E*TRADE Financial Corp (ETFC) Stake Increased by Fifth Third Bancorp

Fifth Third Bancorp grew its stake in E*TRADE Financial Corp (NASDAQ:ETFC) by 9.9% in the third quarter, Holdings Channel reports. The fund owned 1,469,028 shares of the financial services provider’s stock after acquiring an additional 131,991 shares during the period. Fifth Third Bancorp’s holdings in E*TRADE Financial were worth $76,962,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in ETFC. BlackRock Inc. increased its stake in shares of E*TRADE Financial by 16.7% in the 2nd quarter. BlackRock Inc. now owns 25,360,724 shares of the financial services provider’s stock valued at $1,551,060,000 after acquiring an additional 3,638,467 shares during the last quarter. Voya Investment Management LLC increased its stake in shares of E*TRADE Financial by 2,043.1% in the 2nd quarter. Voya Investment Management LLC now owns 2,921,063 shares of the financial services provider’s stock valued at $178,653,000 after acquiring an additional 2,784,761 shares during the last quarter. FMR LLC increased its stake in shares of E*TRADE Financial by 10.5% in the 2nd quarter. FMR LLC now owns 15,313,266 shares of the financial services provider’s stock valued at $936,560,000 after acquiring an additional 1,452,296 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of E*TRADE Financial by 2,093.8% in the 3rd quarter. Canada Pension Plan Investment Board now owns 923,440 shares of the financial services provider’s stock valued at $48,379,000 after acquiring an additional 881,347 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in shares of E*TRADE Financial by 23.3% in the 3rd quarter. First Trust Advisors LP now owns 4,659,032 shares of the financial services provider’s stock valued at $244,087,000 after acquiring an additional 879,210 shares during the last quarter. 94.52% of the stock is owned by institutional investors.

In other news, insider Rodger A. Lawson purchased 10,000 shares of E*TRADE Financial stock in a transaction on Monday, November 5th. The stock was purchased at an average price of $51.27 per share, with a total value of $512,700.00. Following the transaction, the insider now directly owns 109,191 shares in the company, valued at approximately $5,598,222.57. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Joshua Weinreich purchased 5,725 shares of E*TRADE Financial stock in a transaction on Tuesday, November 6th. The shares were purchased at an average cost of $52.33 per share, with a total value of $299,589.25. Following the transaction, the director now owns 7,318 shares in the company, valued at $382,950.94. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 32,668 shares of company stock valued at $1,685,354. Insiders own 0.12% of the company’s stock.

Shares of ETFC opened at $47.40 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.28 and a quick ratio of 0.28. E*TRADE Financial Corp has a 52-week low of $45.97 and a 52-week high of $66.46. The company has a market capitalization of $12.37 billion, a P/E ratio of 21.64, a price-to-earnings-growth ratio of 0.75 and a beta of 1.09.

E*TRADE Financial (NASDAQ:ETFC) last issued its quarterly earnings data on Thursday, October 18th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.17. E*TRADE Financial had a return on equity of 15.45% and a net margin of 32.83%. The business had revenue of $720.00 million during the quarter, compared to analyst estimates of $710.62 million. During the same period in the previous year, the firm earned $0.49 EPS. E*TRADE Financial’s quarterly revenue was up 20.2% compared to the same quarter last year. Equities analysts forecast that E*TRADE Financial Corp will post 3.85 EPS for the current year.

E*TRADE Financial declared that its board has authorized a share repurchase program on Thursday, October 18th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to buy up to 7.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

The company also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Tuesday, October 30th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Monday, October 29th. E*TRADE Financial’s dividend payout ratio (DPR) is currently 25.57%.

Several brokerages recently issued reports on ETFC. BidaskClub upgraded E*TRADE Financial from a “sell” rating to a “hold” rating in a research report on Saturday, August 18th. Deutsche Bank decreased their price objective on E*TRADE Financial from $72.00 to $70.00 and set a “buy” rating for the company in a research report on Wednesday, August 22nd. Wolfe Research began coverage on E*TRADE Financial in a research report on Tuesday, September 25th. They issued a “market perform” rating for the company. Zacks Investment Research upgraded E*TRADE Financial from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research report on Tuesday, September 25th. Finally, Jefferies Financial Group upgraded E*TRADE Financial from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a research report on Wednesday, September 19th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $64.12.

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E*TRADE Financial 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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Want to see what other hedge funds are holding ETFC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for E*TRADE Financial Corp (NASDAQ:ETFC).

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

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