17,351 Shares in E*TRADE Financial Corp (NASDAQ:ETFC) Purchased by Occidental Asset Management LLC

Occidental Asset Management LLC bought a new position in shares of E*TRADE Financial Corp (NASDAQ:ETFC) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,351 shares of the financial services provider’s stock, valued at approximately $758,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. APG Asset Management N.V. lifted its position in E*TRADE Financial by 17.4% during the second quarter. APG Asset Management N.V. now owns 29,000 shares of the financial services provider’s stock worth $1,136,000 after buying an additional 4,300 shares during the period. Bank of Nova Scotia raised its holdings in shares of E*TRADE Financial by 4.0% in the 2nd quarter. Bank of Nova Scotia now owns 1,614,644 shares of the financial services provider’s stock worth $72,013,000 after purchasing an additional 62,599 shares during the period. Los Angeles Capital Management & Equity Research Inc. purchased a new position in shares of E*TRADE Financial in the 2nd quarter worth about $623,000. Westpac Banking Corp raised its holdings in shares of E*TRADE Financial by 80.5% in the 2nd quarter. Westpac Banking Corp now owns 28,636 shares of the financial services provider’s stock worth $1,277,000 after purchasing an additional 12,768 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in shares of E*TRADE Financial by 89.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 45,468 shares of the financial services provider’s stock worth $2,028,000 after purchasing an additional 21,516 shares during the period. Hedge funds and other institutional investors own 90.34% of the company’s stock.

A number of research firms have recently commented on ETFC. Barclays raised their price objective on E*TRADE Financial from $31.00 to $32.00 and gave the stock an “underweight” rating in a report on Friday. Deutsche Bank cut their price objective on E*TRADE Financial from $45.00 to $43.00 and set a “hold” rating on the stock in a report on Wednesday, August 21st. BidaskClub upgraded E*TRADE Financial from a “sell” rating to a “hold” rating in a report on Tuesday, September 17th. ValuEngine downgraded E*TRADE Financial from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 1st. Finally, JMP Securities raised their price objective on E*TRADE Financial to $63.00 and gave the stock a “market perform” rating in a report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the stock. E*TRADE Financial currently has a consensus rating of “Hold” and an average target price of $48.04.

Shares of NASDAQ:ETFC traded up $1.75 during mid-day trading on Friday, hitting $40.79. 646,644 shares of the company traded hands, compared to its average volume of 5,440,174. The firm has a market cap of $9.75 billion, a P/E ratio of 10.51, a PEG ratio of 1.37 and a beta of 1.21. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.27 and a current ratio of 0.27. E*TRADE Financial Corp has a 52-week low of $34.68 and a 52-week high of $54.44. The firm’s 50 day simple moving average is $41.54 and its 200 day simple moving average is $45.34.

E*TRADE Financial (NASDAQ:ETFC) last announced its earnings results on Thursday, October 17th. The financial services provider reported $1.08 EPS for the quarter, beating the consensus estimate of $1.01 by $0.07. The business had revenue of $767.00 million for the quarter, compared to the consensus estimate of $742.83 million. E*TRADE Financial had a return on equity of 18.44% and a net margin of 36.75%. The company’s revenue was up 6.5% on a year-over-year basis. During the same period last year, the business posted $1.00 EPS. Equities research analysts expect that E*TRADE Financial Corp will post 4.09 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 8th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.37%. E*TRADE Financial’s payout ratio is currently 14.40%.

E*TRADE Financial announced that its Board of Directors has approved a stock repurchase plan on Thursday, July 18th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 12.9% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

In related news, EVP Michael John Curcio sold 53,584 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $45.18, for a total transaction of $2,420,925.12. Following the sale, the executive vice president now directly owns 149,159 shares in the company, valued at approximately $6,739,003.62. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Rodger A. Lawson sold 5,109 shares of the firm’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 $230,824.62. Following the sale, the director now owns 113,739 shares in the company, valued at $5,138,728.02. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

E*TRADE Financial Company 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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