E*TRADE Financial Corporation (ETFC) Position Reduced by US Bancorp DE

US Bancorp DE decreased its position in E*TRADE Financial Corporation (NASDAQ:ETFC) by 5.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 188,117 shares of the financial services provider’s stock after selling 11,214 shares during the period. US Bancorp DE owned approximately 0.07% of E*TRADE Financial Corporation worth $7,153,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of E*TRADE Financial Corporation by 2,903.3% in the first quarter. BlackRock Inc. now owns 18,166,924 shares of the financial services provider’s stock worth $633,844,000 after buying an additional 17,562,024 shares during the period. Victory Capital Management Inc. increased its position in shares of E*TRADE Financial Corporation by 79.2% in the first quarter. Victory Capital Management Inc. now owns 6,259,269 shares of the financial services provider’s stock worth $218,385,000 after buying an additional 2,766,050 shares during the period. Westpac Banking Corp increased its position in shares of E*TRADE Financial Corporation by 11,248.8% in the first quarter. Westpac Banking Corp now owns 2,522,959 shares of the financial services provider’s stock worth $96,538,000 after buying an additional 2,500,728 shares during the period. Morgan Stanley increased its position in shares of E*TRADE Financial Corporation by 272.0% in the first quarter. Morgan Stanley now owns 2,678,103 shares of the financial services provider’s stock worth $93,438,000 after buying an additional 1,958,159 shares during the period. Finally, TIAA CREF Investment Management LLC increased its position in shares of E*TRADE Financial Corporation by 39.5% in the first quarter. TIAA CREF Investment Management LLC now owns 4,887,026 shares of the financial services provider’s stock worth $170,508,000 after buying an additional 1,384,420 shares during the period. Hedge funds and other institutional investors own 93.19% of the company’s stock.

Shares of E*TRADE Financial Corporation (NASDAQ:ETFC) traded down 0.20% on Friday, hitting $40.07. The stock had a trading volume of 1,182,001 shares. The firm has a market cap of $11.04 billion, a P/E ratio of 18.72 and a beta of 1.48. The company’s 50-day moving average price is $39.68 and its 200 day moving average price is $36.48. E*TRADE Financial Corporation has a 12-month low of $24.85 and a 12-month high of $42.19.

E*TRADE Financial Corporation (NASDAQ:ETFC) last issued its earnings results on Thursday, July 20th. The financial services provider reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. E*TRADE Financial Corporation had a return on equity of 9.06% and a net margin of 28.42%. The firm had revenue of $577 million for the quarter, compared to the consensus estimate of $553.31 million. During the same quarter in the previous year, the company posted $0.48 earnings per share. The business’s quarterly revenue was up 21.7% compared to the same quarter last year. On average, equities research analysts forecast that E*TRADE Financial Corporation will post $2.26 earnings per share for the current fiscal year.

E*TRADE Financial Corporation declared that its Board of Directors has approved a share repurchase plan on Thursday, July 20th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the financial services provider to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

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A number of equities analysts recently issued reports on ETFC shares. Deutsche Bank AG reaffirmed a “buy” rating and issued a $41.00 price target (up from $40.00) on shares of E*TRADE Financial Corporation in a report on Monday, May 15th. UBS AG reaffirmed a “buy” rating and issued a $43.00 price target (up from $42.00) on shares of E*TRADE Financial Corporation in a report on Monday, April 24th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $43.00 price target (up from $39.00) on shares of E*TRADE Financial Corporation in a report on Saturday, July 22nd. Wells Fargo & Company reissued an “outperform” rating and issued a $41.00 price objective (up from $40.00) on shares of E*TRADE Financial Corporation in a report on Monday, June 12th. Finally, SunTrust Banks, Inc. reissued a “buy” rating and issued a $42.00 price objective (up from $40.00) on shares of E*TRADE Financial Corporation in a report on Sunday, April 23rd. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. E*TRADE Financial Corporation presently has a consensus rating of “Buy” and an average price target of $40.94.

In other news, Director James P. Healy bought 5,000 shares of the stock in a transaction on Tuesday, July 25th. The shares were purchased at an average price of $41.97 per share, for a total transaction of $209,850.00. Following the completion of the purchase, the director now directly owns 40,792 shares of the company’s stock, valued at approximately $1,712,040.24. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, insider Brent Simonich sold 5,696 shares of the business’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $41.50, for a total value of $236,384.00. Following the completion of the transaction, the insider now owns 31,557 shares in the company, valued at approximately $1,309,615.50. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

E*TRADE Financial Corporation Company Profile

E*Trade Financial Corporation is a financial services company. The Company provides online brokerage and related products and services primarily to individual retail investors under the brand E*TRADE Financial. The Company also provides investor-focused banking products, primarily sweep deposits, to retail investors.

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

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