Westpac Banking Corp increased its position in E*TRADE Financial Corporation (NASDAQ:ETFC) by 11,248.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,522,959 shares of the financial services provider’s stock after buying an additional 2,500,728 shares during the period. E*TRADE Financial Corporation accounts for approximately 1.0% of Westpac Banking Corp’s holdings, making the stock its 24th largest position. Westpac Banking Corp owned approximately 0.92% of E*TRADE Financial Corporation worth $96,538,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in ETFC. Marshall Wace LLP raised its position in E*TRADE Financial Corporation by 52.7% in the fourth quarter. Marshall Wace LLP now owns 107,449 shares of the financial services provider’s stock worth $3,723,000 after buying an additional 37,077 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of E*TRADE Financial Corporation during the first quarter worth approximately $357,000. Boston Partners increased its stake in shares of E*TRADE Financial Corporation by 118.2% in the first quarter. Boston Partners now owns 241,034 shares of the financial services provider’s stock worth $8,410,000 after buying an additional 130,552 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of E*TRADE Financial Corporation during the fourth quarter worth approximately $10,170,000. Finally, Seven Eight Capital LP purchased a new stake in shares of E*TRADE Financial Corporation during the fourth quarter worth approximately $1,266,000. 92.00% of the stock is currently owned by hedge funds and other institutional investors.
Shares of E*TRADE Financial Corporation (ETFC) traded down 0.54% during mid-day trading on Friday, hitting $37.05. 3,172,593 shares of the stock traded hands. The company has a market cap of $10.18 billion, a price-to-earnings ratio of 19.21 and a beta of 1.40. E*TRADE Financial Corporation has a 52 week low of $21.52 and a 52 week high of $38.61. The stock has a 50-day moving average of $35.32 and a 200-day moving average of $35.40.
E*TRADE Financial Corporation (NASDAQ:ETFC) last announced its quarterly earnings results on Thursday, April 20th. The financial services provider reported $0.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.09. The firm had revenue of $553 million for the quarter, compared to analyst estimates of $532.43 million. E*TRADE Financial Corporation had a net margin of 26.90% and a return on equity of 9.09%. The business’s revenue was up 17.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.43 earnings per share. Analysts anticipate that E*TRADE Financial Corporation will post $1.96 EPS for the current year.
A number of brokerages recently commented on ETFC. Zacks Investment Research downgraded shares of E*TRADE Financial Corporation from a “hold” rating to a “sell” rating in a research report on Monday, April 3rd. Instinet reiterated a “buy” rating and set a $44.00 price target (up from $42.00) on shares of E*TRADE Financial Corporation in a research report on Sunday, April 23rd. Deutsche Bank AG reiterated a “buy” rating and set a $40.00 price target (up from $39.00) on shares of E*TRADE Financial Corporation in a research report on Sunday, April 23rd. SunTrust Banks, Inc. reduced their price target on shares of E*TRADE Financial Corporation to $40.00 in a research report on Thursday, March 2nd. Finally, BidaskClub upgraded shares of E*TRADE Financial Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $36.12.
In other news, insider Rodger A. Lawson sold 7,947 shares of the business’s stock in a transaction on Monday, March 27th. The shares were sold at an average price of $33.03, for a total value of $262,489.41. Following the sale, the insider now owns 94,910 shares of the company’s stock, valued at $3,134,877.30. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.17% of the company’s stock.
E*TRADE Financial Corporation Company Profile
E*Trade Financial Corporation is a financial services company. The Company provides online 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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