E*TRADE Financial Corp (NASDAQ:ETFC) was the recipient of unusually large options trading activity on Thursday. Traders bought 27,099 call options on the stock. This is an increase of 824% compared to the typical daily volume of 2,932 call options.
Shares of ETFC opened at $41.58 on Friday. The stock has a market cap of $11.01 billion, a price-to-earnings ratio of 10.69, a P/E/G ratio of 1.47 and a beta of 1.21. The company has a quick ratio of 0.28, a current ratio of 0.28 and a debt-to-equity ratio of 0.24. E*TRADE Financial has a 12 month low of $34.68 and a 12 month high of $54.08. The company has a 50-day moving average price of $41.11 and a two-hundred day moving average price of $44.19.
E*TRADE Financial (NASDAQ:ETFC) last announced its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.07. The firm had revenue of $767.00 million during the quarter, compared to analysts’ expectations of $742.83 million. E*TRADE Financial had a net margin of 35.79% and a return on equity of 18.41%. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.00 earnings per share. Equities research analysts expect that E*TRADE Financial will post 4.1 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date was Thursday, November 7th. E*TRADE Financial’s dividend payout ratio is 14.40%.
In other E*TRADE Financial news, Director Rodger A. Lawson sold 5,109 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $45.18, for a total transaction of $230,824.62. Following the transaction, the director now directly owns 113,739 shares of the company’s stock, valued at $5,138,728.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Michael John Curcio sold 53,584 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $45.18, for a total transaction of $2,420,925.12. Following the transaction, the executive vice president now directly owns 149,159 shares in the company, valued at $6,739,003.62. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in ETFC. APG Asset Management N.V. increased its holdings in shares of E*TRADE Financial by 17.4% during the second quarter. APG Asset Management N.V. now owns 29,000 shares of the financial services provider’s stock worth $1,136,000 after buying an additional 4,300 shares in the last quarter. 180 Wealth Advisors LLC acquired a new stake in shares of E*TRADE Financial during the third quarter worth approximately $587,000. Bank of Nova Scotia increased its holdings in shares of E*TRADE Financial by 4.0% during the second quarter. Bank of Nova Scotia now owns 1,614,644 shares of the financial services provider’s stock worth $72,013,000 after buying an additional 62,599 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of E*TRADE Financial during the second quarter worth approximately $623,000. Finally, Westpac Banking Corp increased its holdings in shares of E*TRADE Financial by 80.5% during the second quarter. Westpac Banking Corp now owns 28,636 shares of the financial services provider’s stock worth $1,277,000 after buying an additional 12,768 shares in the last quarter. Hedge funds and other institutional investors own 90.00% of the company’s stock.
Several research firms have commented on ETFC. BidaskClub raised shares of E*TRADE Financial from a “hold” rating to a “buy” rating in a research report on Tuesday. Jefferies Financial Group set a $44.00 target price on shares of E*TRADE Financial and gave the stock a “buy” rating in a research report on Thursday, October 10th. Wells Fargo & Co increased their target price on shares of E*TRADE Financial from $37.00 to $40.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Keefe, Bruyette & Woods cut shares of E*TRADE Financial from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $55.00 to $45.50 in a report on Monday, September 9th. Finally, Deutsche Bank upped their price target on shares of E*TRADE Financial from $35.00 to $36.00 and gave the company a “hold” rating in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $47.73.
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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