Joshua Weinreich Acquires 5,725 Shares of E*TRADE Financial Corp (ETFC) Stock

E*TRADE Financial Corp (NASDAQ:ETFC) Director Joshua Weinreich purchased 5,725 shares of the firm’s stock in a transaction on Tuesday, November 6th. The shares were acquired at an average cost of $52.33 per share, for a total transaction of $299,589.25. Following the completion of the purchase, the director now directly owns 7,318 shares of the company’s stock, valued at approximately $382,950.94. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Shares of NASDAQ ETFC opened at $52.94 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 52 week low of $42.62 and a 52 week high of $66.46. The firm has a market capitalization of $13.62 billion, a P/E ratio of 24.17, a PEG ratio of 0.84 and a beta of 1.09.

E*TRADE Financial (NASDAQ:ETFC) last issued its earnings results on Thursday, October 18th. The financial services provider reported $1.00 EPS for the quarter, topping the consensus estimate of $0.83 by $0.17. E*TRADE Financial had a net margin of 32.83% and a return on equity of 15.45%. The company had revenue of $720.00 million for the quarter, compared to the consensus estimate of $710.62 million. During the same period in the previous year, the firm earned $0.49 earnings per share. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. On average, analysts anticipate that E*TRADE Financial Corp will post 3.77 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Tuesday, October 30th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Monday, October 29th. E*TRADE Financial’s dividend payout ratio (DPR) is currently 25.57%.

E*TRADE Financial announced that its board has authorized a stock repurchase plan on Thursday, October 18th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 7.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

ETFC has been the topic of several research reports. BidaskClub downgraded shares of E*TRADE Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, July 17th. Bank of America decreased their price target on shares of E*TRADE Financial from $67.00 to $62.00 and set a “buy” rating on the stock in a research note on Wednesday, September 26th. Raymond James decreased their target price on shares of E*TRADE Financial from $70.00 to $64.00 and set a “strong-buy” rating on the stock in a research note on Friday, October 19th. Credit Suisse Group decreased their target price on shares of E*TRADE Financial from $79.00 to $77.00 and set an “outperform” rating on the stock in a research note on Friday, July 20th. Finally, ValuEngine downgraded shares of E*TRADE Financial from a “buy” rating to a “hold” rating in a research note on Friday, July 20th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $65.00.

A number of large investors have recently added to or reduced their stakes in the stock. Canada Pension Plan Investment Board boosted its holdings in E*TRADE Financial by 2,093.8% in the third quarter. Canada Pension Plan Investment Board now owns 923,440 shares of the financial services provider’s stock valued at $48,379,000 after acquiring an additional 881,347 shares in the last quarter. Trexquant Investment LP boosted its holdings in E*TRADE Financial by 95.0% in the third quarter. Trexquant Investment LP now owns 103,151 shares of the financial services provider’s stock valued at $5,404,000 after acquiring an additional 50,241 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in E*TRADE Financial by 4.9% in the third quarter. DekaBank Deutsche Girozentrale now owns 45,805 shares of the financial services provider’s stock valued at $2,761,000 after acquiring an additional 2,148 shares in the last quarter. American International Group Inc. boosted its holdings in E*TRADE Financial by 4.1% in the third quarter. American International Group Inc. now owns 98,408 shares of the financial services provider’s stock valued at $5,156,000 after acquiring an additional 3,904 shares in the last quarter. Finally, Atlas Capital Advisors LLC boosted its holdings in E*TRADE Financial by 512.8% in the third quarter. Atlas Capital Advisors LLC now owns 9,406 shares of the financial services provider’s stock valued at $493,000 after acquiring an additional 7,871 shares in the last quarter. Institutional investors and hedge funds own 91.30% of the company’s stock.

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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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