First National Bank of Hutchinson Trims Stake in E*TRADE Financial Corp (ETFC)

First National Bank of Hutchinson lowered its holdings in shares of E*TRADE Financial Corp (NASDAQ:ETFC) by 16.4% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,171 shares of the financial services provider’s stock after selling 2,187 shares during the quarter. First National Bank of Hutchinson’s holdings in E*TRADE Financial were worth $585,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ETFC. Parallel Advisors LLC increased its holdings in E*TRADE Financial by 362.5% in the 2nd quarter. Parallel Advisors LLC now owns 1,679 shares of the financial services provider’s stock worth $102,000 after acquiring an additional 1,316 shares in the last quarter. Nisa Investment Advisors LLC purchased a new stake in E*TRADE Financial in the 2nd quarter worth approximately $119,000. Qube Research & Technologies Ltd purchased a new stake in E*TRADE Financial in the 2nd quarter worth approximately $128,000. NewSquare Capital LLC purchased a new stake in E*TRADE Financial in the 2nd quarter worth approximately $163,000. Finally, Zacks Investment Management purchased a new stake in E*TRADE Financial in the 2nd quarter worth approximately $200,000. 90.89% of the stock is owned by hedge funds and other institutional investors.

ETFC stock traded up $0.14 during midday trading on Friday, hitting $47.51. The company’s stock had a trading volume of 347,645 shares, compared to its average volume of 2,753,805. E*TRADE Financial Corp has a 12 month low of $42.56 and a 12 month high of $66.46. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.28 and a quick ratio of 0.28. The company has a market capitalization of $12.76 billion, a price-to-earnings ratio of 21.63, a PEG ratio of 0.76 and a beta of 1.08.



E*TRADE Financial (NASDAQ:ETFC) last posted its quarterly earnings results on Thursday, October 18th. The financial services provider reported $1.00 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.17. E*TRADE Financial had a return on equity of 15.45% and a net margin of 32.83%. The business had revenue of $720.00 million during the quarter, compared to the consensus estimate of $710.62 million. During the same period in the prior year, the company posted $0.49 EPS. The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. Sell-side analysts anticipate that E*TRADE Financial Corp will post 3.77 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Tuesday, October 30th will be given a dividend of $0.14 per share. The ex-dividend date is Monday, October 29th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.18%.

E*TRADE Financial declared that its board has approved a share repurchase plan on Thursday, October 18th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to purchase up to 7.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Several research firms recently issued reports on ETFC. Morgan Stanley reduced their target price on shares of E*TRADE Financial from $78.00 to $74.00 and set an “overweight” rating for the company in a report on Wednesday, July 25th. Zacks Investment Research raised shares of E*TRADE Financial from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a report on Monday, July 16th. Deutsche Bank dropped their price target on E*TRADE Financial from $72.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, August 22nd. BidaskClub downgraded E*TRADE Financial from a “sell” rating to a “strong sell” rating in a research note on Friday, September 14th. Finally, Raymond James dropped their price target on E*TRADE Financial from $75.00 to $70.00 and set a “strong-buy” rating for the company in a research note on Thursday, October 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $66.44.

About E*TRADE Financial

E*TRADE Financial Corporation, a financial services company, provides brokerage and related products and services primarily to individual retail investors under the E*TRADE Financial brand. It also offers investor-focused banking products, primarily sweep deposits to retail investors; Federal Deposit Insurance Corporation insurance services; clearing and settlement services; investment advisory services; and financial corporate services, such as software and services for managing equity compensation plans to its corporate clients.

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

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