E*TRADE Financial Corp (ETFC) Stake Decreased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of E*TRADE Financial Corp (NASDAQ:ETFC) by 37.3% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 107,596 shares of the financial services provider’s stock after selling 63,917 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in E*TRADE Financial were worth $6,581,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of E*TRADE Financial by 5.4% during the 1st quarter. BlackRock Inc. now owns 21,722,257 shares of the financial services provider’s stock worth $1,203,632,000 after purchasing an additional 1,122,577 shares during the period. First Trust Advisors LP grew its stake in shares of E*TRADE Financial by 0.7% during the 2nd quarter. First Trust Advisors LP now owns 3,779,822 shares of the financial services provider’s stock worth $231,174,000 after purchasing an additional 26,355 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of E*TRADE Financial by 1.0% during the 1st quarter. Thrivent Financial for Lutherans now owns 3,637,490 shares of the financial services provider’s stock worth $201,554,000 after purchasing an additional 36,034 shares during the period. Manning & Napier Group LLC grew its stake in shares of E*TRADE Financial by 75.2% during the 1st quarter. Manning & Napier Group LLC now owns 1,948,425 shares of the financial services provider’s stock worth $107,960,000 after purchasing an additional 836,090 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of E*TRADE Financial by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,884,978 shares of the financial services provider’s stock worth $104,447,000 after purchasing an additional 14,094 shares during the period. 91.75% of the stock is currently owned by institutional investors and hedge funds.

ETFC has been the topic of several recent research reports. JMP Securities reiterated a “positive” rating and issued a $64.00 price objective (up from $60.00) on shares of E*TRADE Financial in a research report on Friday, April 20th. SunTrust Banks boosted their price objective on shares of E*TRADE Financial from $3.70 to $70.00 and gave the stock a “buy” rating in a research report on Friday, April 20th. Credit Suisse Group boosted their price objective on shares of E*TRADE Financial from $70.00 to $71.00 and gave the stock an “outperform” rating in a research report on Friday, April 20th. Morgan Stanley set a $74.00 price objective on shares of E*TRADE Financial and gave the stock a “buy” rating in a research report on Wednesday, April 25th. Finally, Wells Fargo & Co boosted their price objective on shares of E*TRADE Financial from $67.00 to $73.00 and gave the stock an “outperform” rating in a research report on Monday, May 21st. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $66.81.

E*TRADE Financial stock opened at $60.33 on Thursday. E*TRADE Financial Corp has a 52 week low of $39.12 and a 52 week high of $66.46. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.28 and a current ratio of 0.28. The stock has a market capitalization of $15.99 billion, a P/E ratio of 27.55, a price-to-earnings-growth ratio of 1.05 and a beta of 1.19.

E*TRADE Financial (NASDAQ:ETFC) last released its earnings results on Thursday, July 19th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.07. The company had revenue of $710.00 million for the quarter, compared to analyst estimates of $707.78 million. E*TRADE Financial had a net margin of 29.13% and a return on equity of 13.39%. The firm’s quarterly revenue was up 23.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.52 EPS. analysts forecast that E*TRADE Financial Corp will post 3.59 EPS for the current fiscal year.

E*TRADE Financial Company Profile

E*TRADE Financial Corporation, a financial services company, provides brokerage and related products and services primarily to individual retail investors under the E*TRADE Financial brand. It also offers investor-focused banking products, primarily sweep deposits to retail investors; Federal Deposit Insurance Corporation insurance services; clearing and settlement services; investment advisory services; and financial corporate services, such as software and services for managing equity compensation plans to its corporate clients.

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

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