WESPAC Advisors LLC Acquires New Position in E-Trade (ETFC)

WESPAC Advisors LLC acquired a new stake in shares of E-Trade (NASDAQ:ETFC) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 12,714 shares of the financial services provider’s stock, valued at approximately $704,000.

Other hedge funds have also recently bought and sold shares of the company. CNB Bank purchased a new stake in E-Trade during the fourth quarter valued at about $114,000. Financial Gravity Companies Inc. acquired a new position in shares of E-Trade in the 4th quarter valued at about $202,000. Private Advisor Group LLC acquired a new position in shares of E-Trade in the 4th quarter valued at about $204,000. Ballentine Partners LLC acquired a new position in shares of E-Trade in the 4th quarter valued at about $206,000. Finally, IBM Retirement Fund acquired a new position in shares of E-Trade in the 4th quarter valued at about $207,000. 93.97% of the stock is owned by institutional investors.

In related news, insider Brent Simonich sold 7,680 shares of the stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $53.00, for a total value of $407,040.00. Following the transaction, the insider now owns 26,240 shares in the company, valued at $1,390,720. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.12% of the company’s stock.

A number of equities analysts have recently weighed in on the company. Morgan Stanley set a $74.00 target price on E-Trade and gave the company a “buy” rating in a report on Wednesday, April 25th. SunTrust Banks upped their target price on E-Trade from $3.70 to $70.00 and gave the company a “buy” rating in a report on Friday, April 20th. Credit Suisse Group upped their target price on E-Trade from $70.00 to $71.00 and gave the company an “outperform” rating in a report on Friday, April 20th. JMP Securities reiterated a “positive” rating and issued a $64.00 target price (up previously from $60.00) on shares of E-Trade in a report on Friday, April 20th. Finally, Raymond James upgraded E-Trade from an “outperform” rating to a “strong-buy” rating in a report on Monday, March 12th. Two research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company. E-Trade has a consensus rating of “Buy” and an average price target of $59.18.

E-Trade opened at $64.39 on Thursday, Marketbeat.com reports. E-Trade has a 52 week low of $63.86 and a 52 week high of $64.49. The company has a market capitalization of $16.94 billion, a P/E ratio of 29.40, a PEG ratio of 1.06 and a beta of 1.29. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.27 and a current ratio of 0.27.

E-Trade (NASDAQ:ETFC) last released its quarterly earnings data on Thursday, April 19th. The financial services provider reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.09. E-Trade had a return on equity of 11.64% and a net margin of 28.40%. The firm had revenue of $708.00 million for the quarter, compared to the consensus estimate of $686.31 million. During the same quarter in the prior year, the company posted $0.48 earnings per share. The firm’s revenue was up 28.0% on a year-over-year basis. sell-side analysts anticipate that E-Trade will post 3.64 EPS for the current year.

E-Trade Company Profile

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 (NASDAQ:ETFC)

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