E*TRADE Financial (NASDAQ:ETFC) posted its earnings results on Thursday. The financial services provider reported $1.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.01 by $0.07, RTT News reports. E*TRADE Financial had a net margin of 36.75% and a return on equity of 18.44%. The business had revenue of $767.00 million for the quarter, compared to analyst estimates of $742.83 million. During the same quarter in the prior year, the firm earned $1.00 EPS. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year.
NASDAQ:ETFC traded down $0.28 during mid-day trading on Thursday, reaching $38.73. 1,876,208 shares of the company were exchanged, compared to its average volume of 2,876,149. E*TRADE Financial has a 12 month low of $34.68 and a 12 month high of $54.44. The company has a fifty day moving average of $41.54 and a 200 day moving average of $45.34. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.28. The stock has a market cap of $9.62 billion, a PE ratio of 9.96, a PEG ratio of 1.34 and a beta of 1.21.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 8th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.45%. E*TRADE Financial’s dividend payout ratio is currently 14.40%.
In other news, Director Rodger A. Lawson sold 5,109 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $45.18, for a total value of $230,824.62. Following the transaction, the director now owns 113,739 shares of the company’s stock, valued at approximately $5,138,728.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael John Curcio sold 53,584 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $45.18, for a total transaction of $2,420,925.12. Following the completion of the transaction, the executive vice president now directly owns 149,159 shares in the company, valued at approximately $6,739,003.62. The disclosure for this sale can be found here. 0.20% of the stock is owned by corporate insiders.
Several research firms have recently weighed in on ETFC. Keefe, Bruyette & Woods lowered shares of E*TRADE Financial from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $55.00 to $45.50 in a report on Monday, September 9th. Barclays lowered shares of E*TRADE Financial from an “overweight” rating to an “underweight” rating and decreased their price objective for the stock from $56.00 to $31.00 in a report on Wednesday, October 2nd. ValuEngine lowered shares of E*TRADE Financial from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 1st. Deutsche Bank decreased their price objective on shares of E*TRADE Financial from $45.00 to $43.00 and set a “hold” rating on the stock in a report on Wednesday, August 21st. Finally, Wells Fargo & Co lowered shares of E*TRADE Financial from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $55.00 to $37.00 in a report on Thursday, October 3rd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the stock. E*TRADE Financial has a consensus rating of “Hold” and a consensus price target of $48.04.
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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