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) 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.
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.
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