Israel Discount Bank of New York increased its stake in shares of E*TRADE Financial Corp (NASDAQ:ETFC) by 5.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,595 shares of the financial services provider’s stock after buying an additional 607 shares during the quarter. Israel Discount Bank of New York’s holdings in E*TRADE Financial were worth $538,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ETFC. Norges Bank bought a new position in E*TRADE Financial during the 4th quarter worth $103,578,000. Oregon Public Employees Retirement Fund grew its stake in shares of E*TRADE Financial by 1,689.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,499,423 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 1,415,639 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of E*TRADE Financial by 19.9% in the fourth quarter. Victory Capital Management Inc. now owns 5,292,883 shares of the financial services provider’s stock worth $232,252,000 after purchasing an additional 878,417 shares in the last quarter. Brandywine Global Investment Management LLC grew its stake in shares of E*TRADE Financial by 344.8% in the fourth quarter. Brandywine Global Investment Management LLC now owns 1,048,004 shares of the financial services provider’s stock worth $45,987,000 after purchasing an additional 812,405 shares in the last quarter. Finally, Boston Partners grew its stake in shares of E*TRADE Financial by 23.2% in the fourth quarter. Boston Partners now owns 4,092,445 shares of the financial services provider’s stock worth $179,576,000 after purchasing an additional 770,524 shares in the last quarter. Hedge funds and other institutional investors own 92.64% of the company’s stock.

In related news, Director Rodger A. Lawson sold 41,322 shares of the firm’s stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $48.13, for a total transaction of $1,988,827.86. Following the completion of the transaction, the director now owns 114,753 shares of the company’s stock, valued at $5,523,061.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.20% of the company’s stock.

Several research firms have recently issued reports on ETFC. BidaskClub raised E*TRADE Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. Zacks Investment Research raised E*TRADE Financial from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research note on Thursday, May 9th. Morgan Stanley increased their price target on E*TRADE Financial from $59.00 to $61.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 7th. Barclays increased their price target on E*TRADE Financial to $55.00 and gave the stock an “overweight” rating in a research note on Friday, January 25th. Finally, UBS Group cut E*TRADE Financial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $58.00 to $51.00 in a research note on Wednesday, February 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the stock. E*TRADE Financial presently has a consensus rating of “Buy” and a consensus target price of $59.67.

ETFC stock traded down $0.55 during trading hours on Wednesday, hitting $47.96. 2,129 shares of the stock traded hands, compared to its average volume of 2,550,042. E*TRADE Financial Corp has a one year low of $40.41 and a one year high of $66.46. The stock has a market capitalization of $11.73 billion, a P/E ratio of 12.31, a P/E/G ratio of 1.01 and a beta of 1.16. The company has a quick ratio of 0.24, a current ratio of 0.24 and a debt-to-equity ratio of 0.28.

E*TRADE Financial (NASDAQ:ETFC) last announced its earnings results on Wednesday, April 17th. The financial services provider reported $1.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.16. E*TRADE Financial had a return on equity of 18.06% and a net margin of 37.50%. The business had revenue of $755.00 million during the quarter, compared to analysts’ expectations of $738.04 million. During the same quarter last year, the business posted $0.88 earnings per share. The company’s quarterly revenue was up 6.6% on a year-over-year basis. On average, sell-side analysts anticipate that E*TRADE Financial Corp will post 4.35 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 13th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, May 10th. This represents a $0.56 annualized dividend and a yield of 1.17%. E*TRADE Financial’s dividend payout ratio is currently 14.40%.

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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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