E*TRADE Financial Corporation Sees Unusually High Options Volume (ETFC)

E*TRADE Financial Corporation (NASDAQ:ETFC) was the recipient of unusually large options trading activity on Friday. Investors acquired 20,909 call options on the company. This is an increase of 1,190% compared to the typical volume of 1,621 call options.

A number of brokerages recently weighed in on ETFC. Jefferies Group LLC reaffirmed a “hold” rating on shares of E*TRADE Financial Corporation in a research note on Monday, July 10th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $43.00 target price on shares of E*TRADE Financial Corporation in a research note on Friday, July 14th. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $50.00 target price on shares of E*TRADE Financial Corporation in a research note on Monday, September 18th. Bank of America Corporation raised shares of E*TRADE Financial Corporation from a “neutral” rating to a “buy” rating in a research note on Monday. Finally, Rosenblatt Securities began coverage on shares of E*TRADE Financial Corporation in a research note on Thursday, July 13th. They issued a “buy” rating and a $43.00 target price for the company. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $43.27.

Shares of E*TRADE Financial Corporation (ETFC) opened at 43.95 on Monday. The company has a market capitalization of $12.10 billion, a PE ratio of 20.54 and a beta of 1.47. E*TRADE Financial Corporation has a one year low of $27.33 and a one year high of $45.70. The stock has a 50 day moving average of $41.53 and a 200-day moving average of $37.96.

E*TRADE Financial Corporation (NASDAQ:ETFC) last posted its earnings results on Thursday, July 20th. The financial services provider reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.04. E*TRADE Financial Corporation had a net margin of 28.42% and a return on equity of 9.06%. The firm had revenue of $577.00 million for the quarter, compared to analysts’ expectations of $553.31 million. During the same quarter last year, the firm earned $0.48 EPS. The company’s quarterly revenue was up 21.7% compared to the same quarter last year. On average, equities analysts forecast that E*TRADE Financial Corporation will post $2.24 earnings per share for the current fiscal year.

E*TRADE Financial Corporation declared that its board has approved a stock buyback program on Thursday, July 20th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 9.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

In related news, insider Brent Simonich sold 5,696 shares of the company’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $41.50, for a total value of $236,384.00. Following the completion of the transaction, the insider now directly owns 31,557 shares of the company’s stock, valued at approximately $1,309,615.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Michael A. Pizzi sold 9,977 shares of the company’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $39.41, for a total transaction of $393,193.57. Following the completion of the transaction, the chief financial officer now directly owns 110,142 shares of the company’s stock, valued at $4,340,696.22. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,623 shares of company stock valued at $2,915,711. Company insiders own 0.17% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Advisors Asset Management Inc. lifted its position in shares of 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 in the last quarter. Exane Derivatives bought a new position in shares of E*TRADE Financial Corporation during the 2nd quarter worth approximately $130,000. Quadrant Capital Group LLC lifted its position in shares of E*TRADE Financial Corporation by 21.8% during the 2nd quarter. Quadrant Capital Group LLC now owns 3,436 shares of the financial services provider’s stock worth $121,000 after buying an additional 614 shares in the last quarter. Krilogy Financial LLC lifted its position in shares of E*TRADE Financial Corporation by 7.5% during the 2nd quarter. Krilogy Financial LLC now owns 3,710 shares of the financial services provider’s stock worth $141,000 after buying an additional 260 shares in the last quarter. Finally, Financial Counselors Inc. bought a new position in shares of E*TRADE Financial Corporation during the 2nd quarter worth approximately $203,000. 92.64% of the stock is currently owned

A number of brokerages recently weighed in on ETFC. Jefferies Group LLC reaffirmed a “hold” rating on shares of E*TRADE Financial Corporation in a research note on Monday, July 10th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $43.00 target price on shares of E*TRADE Financial Corporation in a research note on Friday, July 14th. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $50.00 target price on shares of E*TRADE Financial Corporation in a research note on Monday, September 18th. Bank of America Corporation raised shares of E*TRADE Financial Corporation from a “neutral” rating to a “buy” rating in a research note on Monday. Finally, Rosenblatt Securities began coverage on shares of E*TRADE Financial Corporation in a research note on Thursday, July 13th. They issued a “buy” rating and a $43.00 target price for the company. Six investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $43.27.

Shares of E*TRADE Financial Corporation (ETFC) opened at 43.95 on Monday. The company has a market capitalization of $12.10 billion, a PE ratio of 20.54 and a beta of 1.47. E*TRADE Financial Corporation has a one year low of $27.33 and a one year high of $45.70. The stock has a 50 day moving average of $41.53 and a 200-day moving average of $37.96.

E*TRADE Financial Corporation (NASDAQ:ETFC) last posted its earnings results on Thursday, July 20th. The financial services provider reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.04. E*TRADE Financial Corporation had a net margin of 28.42% and a return on equity of 9.06%. The firm had revenue of $577.00 million for the quarter, compared to analysts’ expectations of $553.31 million. During the same quarter last year, the firm earned $0.48 EPS. The company’s quarterly revenue was up 21.7% compared to the same quarter last year. On average, equities analysts forecast that E*TRADE Financial Corporation will post $2.24 earnings per share for the current fiscal year.

E*TRADE Financial Corporation declared that its board has approved a stock buyback program on Thursday, July 20th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 9.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

In related news, insider Brent Simonich sold 5,696 shares of the company’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $41.50, for a total value of $236,384.00. Following the completion of the transaction, the insider now directly owns 31,557 shares of the company’s stock, valued at approximately $1,309,615.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Michael A. Pizzi sold 9,977 shares of the company’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $39.41, for a total transaction of $393,193.57. Following the completion of the transaction, the chief financial officer now directly owns 110,142 shares of the company’s stock, valued at $4,340,696.22. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,623 shares of company stock valued at $2,915,711. Company insiders own 0.17% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Advisors Asset Management Inc. lifted its position in shares of 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 in the last quarter. Exane Derivatives bought a new position in shares of E*TRADE Financial Corporation during the 2nd quarter worth approximately $130,000. Quadrant Capital Group LLC lifted its position in shares of E*TRADE Financial Corporation by 21.8% during the 2nd quarter. Quadrant Capital Group LLC now owns 3,436 shares of the financial services provider’s stock worth $121,000 after buying an additional 614 shares in the last quarter. Krilogy Financial LLC lifted its position in shares of E*TRADE Financial Corporation by 7.5% during the 2nd quarter. Krilogy Financial LLC now owns 3,710 shares of the financial services provider’s stock worth $141,000 after buying an additional 260 shares in the last quarter. Finally, Financial Counselors Inc. bought a new position in shares of E*TRADE Financial Corporation during the 2nd quarter worth approximately $203,000. 92.64% of the stock is currently owned by hedge funds and other institutional investors.

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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.

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