First Republic Investment Management Inc. Grows Stock Holdings in E*TRADE Financial Corp (NASDAQ:ETFC)

First Republic Investment Management Inc. lifted its stake in shares of E*TRADE Financial Corp (NASDAQ:ETFC) by 2.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,981 shares of the financial services provider’s stock after buying an additional 277 shares during the quarter. First Republic Investment Management Inc.’s holdings in E*TRADE Financial were worth $490,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. PCJ Investment Counsel Ltd. lifted its stake in shares of E*TRADE Financial by 43.4% in the second quarter. PCJ Investment Counsel Ltd. now owns 71,700 shares of the financial services provider’s stock worth $3,198,000 after buying an additional 21,700 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of E*TRADE Financial in the second quarter worth $1,373,000. Calamos Wealth Management LLC increased its stake in shares of E*TRADE Financial by 1.0% in the second quarter. Calamos Wealth Management LLC now owns 64,977 shares of the financial services provider’s stock worth $2,898,000 after purchasing an additional 647 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of E*TRADE Financial by 5.8% in the second quarter. JPMorgan Chase & Co. now owns 709,303 shares of the financial services provider’s stock worth $31,911,000 after purchasing an additional 39,178 shares in the last quarter. Finally, GSA Capital Partners LLP increased its stake in shares of E*TRADE Financial by 4.6% in the second quarter. GSA Capital Partners LLP now owns 5,424 shares of the financial services provider’s stock worth $242,000 after purchasing an additional 237 shares in the last quarter. Institutional investors own 90.33% of the company’s stock.

NASDAQ:ETFC traded up $0.48 during mid-day trading on Friday, hitting $45.31. The stock had a trading volume of 2,266,259 shares, compared to its average volume of 2,576,767. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $10.79 billion, a PE ratio of 11.65, a PEG ratio of 0.94 and a beta of 1.20. The stock has a 50-day simple moving average of $43.37 and a two-hundred day simple moving average of $46.51. E*TRADE Financial Corp has a twelve month low of $39.31 and a twelve month high of $56.44.

E*TRADE Financial (NASDAQ:ETFC) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.02. E*TRADE Financial had a return on equity of 18.44% and a net margin of 36.75%. The firm had revenue of $685.00 million during the quarter, compared to the consensus estimate of $751.35 million. During the same period last year, the company earned $0.95 earnings per share. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. Sell-side analysts predict that E*TRADE Financial Corp will post 4.31 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Monday, August 19th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date was Friday, August 16th. E*TRADE Financial’s dividend payout ratio is presently 14.40%.

E*TRADE Financial announced that its board has approved a stock repurchase plan on Thursday, July 18th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 12.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

ETFC has been the subject of several research analyst reports. Morgan Stanley raised their target price on shares of E*TRADE Financial from $55.00 to $57.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. JMP Securities lifted their price objective on shares of E*TRADE Financial to $63.00 and gave the company a “market perform” rating in a report on Friday, July 19th. Barclays boosted their target price on shares of E*TRADE Financial from $53.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. Zacks Investment Research cut shares of E*TRADE Financial from a “buy” rating to a “hold” rating in a research note on Friday, May 24th. Finally, Compass Point set a $52.00 target price on shares of E*TRADE Financial and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $55.46.

E*TRADE Financial Profile

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

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