E*TRADE Financial Corp (ETFC) Stake Raised by Wells Fargo & Company MN

Wells Fargo & Company MN lifted its position in shares of E*TRADE Financial Corp (NASDAQ:ETFC) by 8.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,411,719 shares of the financial services provider’s stock after purchasing an additional 184,841 shares during the period. Wells Fargo & Company MN owned about 0.89% of E*TRADE Financial worth $105,175,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Wedge Capital Management L L P NC lifted its position in E*TRADE Financial by 0.3% in the second quarter. Wedge Capital Management L L P NC now owns 23,923 shares of the financial services provider’s stock valued at $910,000 after acquiring an additional 62 shares during the last quarter. Sentry Investment Management LLC lifted its position in E*TRADE Financial by 0.6% in the second quarter. Sentry Investment Management LLC now owns 17,179 shares of the financial services provider’s stock valued at $653,000 after acquiring an additional 95 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in E*TRADE Financial by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 17,000 shares of the financial services provider’s stock valued at $647,000 after acquiring an additional 100 shares during the last quarter. CIBC Asset Management Inc lifted its position in E*TRADE Financial by 0.4% in the second quarter. CIBC Asset Management Inc now owns 26,191 shares of the financial services provider’s stock valued at $996,000 after acquiring an additional 106 shares during the last quarter. Finally, BlueMountain Capital Management LLC lifted its position in E*TRADE Financial by 0.6% in the second quarter. BlueMountain Capital Management LLC now owns 30,621 shares of the financial services provider’s stock valued at $1,165,000 after acquiring an additional 182 shares during the last quarter. 94.32% of the stock is owned by institutional investors and hedge funds.

Shares of E*TRADE Financial Corp (NASDAQ:ETFC) opened at $50.54 on Tuesday. E*TRADE Financial Corp has a 1-year low of $32.25 and a 1-year high of $50.90. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.26. The company has a market cap of $13,102.25, a PE ratio of 24.69, a PEG ratio of 1.73 and a beta of 1.45.

E*TRADE Financial (NASDAQ:ETFC) last issued its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. E*TRADE Financial had a net margin of 27.35% and a return on equity of 9.34%. The business had revenue of $599.00 million for the quarter, compared to analyst estimates of $598.96 million. During the same period in the previous year, the business posted $0.51 earnings per share. The business’s revenue was up 23.3% compared to the same quarter last year. sell-side analysts anticipate that E*TRADE Financial Corp will post 2.26 EPS for the current fiscal year.

In other news, insider Michael John Curcio sold 33,474 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $40.38, for a total transaction of $1,351,680.12. Following the transaction, the insider now directly owns 267,151 shares in the company, valued at $10,787,557.38. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Karl A. Roessner sold 8,578 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $40.49, for a total transaction of $347,323.22. Following the transaction, the chief executive officer now owns 225,731 shares in the company, valued at $9,139,848.19. The disclosure for this sale can be found here. Insiders own 0.17% of the company’s stock.

ETFC has been the subject of a number of research reports. Barclays initiated coverage on shares of E*TRADE Financial in a research report on Friday, September 8th. They issued an “overweight” rating and a $45.00 price target for the company. SunTrust Banks reissued a “buy” rating and issued a $50.00 price target on shares of E*TRADE Financial in a research report on Monday, September 18th. Zacks Investment Research cut shares of E*TRADE Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, September 20th. Bank of America raised shares of E*TRADE Financial from a “neutral” rating to a “buy” rating and boosted their price target for the company from $44.00 to $49.00 in a research report on Monday, October 9th. Finally, Wells Fargo & Company upped their target price on shares of E*TRADE Financial from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Friday, October 20th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $47.40.

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

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