Raymond James Financial Services Advisors Inc. Acquires New Holdings in E*TRADE Financial Corp (ETFC)

Raymond James Financial Services Advisors Inc. acquired a new position in E*TRADE Financial Corp (NASDAQ:ETFC) during the third quarter, according to its most recent 13F filing with the SEC. The firm acquired 10,346 shares of the financial services provider’s stock, valued at approximately $451,000.

Several other institutional investors have also recently added to or reduced their stakes in ETFC. Wedge Capital Management L L P NC grew its stake in shares of E*TRADE Financial by 0.3% in the second quarter. Wedge Capital Management L L P NC now owns 23,923 shares of the financial services provider’s stock valued at $910,000 after buying an additional 62 shares in the last quarter. Sentry Investment Management LLC grew its stake in shares of E*TRADE Financial by 0.6% in the second quarter. Sentry Investment Management LLC now owns 17,179 shares of the financial services provider’s stock valued at $653,000 after buying an additional 95 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of E*TRADE Financial by 0.4% in the second quarter. CIBC Asset Management Inc now owns 26,191 shares of the financial services provider’s stock valued at $996,000 after buying an additional 106 shares in the last quarter. BlueMountain Capital Management LLC grew its stake in shares of E*TRADE Financial by 0.6% in the second quarter. BlueMountain Capital Management LLC now owns 30,621 shares of the financial services provider’s stock valued at $1,165,000 after buying an additional 182 shares in the last quarter. Finally, Krilogy Financial LLC grew its stake in shares of E*TRADE Financial by 7.5% in the second quarter. Krilogy Financial LLC now owns 3,710 shares of the financial services provider’s stock valued at $141,000 after buying an additional 260 shares in the last quarter. Institutional investors own 94.32% of the company’s stock.

Shares of E*TRADE Financial Corp (NASDAQ:ETFC) opened at $49.40 on Thursday. E*TRADE Financial Corp has a 12 month low of $32.25 and a 12 month high of $50.90. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $13,544.44, a P/E ratio of 25.52, a price-to-earnings-growth ratio of 1.79 and a beta of 1.45.

E*TRADE Financial (NASDAQ:ETFC) last released its earnings results on Thursday, October 19th. The financial services provider reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. E*TRADE Financial had a return on equity of 9.34% and a net margin of 27.35%. The company had revenue of $599.00 million for the quarter, compared to the consensus estimate of $598.96 million. During the same quarter last year, the business posted $0.51 EPS. E*TRADE Financial’s quarterly revenue was up 23.3% compared to the same quarter last year. equities research analysts forecast that E*TRADE Financial Corp will post 2.26 earnings per share for the current year.

In other E*TRADE Financial news, CEO Karl A. Roessner sold 8,578 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $40.49, for a total transaction of $347,323.22. Following the transaction, the chief executive officer now owns 225,731 shares of the company’s stock, valued at approximately $9,139,848.19. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michael John Curcio sold 33,474 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $40.38, for a total value of $1,351,680.12. Following the transaction, the insider now directly owns 267,151 shares in the company, valued at approximately $10,787,557.38. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.

A number of equities research analysts have recently issued reports on ETFC shares. Barclays started coverage on E*TRADE Financial in a research note on Friday, September 8th. They issued an “overweight” rating and a $45.00 target price for the company. Deutsche Bank increased their target price on E*TRADE Financial from $48.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, October 25th. Bank of America upgraded E*TRADE Financial from a “neutral” rating to a “buy” rating and increased their target price for the company from $44.00 to $49.00 in a research note on Monday, October 9th. SunTrust Banks reiterated a “buy” rating and issued a $50.00 target price on shares of E*TRADE Financial in a research note on Friday, October 20th. Finally, Zacks Investment Research upgraded E*TRADE Financial from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Tuesday, October 10th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. E*TRADE Financial presently has an average rating of “Buy” and a consensus price target of $47.40.

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About E*TRADE Financial

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.

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

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