E*TRADE Financial Target of Unusually High Options Trading (ETFC)

E*TRADE Financial Corp (NASDAQ:ETFC) was the target of unusually large options trading on Tuesday. Investors acquired 23,618 call options on the company. This represents an increase of 3,903% compared to the typical daily volume of 590 call options.

In other E*TRADE Financial news, insider Michael John Curcio sold 33,474 shares of the company’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $40.38, for a total transaction of $1,351,680.12. Following the completion of the sale, the insider now owns 267,151 shares in the company, valued at $10,787,557.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Karl A. Roessner sold 8,578 shares of E*TRADE Financial stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $40.49, for a total transaction of $347,323.22. Following the completion of the sale, the chief executive officer now owns 225,731 shares of the company’s stock, valued at approximately $9,139,848.19. The disclosure for this sale can be found here. 0.17% of the stock is owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. Valeo Financial Advisors LLC bought a new position in shares of E*TRADE Financial during the 3rd quarter valued at about $136,000. Advisors Asset Management Inc. lifted its holdings in E*TRADE Financial by 80.8% in 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. Quadrant Capital Group LLC lifted its holdings in E*TRADE Financial by 21.8% in 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 during the period. Krilogy Financial LLC raised its position in shares of E*TRADE Financial by 7.5% in the 2nd quarter. Krilogy Financial LLC now owns 3,710 shares of the financial services provider’s stock worth $141,000 after acquiring an additional 260 shares in the last quarter. Finally, Visionary Asset Management Inc. bought a new position in E*TRADE Financial during the 3rd quarter valued at approximately $209,000. Hedge funds and other institutional investors own 93.40% of the company’s stock.

E*TRADE Financial (NASDAQ:ETFC) opened at $48.14 on Friday. E*TRADE Financial has a 12-month low of $32.25 and a 12-month high of $48.72. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.27 and a current ratio of 0.27. The firm has a market capitalization of $12,410.82, a P/E ratio of 23.39, a price-to-earnings-growth ratio of 1.64 and a beta of 1.44.

E*TRADE Financial (NASDAQ:ETFC) last released its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.04. E*TRADE Financial had a return on equity of 9.34% and a net margin of 27.35%. The firm had revenue of $599.00 million during the quarter, compared to the consensus estimate of $598.96 million. During the same quarter in the prior year, the firm posted $0.51 EPS. The business’s revenue was up 23.3% on a year-over-year basis. sell-side analysts expect that E*TRADE Financial will post 2.26 earnings per share for the current year.

Several equities analysts have recently issued reports on ETFC shares. Barclays assumed coverage on shares of E*TRADE Financial in a research note on Friday, September 8th. They issued an “overweight” rating and a $45.00 price objective on the stock. Deutsche Bank raised their target price on shares of E*TRADE Financial from $48.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. Bank of America upgraded shares of E*TRADE Financial from a “neutral” rating to a “buy” rating and raised their price target for the stock from $44.00 to $49.00 in a report on Monday, October 9th. SunTrust Banks restated a “buy” rating and set a $50.00 price target on shares of E*TRADE Financial in a report on Friday, October 20th. Finally, Zacks Investment Research upgraded shares of E*TRADE Financial from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Tuesday, October 10th. Six research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. E*TRADE Financial currently has an average rating of “Buy” and a consensus target price of $46.79.

WARNING: This story was first published by American Banking News and is the sole property of of American Banking News. If you are viewing this story on another website, it was copied illegally and reposted in violation of US & international trademark and copyright legislation. The original version of this story can be accessed at https://www.americanbankingnews.com/2017/12/01/etrade-financial-target-of-unusually-high-options-trading-etfc.html.

About E*TRADE Financial

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.

Receive News & Ratings for E*TRADE Financial Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for E*TRADE Financial Corp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply