E*TRADE Financial Corporation (ETFC) Shares Bought by Israel Discount Bank of New York

Israel Discount Bank of New York increased its holdings in shares of E*TRADE Financial Corporation (NASDAQ:ETFC) by 31.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,765 shares of the financial services provider’s stock after buying an additional 2,090 shares during the quarter. Israel Discount Bank of New York’s holdings in E*TRADE Financial Corporation were worth $334,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Advisors Asset Management Inc. raised its stake in E*TRADE Financial Corporation by 80.8% during the 2nd quarter. Advisors Asset Management Inc. now owns 3,239 shares of the financial services provider’s stock worth $123,000 after buying an additional 1,448 shares during the period. Exane Derivatives acquired a new stake in E*TRADE Financial Corporation during the 2nd quarter worth $130,000. Financial Counselors Inc. acquired a new stake in E*TRADE Financial Corporation during the 2nd quarter worth $203,000. Meeder Asset Management Inc. raised its stake in E*TRADE Financial Corporation by 163.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 5,656 shares of the financial services provider’s stock worth $215,000 after buying an additional 3,513 shares during the period. Finally, Eagle Global Advisors LLC acquired a new stake in E*TRADE Financial Corporation during the 2nd quarter worth $221,000. 92.65% of the stock is currently owned by institutional investors and hedge funds.

In other E*TRADE Financial Corporation news, CFO Michael A. Pizzi sold 9,977 shares of the stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $39.41, for a total value of $393,193.57. Following the completion of the sale, the chief financial officer now owns 110,142 shares in the company, valued at approximately $4,340,696.22. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Karl A. Roessner sold 14,898 shares of the stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $39.41, for a total transaction of $587,130.18. Following the completion of the sale, the chief executive officer now owns 232,702 shares of the company’s stock, valued at approximately $9,170,785.82. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,571 shares of company stock valued at $1,216,708. Company insiders own 0.17% of the company’s stock.

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ETFC has been the topic of several research analyst reports. Deutsche Bank AG reaffirmed a “buy” rating and set a $41.00 price objective (up previously from $40.00) on shares of E*TRADE Financial Corporation in a research note on Monday, May 15th. Morgan Stanley reissued an “equal weight” rating and issued a $40.00 price target (up previously from $38.00) on shares of E*TRADE Financial Corporation in a research note on Monday, July 10th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $44.00 price target on shares of E*TRADE Financial Corporation in a research note on Friday, July 21st. SunTrust Banks, Inc. lifted their price target on E*TRADE Financial Corporation from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Friday, June 16th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $49.00 price target (up previously from $43.00) on shares of E*TRADE Financial Corporation in a research note on Saturday, July 22nd. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $41.61.

Shares of E*TRADE Financial Corporation (NASDAQ:ETFC) traded up 0.43% during trading on Friday, hitting $39.66. The stock had a trading volume of 2,311,768 shares. The company has a market capitalization of $10.92 billion, a P/E ratio of 18.53 and a beta of 1.46. The firm has a 50-day moving average of $40.70 and a 200 day moving average of $37.01. E*TRADE Financial Corporation has a 1-year low of $25.96 and a 1-year high of $42.19.

E*TRADE Financial Corporation (NASDAQ:ETFC) last posted its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.04. The firm had revenue of $577 million during the quarter, compared to analyst estimates of $553.31 million. E*TRADE Financial Corporation had a net margin of 28.42% and a return on equity of 9.06%. The company’s revenue for the quarter was up 21.7% on a year-over-year basis. During the same quarter last year, the business posted $0.48 EPS. Equities research analysts predict that E*TRADE Financial Corporation will post $2.25 earnings per share for the current fiscal year.

E*TRADE Financial Corporation announced that its board has approved a stock buyback plan on Thursday, July 20th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the financial services provider to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

E*TRADE Financial Corporation 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.

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

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