Tributary Capital Management LLC boosted its stake in E*TRADE Financial Corporation (NASDAQ:ETFC) by 36.4% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 49,500 shares of the financial services provider’s stock after buying an additional 13,200 shares during the period. Tributary Capital Management LLC’s holdings in E*TRADE Financial Corporation were worth $1,882,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. GSA Capital Partners LLP purchased a new position in E*TRADE Financial Corporation during the fourth quarter valued at $245,000. Quadrature Capital Ltd boosted its position in shares of E*TRADE Financial Corporation by 66.0% in the fourth quarter. Quadrature Capital Ltd now owns 71,224 shares of the financial services provider’s stock valued at $2,468,000 after buying an additional 28,316 shares during the period. Kentucky Retirement Systems bought a new position in shares of E*TRADE Financial Corporation during the fourth quarter valued at approximately $688,000. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of E*TRADE Financial Corporation during the fourth quarter valued at approximately $307,000. Finally, Macquarie Group Ltd. boosted its position in shares of E*TRADE Financial Corporation by 1,850.8% in the fourth quarter. Macquarie Group Ltd. now owns 126,800 shares of the financial services provider’s stock valued at $4,394,000 after buying an additional 120,300 shares during the period. 94.35% of the stock is owned by institutional investors.
Shares of E*TRADE Financial Corporation (NASDAQ:ETFC) opened at 40.42 on Thursday. The firm has a market cap of $11.13 billion, a P/E ratio of 18.89 and a beta of 1.48. The company’s 50 day moving average price is $40.00 and its 200 day moving average price is $36.54. 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 quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.48 by $0.04. The company had revenue of $577 million for the quarter, compared to the consensus estimate of $553.31 million. E*TRADE Financial Corporation had a net margin of 28.42% and a return on equity of 9.06%. The firm’s revenue was up 21.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.48 EPS. Equities research analysts forecast that E*TRADE Financial Corporation will post $2.26 EPS for the current year.
E*TRADE Financial Corporation announced that its Board of Directors has authorized a stock repurchase program on Thursday, July 20th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the financial services provider to buy up to 9.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
Several brokerages recently commented on ETFC. Morgan Stanley reissued an “equal weight” rating and set a $43.00 price target (up from $40.00) on shares of E*TRADE Financial Corporation in a research report on Tuesday, July 25th. Deutsche Bank AG raised their price objective on E*TRADE Financial Corporation from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, July 21st. Bank of America Corporation raised their price objective on E*TRADE Financial Corporation from $40.00 to $44.00 and gave the company a “neutral” rating in a research report on Friday, July 21st. Robert W. Baird reaffirmed an “outperform” rating and issued a $49.00 price objective (up from $43.00) on shares of E*TRADE Financial Corporation in a research report on Saturday, July 22nd. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $43.00 target price (up previously from $39.00) on shares of E*TRADE Financial Corporation in a research note on Saturday, July 22nd. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. E*TRADE Financial Corporation presently has a consensus rating of “Buy” and a consensus price target of $40.94.
In other E*TRADE Financial Corporation news, Director James P. Healy purchased 5,000 shares of the stock in a transaction dated Tuesday, July 25th. The stock was purchased at an average price of $41.97 per share, with a total value of $209,850.00. Following the transaction, the director now owns 40,792 shares of the company’s stock, valued at $1,712,040.24. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Brent Simonich sold 5,696 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $41.50, for a total transaction of $236,384.00. Following the completion of the sale, the insider now directly owns 31,557 shares of the company’s stock, valued at approximately $1,309,615.50. The disclosure for this sale can be found here. 0.17% of the stock is owned by insiders.
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.
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