745.69 million. E*TRADE Financial had a return on equity of 17.27% and a net margin of 36.62%. E*TRADE Financial’s revenue was up 15.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.64 earnings per share. Sell-side analysts anticipate that E*TRADE Financial Corp will post 4.15 earnings per share for the current fiscal year.
E*TRADE Financial declared that its board has initiated a share repurchase program on Thursday, October 18th that permits the company to buyback $1.00 billion in outstanding 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 usually an indication that the company’s leadership believes its shares are undervalued.
A number of large investors have recently added to or reduced their stakes in the stock. FMR LLC grew its holdings in E*TRADE Financial by 10.5% during the second 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 during the period. Primecap Management Co. CA grew its holdings in E*TRADE Financial by 1.9% during the third quarter. Primecap Management Co. CA now owns 13,115,825 shares of the financial services provider’s stock worth $687,138,000 after acquiring an additional 238,300 shares during the period. Victory Capital Management Inc. grew its holdings in E*TRADE Financial by 19.9% during the fourth quarter. Victory Capital Management Inc. now owns 5,292,883 shares of the financial services provider’s stock worth $232,252,000 after acquiring an additional 878,417 shares during the period. First Trust Advisors LP grew its holdings in E*TRADE Financial by 23.3% during the third 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 during the period. Finally, Northern Trust Corp grew its holdings in E*TRADE Financial by 0.4% during the fourth quarter. Northern Trust Corp now owns 4,197,323 shares of the financial services provider’s stock worth $184,179,000 after acquiring an additional 14,996 shares during the period. 93.51% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently commented on ETFC shares. Raymond James lowered their price target on E*TRADE Financial from $70.00 to $64.00 and set a “strong-buy” rating on the stock in a report on Friday, October 19th. Deutsche Bank lowered their price target 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. Morgan Stanley set a $62.00 price target on E*TRADE Financial and gave the company a “buy” rating in a report on Tuesday, January 29th. Credit Suisse Group reissued an “outperform” rating on shares of E*TRADE Financial in a report on Thursday, November 15th. Finally, Zacks Investment Research lowered E*TRADE Financial from a “buy” rating to a “hold” rating in a report on Monday, January 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seventeen have assigned a buy rating to the company. E*TRADE Financial presently has a consensus rating of “Buy” and an average target price of $62.24.
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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