Convergence Investment Partners LLC decreased its stake in E*TRADE Financial Corporation (NASDAQ:ETFC) by 16.3% during the third quarter, Holdings Channel reports. The fund owned 38,767 shares of the company’s stock after selling 7,533 shares during the period. Convergence Investment Partners LLC’s holdings in E*TRADE Financial Corporation were worth $1,129,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. LS Investment Advisors LLC increased its stake in shares of E*TRADE Financial Corporation by 1.3% in the second quarter. LS Investment Advisors LLC now owns 12,642 shares of the company’s stock valued at $297,000 after buying an additional 162 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of E*TRADE Financial Corporation during the second quarter valued at approximately $2,423,000. Strs Ohio increased its stake in shares of E*TRADE Financial Corporation by 10.6% in the second quarter. Strs Ohio now owns 312,415 shares of the company’s stock valued at $7,338,000 after buying an additional 29,974 shares in the last quarter. K.J. Harrison & Partners Inc increased its stake in shares of E*TRADE Financial Corporation by 200.0% in the second quarter. K.J. Harrison & Partners Inc now owns 57,000 shares of the company’s stock valued at $1,339,000 after buying an additional 38,000 shares in the last quarter. Finally, Lucus Advisors LLC purchased a new stake in shares of E*TRADE Financial Corporation during the second quarter valued at approximately $349,000. Hedge funds and other institutional investors own 90.49% of the company’s stock.

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

E*TRADE Financial Corporation (NASDAQ:ETFC) traded up 0.57% during trading on Friday, hitting $36.93. 1,789,170 shares of the stock were exchanged. The firm has a market capitalization of $10.13 billion, a price-to-earnings ratio of 20.38 and a beta of 1.72. E*TRADE Financial Corporation has a 1-year low of $19.61 and a 1-year high of $37.39. The company has a 50-day moving average price of $35.01 and a 200 day moving average price of $28.77.

E*TRADE Financial Corporation (NASDAQ:ETFC) last announced its quarterly earnings results on Thursday, October 20th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.13. The company had revenue of $486 million for the quarter, compared to analysts’ expectations of $645 million. E*TRADE Financial Corporation had a net margin of 27.25% and a return on equity of 8.31%. E*TRADE Financial Corporation’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.48 EPS. Equities analysts predict that E*TRADE Financial Corporation will post $1.84 earnings per share for the current fiscal year.

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Several analysts have recently commented on the stock. Jefferies Group reiterated a “hold” rating and issued a $35.00 target price (up previously from $31.00) on shares of E*TRADE Financial Corporation in a report on Thursday, December 1st. Keefe, Bruyette & Woods assumed coverage on shares of E*TRADE Financial Corporation in a report on Thursday, December 8th. They issued a “market perform” rating and a $38.50 target price for the company. increased their target price on shares of E*TRADE Financial Corporation from $29.00 to $33.00 and gave the company an “outperform” rating in a report on Thursday, September 22nd. Goldman Sachs Group, Inc. (The) upgraded shares of E*TRADE Financial Corporation from a “neutral” rating to a “buy” rating in a report on Tuesday. Finally, Zacks Investment Research upgraded shares of E*TRADE Financial Corporation from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a report on Friday, December 16th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $33.43.

About E*TRADE Financial Corporation

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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