E-Trade Financial Corp. (ETFC) Stake Raised by BlackRock Advisors LLC
BlackRock Advisors LLC boosted its position in E-Trade Financial Corp. (NASDAQ:ETFC) by 9.2% during the second quarter, Holdings Channel reports. The institutional investor owned 309,744 shares of the company’s stock after buying an additional 26,215 shares during the period. BlackRock Advisors LLC owned 0.11% of E-Trade Financial Corp. worth $7,276,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the company. Ngam Advisors L.P. increased its stake in E-Trade Financial Corp. by 25.7% in the first quarter. Ngam Advisors L.P. now owns 135,078 shares of the company’s stock valued at $3,308,000 after buying an additional 27,648 shares during the last quarter. Prudential Financial Inc. increased its stake in E-Trade Financial Corp. by 90.3% in the first quarter. Prudential Financial Inc. now owns 692,611 shares of the company’s stock valued at $16,962,000 after buying an additional 328,720 shares during the last quarter. BlackRock Group LTD increased its stake in E-Trade Financial Corp. by 38.4% in the first quarter. BlackRock Group LTD now owns 2,075,861 shares of the company’s stock valued at $50,837,000 after buying an additional 575,984 shares during the last quarter. Aviva PLC bought a new stake in E-Trade Financial Corp. during the first quarter valued at $3,660,000. Finally, Meiji Yasuda Asset Management Co Ltd. bought a new stake in E-Trade Financial Corp. during the first quarter valued at $243,000. Hedge funds and other institutional investors own 91.48% of the company’s stock.
Shares of E-Trade Financial Corp. (NASDAQ:ETFC) opened at 28.71 on Thursday. The firm has a market cap of $7.95 billion, a PE ratio of 37.63 and a beta of 1.70. The company’s 50 day moving average is $27.69 and its 200-day moving average is $25.78. E-Trade Financial Corp. has a 12 month low of $19.61 and a 12 month high of $30.98.
E-Trade Financial Corp. (NASDAQ:ETFC) last posted its quarterly earnings results on Thursday, July 21st. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.10. The business earned $474 million during the quarter, compared to analyst estimates of $472.50 million. E-Trade Financial Corp. had a return on equity of 7.64% and a net margin of 15.07%. Equities research analysts predict that E-Trade Financial Corp. will post $1.70 EPS for the current year.
ETFC has been the subject of several research analyst reports. Credit Agricole SA boosted their target price on shares of E-Trade Financial Corp. from $29.00 to $33.00 and gave the stock an “outperform” rating in a research report on Thursday, September 22nd. Morgan Stanley initiated coverage on shares of E-Trade Financial Corp. in a research report on Monday, September 26th. They issued an “equal weight” rating and a $29.00 target price for the company. Credit Suisse Group AG initiated coverage on shares of E-Trade Financial Corp. in a research report on Wednesday, September 21st. They issued an “outperform” rating and a $33.00 target price for the company. Jefferies Group boosted their target price on shares of E-Trade Financial Corp. from $28.00 to $31.00 and gave the stock a “hold” rating in a research report on Tuesday. Finally, Bank of America Corp. reissued a “buy” rating and issued a $28.00 target price on shares of E-Trade Financial Corp. in a research report on Tuesday, September 13th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $30.65.
About E-Trade Financial Corp.
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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