Traders Sell E-Trade Financial Corp. (ETFC) on Strength (ETFC)
Traders sold shares of E-Trade Financial Corp. (NASDAQ:ETFC) on strength during trading hours on Friday. $13.98 million flowed into the stock on the tick-up and $21.86 million flowed out of the stock on the tick-down, for a money net flow of $7.88 million out of the stock. Of all companies tracked, E-Trade Financial Corp. had the 0th highest net out-flow for the day. E-Trade Financial Corp. traded up $0.05 for the day and closed at $24.90
Several analysts recently commented on ETFC shares. Deutsche Bank AG raised their target price on E-Trade Financial Corp. from $29.00 to $31.00 and gave the stock a “buy” rating in a report on Friday, May 27th. Barclays PLC dropped their target price on E-Trade Financial Corp. from $32.00 to $28.00 and set an “overweight” rating on the stock in a report on Thursday, July 7th. Piper Jaffray Cos. reissued a “neutral” rating and issued a $33.00 price objective (up from $32.00) on shares of E-Trade Financial Corp. in a report on Monday, April 25th. Buckingham Research started coverage on E-Trade Financial Corp. in a report on Wednesday. They issued a “buy” rating and a $29.00 price objective on the stock. Finally, Nomura Holdings Inc. raised their price objective on E-Trade Financial Corp. from $29.00 to $31.00 and gave the company a “buy” rating in a report on Friday, April 22nd. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $30.92.
The firm has a market cap of $6.96 billion and a P/E ratio of 19.24. The company’s 50 day moving average price is $24.97 and its 200-day moving average price is $24.83.
E-Trade Financial Corp. (NASDAQ:ETFC) last released its earnings results on Thursday, April 21st. The company reported $0.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.10. The business had revenue of $472 million for the quarter, compared to analyst estimates of $476.67 million. During the same quarter in the previous year, the firm posted $0.29 EPS. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. Analysts expect that E-Trade Financial Corp. will post $1.61 EPS for the current fiscal year.
In related news, EVP Karl A. Roessner sold 16,828 shares of the company’s stock in a transaction that occurred on Monday, April 25th. The stock was sold at an average price of $25.93, for a total value of $436,350.04. Following the sale, the executive vice president now owns 217,295 shares in the company, valued at approximately $5,634,459.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Brent Simonich sold 3,994 shares of the company’s stock in a transaction that occurred on Tuesday, April 26th. The stock was sold at an average price of $26.22, for a total value of $104,722.68. Following the completion of the sale, the insider now owns 45,705 shares in the company, valued at approximately $1,198,385.10. The disclosure for this sale can be found here.
Several large investors have recently added to or reduced their stakes in ETFC. Bank of Montreal Can boosted its stake in E-Trade Financial Corp. by 22.5% in the fourth quarter. Bank of Montreal Can now owns 97,651 shares of the company’s stock worth $2,894,000 after buying an additional 17,928 shares in the last quarter. Deimos Asset Management LLC purchased a new stake in E-Trade Financial Corp. during the fourth quarter worth $1,378,000. Morgan Stanley boosted its stake in E-Trade Financial Corp. by 71.7% in the fourth quarter. Morgan Stanley now owns 587,367 shares of the company’s stock worth $17,410,000 after buying an additional 245,360 shares in the last quarter. Quantitative Investment Management LLC boosted its stake in E-Trade Financial Corp. by 252.7% in the fourth quarter. Quantitative Investment Management LLC now owns 97,000 shares of the company’s stock worth $2,875,000 after buying an additional 69,500 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in E-Trade Financial Corp. by 105.9% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 94,705 shares of the company’s stock worth $2,807,000 after buying an additional 48,705 shares in the last quarter.
E*Trade Financial Corporation is a financial services company. The Company provides 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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