E*TRADE Financial (NASDAQ:ETFC) Reaches New 1-Year Low at $39.97

E*TRADE Financial Corp (NASDAQ:ETFC) hit a new 52-week low on Friday . The stock traded as low as $39.97 and last traded at $40.10, with a volume of 4175450 shares. The stock had previously closed at $41.31.

ETFC has been the subject of several recent research reports. Deutsche Bank decreased their price target on E*TRADE Financial from $45.00 to $43.00 and set a “hold” rating for the company in a report on Wednesday. Zacks Investment Research downgraded E*TRADE Financial from a “buy” rating to a “hold” rating in a report on Friday, May 24th. JMP Securities increased their price target on E*TRADE Financial to $63.00 and gave the stock a “market perform” rating in a report on Friday, July 19th. Keefe, Bruyette & Woods increased their price target on E*TRADE Financial from $53.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Finally, Morgan Stanley increased their price target on E*TRADE Financial from $55.00 to $57.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $56.14.

The firm has a market cap of $10.06 billion, a PE ratio of 10.31, a PEG ratio of 0.91 and a beta of 1.15. The business has a 50-day moving average price of $45.03 and a two-hundred day moving average price of $47.02. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.27 and a quick ratio of 0.27.



E*TRADE Financial (NASDAQ:ETFC) last announced its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.02. E*TRADE Financial had a return on equity of 18.44% and a net margin of 36.75%. The business had revenue of $685.00 million during the quarter, compared to analysts’ expectations of $751.35 million. During the same quarter last year, the business posted $0.95 earnings per share. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. Equities analysts expect that E*TRADE Financial Corp will post 4.14 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Monday, August 19th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date is Friday, August 16th. E*TRADE Financial’s dividend payout ratio is currently 14.40%.

E*TRADE Financial declared that its Board of Directors has authorized a share repurchase plan on Thursday, July 18th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 12.9% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Several hedge funds have recently made changes to their positions in ETFC. GSA Capital Partners LLP increased its position in E*TRADE Financial by 4.6% during the 2nd quarter. GSA Capital Partners LLP now owns 5,424 shares of the financial services provider’s stock worth $242,000 after purchasing an additional 237 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in E*TRADE Financial by 0.8% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 33,283 shares of the financial services provider’s stock worth $1,545,000 after buying an additional 259 shares during the last quarter. ETF Managers Group LLC boosted its stake in E*TRADE Financial by 11.3% in the 1st quarter. ETF Managers Group LLC now owns 2,587 shares of the financial services provider’s stock worth $120,000 after buying an additional 262 shares during the last quarter. FDx Advisors Inc. lifted its stake in shares of E*TRADE Financial by 3.9% in the 2nd quarter. FDx Advisors Inc. now owns 7,032 shares of the financial services provider’s stock valued at $314,000 after purchasing an additional 267 shares in the last quarter. Finally, First Republic Investment Management Inc. lifted its position in E*TRADE Financial by 2.6% during the 2nd quarter. First Republic Investment Management Inc. now owns 10,981 shares of the financial services provider’s stock worth $490,000 after acquiring an additional 277 shares in the last quarter. Institutional investors and hedge funds own 91.88% of the company’s stock.

About E*TRADE Financial (NASDAQ:ETFC)

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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