Chevy Chase Trust Holdings Inc. cut its position in shares of E*TRADE Financial Corporation (NASDAQ:ETFC) by 0.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 236,634 shares of the financial services provider’s stock after selling 155 shares during the period. Chevy Chase Trust Holdings Inc. owned about 0.09% of E*TRADE Financial Corporation worth $8,999,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in ETFC. State of Alaska Department of Revenue acquired a new position in shares of E*TRADE Financial Corporation during the first quarter worth $357,000. Boston Partners increased its position in shares of E*TRADE Financial Corporation by 118.2% in the first quarter. Boston Partners now owns 241,034 shares of the financial services provider’s stock worth $8,410,000 after buying an additional 130,552 shares in the last quarter. Bank of Nova Scotia increased its position in shares of E*TRADE Financial Corporation by 71.8% in the first quarter. Bank of Nova Scotia now owns 614,202 shares of the financial services provider’s stock worth $21,430,000 after buying an additional 256,788 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in shares of E*TRADE Financial Corporation by 107.5% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,291 shares of the financial services provider’s stock worth $153,000 after buying an additional 2,223 shares in the last quarter. Finally, Aberdeen Asset Management PLC UK increased its position in shares of E*TRADE Financial Corporation by 304.8% in the first quarter. Aberdeen Asset Management PLC UK now owns 264,548 shares of the financial services provider’s stock worth $9,230,000 after buying an additional 199,191 shares in the last quarter. Hedge funds and other institutional investors own 92.41% of the company’s stock.
E*TRADE Financial Corporation (NASDAQ ETFC) opened at 39.60 on Friday. The stock has a 50 day moving average of $37.54 and a 200-day moving average of $35.94. The firm has a market capitalization of $10.89 billion, a PE ratio of 20.53 and a beta of 1.47. E*TRADE Financial Corporation has a one year low of $24.35 and a one year high of $40.40.
E*TRADE Financial Corporation (NASDAQ:ETFC) last announced its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.04. E*TRADE Financial Corporation had a return on equity of 9.09% and a net margin of 26.90%. The firm had revenue of $577 million for the quarter, compared to analysts’ expectations of $553.31 million. During the same period last year, the business posted $0.48 earnings per share. The firm’s revenue for the quarter was up 21.7% on a year-over-year basis. On average, equities analysts predict that E*TRADE Financial Corporation will post $2.00 EPS for the current year.
WARNING: “Chevy Chase Trust Holdings Inc. Reduces Position in E*TRADE Financial Corporation (ETFC)” was published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this piece on another website, it was illegally stolen and reposted in violation of United States and international copyright laws. The original version of this piece can be accessed at https://stocknewstimes.com/2017/07/21/chevy-chase-trust-holdings-inc-reduces-position-in-etrade-financial-corporation-etfc.html.
A number of research analysts recently issued reports on ETFC shares. Deutsche Bank AG reiterated a “buy” rating and issued a $40.00 price target (up previously from $39.00) on shares of E*TRADE Financial Corporation in a research note on Sunday, April 23rd. Zacks Investment Research downgraded shares of E*TRADE Financial Corporation from a “hold” rating to a “sell” rating in a research note on Monday, April 3rd. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $41.00 price target on shares of E*TRADE Financial Corporation in a research note on Friday, April 21st. Wells Fargo & Company reiterated an “outperform” rating and issued a $41.00 price target (up previously from $40.00) on shares of E*TRADE Financial Corporation in a research note on Monday, June 12th. Finally, SunTrust Banks, Inc. lifted their price target on shares of E*TRADE Financial Corporation from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday, June 16th. Five investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $37.53.
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.
Want to see what other hedge funds are holding ETFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for E*TRADE Financial Corporation (NASDAQ:ETFC).
Receive News & Ratings for E*TRADE Financial Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for E*TRADE Financial Corporation and related companies with MarketBeat.com's FREE daily email newsletter.
