US Bancorp DE Sells 7,014 Shares of E*TRADE Financial Corp (ETFC)

US Bancorp DE lowered its holdings in E*TRADE Financial Corp (NASDAQ:ETFC) by 3.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 186,954 shares of the financial services provider’s stock after selling 7,014 shares during the quarter. US Bancorp DE owned approximately 0.07% of E*TRADE Financial worth $9,794,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ETFC. Financial Gravity Wealth Inc. raised its stake in shares of E*TRADE Financial by 25.1% during the 3rd quarter. Financial Gravity Wealth Inc. now owns 7,264 shares of the financial services provider’s stock worth $346,000 after acquiring an additional 1,458 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of E*TRADE Financial by 45.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,257,798 shares of the financial services provider’s stock worth $65,894,000 after acquiring an additional 391,574 shares in the last quarter. Nissay Asset Management Corp Japan ADV raised its stake in shares of E*TRADE Financial by 2.5% during the 3rd quarter. Nissay Asset Management Corp Japan ADV now owns 45,052 shares of the financial services provider’s stock worth $2,360,000 after acquiring an additional 1,096 shares in the last quarter. Frontier Capital Management Co. LLC raised its stake in shares of E*TRADE Financial by 6.3% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 1,087,581 shares of the financial services provider’s stock worth $56,978,000 after acquiring an additional 64,535 shares in the last quarter. Finally, Braun Stacey Associates Inc. raised its stake in shares of E*TRADE Financial by 19.8% during the 3rd quarter. Braun Stacey Associates Inc. now owns 286,390 shares of the financial services provider’s stock worth $15,004,000 after acquiring an additional 47,384 shares in the last quarter. Institutional investors and hedge funds own 91.30% of the company’s stock.

ETFC has been the subject of several recent analyst reports. Morgan Stanley boosted their price objective on shares of E*TRADE Financial from $74.00 to $78.00 and gave the stock an “overweight” rating in a research note on Thursday, July 12th. Raymond James reduced their price objective on shares of E*TRADE Financial from $77.00 to $75.00 and set a “strong-buy” rating for the company in a research note on Friday, July 13th. ValuEngine lowered shares of E*TRADE Financial from a “buy” rating to a “hold” rating in a research note on Saturday, July 14th. Zacks Investment Research upgraded shares of E*TRADE Financial from a “hold” rating to a “buy” rating and set a $67.00 price objective for the company in a research note on Monday, July 16th. Finally, BidaskClub lowered shares of E*TRADE Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, July 17th. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $65.00.

In related news, Director Joshua Weinreich bought 5,725 shares of the company’s stock in a transaction on Tuesday, November 6th. The shares were bought at an average price of $52.33 per share, with a total value of $299,589.25. Following the transaction, the director now owns 7,318 shares in the company, valued at $382,950.94. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Michael A. Pizzi bought 10,000 shares of the company’s stock in a transaction on Friday, November 2nd. The shares were bought at an average cost of $51.67 per share, for a total transaction of $516,700.00. Following the transaction, the chief financial officer now owns 88,171 shares in the company, valued at approximately $4,555,795.57. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 32,668 shares of company stock worth $1,685,354. 0.12% of the stock is owned by insiders.

NASDAQ:ETFC opened at $53.87 on Friday. The company has a market cap of $13.32 billion, a price-to-earnings ratio of 24.60, a P/E/G ratio of 0.82 and a beta of 1.09. E*TRADE Financial Corp has a twelve month low of $42.56 and a twelve month high of $66.46. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32.

E*TRADE Financial (NASDAQ:ETFC) last released its earnings results on Thursday, October 18th. The financial services provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.17. The company had revenue of $720.00 million for the quarter, compared to the consensus estimate of $710.62 million. E*TRADE Financial had a net margin of 32.83% and a return on equity of 15.45%. E*TRADE Financial’s revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.49 EPS. On average, equities research analysts expect that E*TRADE Financial Corp will post 3.77 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Tuesday, October 30th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.04%. The ex-dividend date is Monday, October 29th. E*TRADE Financial’s dividend payout ratio is presently 25.57%.

E*TRADE Financial announced that its board has authorized a stock repurchase program on Thursday, October 18th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to buy up to 7.7% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

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About E*TRADE Financial

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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