E*TRADE Financial Corp (NASDAQ:ETFC) EVP Michael John Curcio sold 21,928 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 213,896 shares of the company’s stock, valued at $10,130,114.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Shares of NASDAQ ETFC opened at $47.28 on Thursday. E*TRADE Financial Corp has a twelve month low of $40.41 and a twelve month high of $66.46. The company has a market capitalization of $12.13 billion, a PE ratio of 12.15, a price-to-earnings-growth ratio of 1.03 and a beta of 1.19. 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 announced its earnings results on Thursday, January 24th. The financial services provider reported $1.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.05 by $0.01. E*TRADE Financial had a return on equity of 17.27% and a net margin of 36.62%. The firm had revenue of $735.00 million for the quarter, compared to the consensus estimate of $745.69 million. During the same quarter in the previous year, the business earned $0.64 EPS. The company’s revenue was up 15.4% compared to the same quarter last year. On average, analysts forecast that E*TRADE Financial Corp will post 4.15 EPS for the current fiscal year.
E*TRADE Financial declared that its Board of Directors has authorized a share repurchase program on Thursday, October 18th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 7.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 15th. Stockholders of record on Friday, February 1st will be paid a $0.14 dividend. The ex-dividend date is Thursday, January 31st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.18%. E*TRADE Financial’s payout ratio is presently 14.40%.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. lifted its stake in E*TRADE Financial by 49.2% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 102,012 shares of the financial services provider’s stock valued at $5,344,000 after purchasing an additional 33,655 shares during the last quarter. Toscafund Asset Management LLP lifted its stake in E*TRADE Financial by 22.5% in the third quarter. Toscafund Asset Management LLP now owns 735,000 shares of the financial services provider’s stock valued at $38,507,000 after purchasing an additional 135,000 shares during the last quarter. CENTRAL TRUST Co lifted its stake in E*TRADE Financial by 98.8% in the fourth quarter. CENTRAL TRUST Co now owns 5,735 shares of the financial services provider’s stock valued at $252,000 after purchasing an additional 2,850 shares during the last quarter. Brown Advisory Inc. lifted its stake in E*TRADE Financial by 97.7% in the third quarter. Brown Advisory Inc. now owns 23,952 shares of the financial services provider’s stock valued at $1,255,000 after purchasing an additional 11,835 shares during the last quarter. Finally, Engineers Gate Manager LP purchased a new position in E*TRADE Financial in the third quarter valued at approximately $4,076,000. Hedge funds and other institutional investors own 93.51% of the company’s stock.
A number of brokerages have commented on ETFC. Morgan Stanley decreased their price objective on E*TRADE Financial from $69.00 to $66.00 and set a “buy” rating for the company in a report on Wednesday, November 14th. Deutsche Bank decreased their price objective on E*TRADE Financial from $60.00 to $59.00 and set a “buy” rating for the company in a report on Friday, November 16th. Goldman Sachs Group began coverage on E*TRADE Financial in a report on Friday, November 30th. They set a “buy” rating and a $64.00 price objective for the company. BidaskClub raised E*TRADE Financial from a “sell” rating to a “hold” rating in a report on Saturday, November 3rd. Finally, Credit Suisse Group reissued an “outperform” rating on shares of E*TRADE Financial in a report on Thursday, November 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seventeen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $62.24.
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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.
See Also: Cash Flow
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