E*TRADE Financial (NASDAQ:ETFC) had its price objective hoisted by Deutsche Bank from $35.00 to $36.00 in a research note published on Wednesday, BenzingaRatingsTable reports. The firm currently has a hold rating on the financial services provider’s stock.
A number of other research firms also recently commented on ETFC. Morgan Stanley upped their price objective on E*TRADE Financial from $46.00 to $48.00 and gave the company an overweight rating in a report on Monday. JMP Securities upped their price objective on E*TRADE Financial to $63.00 and gave the company a market perform rating in a report on Friday, July 19th. Jefferies Financial Group set a $44.00 price objective on E*TRADE Financial and gave the company a buy rating in a report on Thursday, October 10th. Credit Suisse Group dropped their price objective on E*TRADE Financial from $57.00 to $48.00 and set an outperform rating for the company in a report on Tuesday, October 1st. Finally, Keefe, Bruyette & Woods cut E*TRADE Financial from an outperform rating to a market perform rating and decreased their target price for the company from $55.00 to $45.50 in a research note on Monday, September 9th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. E*TRADE Financial presently has an average rating of Hold and a consensus price target of $47.65.
NASDAQ ETFC traded up $0.01 on Wednesday, reaching $40.90. The company had a trading volume of 2,200,800 shares, compared to its average volume of 2,922,952. The stock’s 50 day moving average is $41.45 and its 200-day moving average is $45.10. The stock has a market cap of $10.00 billion, a price-to-earnings ratio of 10.51, a PEG ratio of 1.32 and a beta of 1.21. The company has a quick ratio of 0.27, a current ratio of 0.28 and a debt-to-equity ratio of 0.24. E*TRADE Financial has a 52 week low of $34.68 and a 52 week high of $54.44.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be given a dividend of $0.14 per share. The ex-dividend date is Thursday, November 7th. This represents a $0.56 annualized dividend and a dividend yield of 1.37%. E*TRADE Financial’s dividend payout ratio is currently 14.40%.
E*TRADE Financial declared that its board has authorized a stock repurchase program on Thursday, July 18th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the financial services provider to repurchase up to 12.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
In other news, EVP Michael John Curcio sold 53,584 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 149,159 shares of the company’s stock, valued at $6,739,003.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rodger A. Lawson sold 5,109 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $45.18, for a total value 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 disclosure for this sale can be found here. 0.20% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the company. Pensionfund DSM Netherlands acquired a new stake in E*TRADE Financial during the 2nd quarter worth approximately $2,141,000. Pensionfund Sabic acquired a new stake in E*TRADE Financial during the 2nd quarter worth approximately $1,472,000. Tributary Capital Management LLC increased its position in E*TRADE Financial by 51.0% during the 2nd quarter. Tributary Capital Management LLC now owns 22,200 shares of the financial services provider’s stock worth $990,000 after purchasing an additional 7,500 shares in the last quarter. Xact Kapitalforvaltning AB increased its position in E*TRADE Financial by 9.8% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 43,304 shares of the financial services provider’s stock worth $1,931,000 after purchasing an additional 3,869 shares in the last quarter. Finally, Clark Capital Management Group Inc. increased its position in E*TRADE Financial by 2,066.6% during the 2nd quarter. Clark Capital Management Group Inc. now owns 398,910 shares of the financial services provider’s stock worth $17,791,000 after purchasing an additional 380,498 shares in the last quarter. 90.29% of the stock is owned by institutional investors.
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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