ValuEngine downgraded shares of E*TRADE Financial (NASDAQ:ETFC) from a buy rating to a hold rating in a research report sent to investors on Tuesday, ValuEngine reports.
A number of other equities research analysts have also recently weighed in on ETFC. Barclays increased their price target on E*TRADE Financial from $32.00 to $39.00 and gave the company an underweight rating in a research note on Wednesday, November 27th. Jefferies Financial Group set a $44.00 price target on E*TRADE Financial and gave the company a buy rating in a report on Thursday, October 10th. Keefe, Bruyette & Woods cut shares of E*TRADE Financial from an outperform rating to a market perform rating and reduced their price objective for the stock from $55.00 to $45.50 in a research report on Monday, September 9th. Raymond James upped their price objective on shares of E*TRADE Financial from $45.00 to $47.00 and gave the company an outperform rating in a report on Friday, October 18th. Finally, Deutsche Bank increased their price objective on shares of E*TRADE Financial from $35.00 to $36.00 and gave the company a hold rating in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. E*TRADE Financial presently has an average rating of Buy and a consensus price target of $47.13.
NASDAQ ETFC traded up $0.32 during trading on Tuesday, reaching $45.81. 3,559,722 shares of the company’s stock were exchanged, compared to its average volume of 3,121,976. The business has a 50 day moving average price of $43.03 and a 200-day moving average price of $43.80. The stock has a market capitalization of $11.21 billion, a P/E ratio of 11.78, a PEG ratio of 1.45 and a beta of 1.22. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.28 and a quick ratio of 0.28. E*TRADE Financial has a fifty-two week low of $34.68 and a fifty-two week high of $52.35.
The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were paid a $0.14 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.56 annualized dividend and a yield of 1.22%. E*TRADE Financial’s dividend payout ratio (DPR) is presently 14.40%.
In other E*TRADE Financial news, EVP Michael John Curcio sold 53,584 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $45.18, for a total value of $2,420,925.12. Following the completion of the sale, the executive vice president now owns 149,159 shares of the company’s stock, valued at approximately $6,739,003.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Rodger A. Lawson sold 5,109 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $45.18, for a total transaction of $230,824.62. Following the completion of the sale, the director now directly owns 113,739 shares of the company’s stock, valued at approximately $5,138,728.02. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.
Several large investors have recently made changes to their positions in ETFC. APG Asset Management N.V. boosted its stake in shares of E*TRADE Financial by 17.4% in the second quarter. APG Asset Management N.V. now owns 29,000 shares of the financial services provider’s stock valued at $1,136,000 after buying an additional 4,300 shares during the period. Voya Financial Advisors Inc. raised its holdings in E*TRADE Financial by 5.5% in the 3rd quarter. Voya Financial Advisors Inc. now owns 6,752 shares of the financial services provider’s stock valued at $292,000 after acquiring an additional 355 shares in the last quarter. 180 Wealth Advisors LLC bought a new stake in shares of E*TRADE Financial during the 3rd quarter valued at $587,000. Bank of Nova Scotia lifted its position in shares of E*TRADE Financial by 4.0% during the 2nd quarter. Bank of Nova Scotia now owns 1,614,644 shares of the financial services provider’s stock valued at $72,013,000 after acquiring an additional 62,599 shares during the period. Finally, BlackRock Inc. grew its holdings in shares of E*TRADE Financial by 2.4% during the 2nd quarter. BlackRock Inc. now owns 19,972,522 shares of the financial services provider’s stock worth $890,775,000 after purchasing an additional 469,538 shares in the last quarter. Hedge funds and other institutional investors own 84.60% of the company’s stock.
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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