DekaBank Deutsche Girozentrale lessened its position in shares of E*TRADE Financial Corp (NASDAQ:ETFC) by 16.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,616 shares of the financial services provider’s stock after selling 3,847 shares during the period. DekaBank Deutsche Girozentrale’s holdings in E*TRADE Financial were worth $950,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in ETFC. Iowa State Bank boosted its position in E*TRADE Financial by 1.5% during the second quarter. Iowa State Bank now owns 13,030 shares of the financial services provider’s stock valued at $648,000 after acquiring an additional 192 shares during the last quarter. Ellevest Inc. lifted its stake in shares of E*TRADE Financial by 48.4% in the 2nd quarter. Ellevest Inc. now owns 607 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 198 shares during the period. KCS Wealth Advisory lifted its stake in shares of E*TRADE Financial by 4.2% in the 2nd quarter. KCS Wealth Advisory now owns 7,084 shares of the financial services provider’s stock valued at $352,000 after purchasing an additional 283 shares during the period. Private Capital Group LLC boosted its position in shares of E*TRADE Financial by 34.1% during the 1st quarter. Private Capital Group LLC now owns 1,259 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 320 shares in the last quarter. Finally, Mutual of America Capital Management LLC grew its stake in E*TRADE Financial by 1.1% during the first quarter. Mutual of America Capital Management LLC now owns 30,837 shares of the financial services provider’s stock worth $1,058,000 after purchasing an additional 326 shares during the period. Institutional investors and hedge funds own 89.90% of the company’s stock.
In other E*TRADE Financial news, insider Michael Jos. Murphy sold 10,000 shares of E*TRADE Financial stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $52.72, for a total transaction of $527,200.00. Following the transaction, the insider now directly owns 34,367 shares of the company’s stock, valued at approximately $1,811,828.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is currently owned by company insiders.
Shares of NASDAQ ETFC opened at $53.37 on Tuesday. The stock has a market cap of $12.02 billion, a price-to-earnings ratio of 15.02 and a beta of 1.25. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.30 and a current ratio of 0.30. E*TRADE Financial Corp has a fifty-two week low of $25.76 and a fifty-two week high of $57.30. The firm’s 50-day simple moving average is $51.70 and its 200 day simple moving average is $44.47.
E*TRADE Financial (NASDAQ:ETFC) last issued its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.88 EPS for the quarter, topping the consensus estimate of $0.76 by $0.12. E*TRADE Financial had a return on equity of 14.59% and a net margin of 28.69%. The firm had revenue of $716.00 million during the quarter, compared to the consensus estimate of $678.03 million. On average, sell-side analysts predict that E*TRADE Financial Corp will post 3.05 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 25th. Investors of record on Wednesday, August 19th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date is Tuesday, August 18th. E*TRADE Financial’s payout ratio is currently 13.90%.
Several brokerages have issued reports on ETFC. Piper Sandler boosted their price target on E*TRADE Financial from $49.00 to $53.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Zacks Investment Research downgraded shares of E*TRADE Financial from a “buy” rating to a “hold” rating and set a $55.00 target price on the stock. in a research report on Wednesday, July 15th. UBS Group raised their price target on shares of E*TRADE Financial from $41.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. BidaskClub upgraded shares of E*TRADE Financial from a “sell” rating to a “hold” rating in a report on Wednesday, August 12th. Finally, Deutsche Bank cut their price objective on shares of E*TRADE Financial from $53.00 to $50.00 and set a “hold” rating on the stock in a research report on Thursday, July 9th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $47.61.
About E*TRADE Financial
E*TRADE Financial Corporation, a financial services company, provides brokerage and related products and services for traders, investors, stock plan administrators and participants, and registered investment advisors (RIAs). It also offers investor-focused banking products, primarily sweep deposits to customers; clearing and settlement services; Federal Deposit Insurance Corporation insurance services; custody solutions to RIAs; other banking and cash management services; software and services for managing equity compensation plans to its corporate clients; retail futures transaction services; and investment advisory services.
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