Economy

Mitsubishi UFJ Trust & Banking Corp Raises Position in E*TRADE Financial Corp (ETFC)

Here is a rundown on some insider market activity for E*TRADE Financial Corporation (NASDAQ:ETFC). Following the sale, the director now directly owns 50,925 shares of the company's stock, valued at $1,391,780.25. MD increased its stake in shares of E*TRADE Financial Corp by 5.2% in the third quarter. Bank of Nova Scotia now owns 614,202 shares of the financial services provider's stock worth $21,430,000 after buying an additional 256,788 shares in the last quarter. Aviva PLC lifted its holdings in shares of E*TRADE Financial Corporation by 6.1% in the second quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Flushing Financial Corporation during the second quarter worth about $221,000. Finally, Meeder Asset Management Inc. boosted its holdings in shares of E*TRADE Financial Corporation by 163.9% in the second quarter. The Manufacturers Life Insurance Company now owns 680,775 shares of the bank's stock worth $19,191,000 after buying an additional 8,096 shares in the last quarter. Hedge funds and other institutional investors own 92.64% of the company's stock.

The share price of E*TRADE Financial Corporation (NASDAQ:ETFC) was down -2.36% during the last trading session, with a day high of 45.70. The company's 50-day moving average price is $44.73 and its 200 day moving average price is $46.42. Flushing Financial Corporation has a 52-week low of $20.95 and a 52-week high of $31.96. The company has a market capitalization of $590.37 million, a price-to-earnings ratio of 17.23 and a beta of 0.86.

Equities researchers at Jefferies Group raised their Q3 2017 EPS estimates for E*TRADE Financial Corporation in a research note issued on Thursday. The firm had revenue of $553 million for the quarter, compared to analyst estimates of $532.43 million. The current market cap of E*TRADE Financial Corporation exhibits the basic determinant of asset allocation and risk-return parameters for its stocks. The company's revenue for the quarter was up 21.7% on a year-over-year basis. Analysts expect next quarter's EPS to be $0.58 and the next full year EPS is projected to be $2.51. Equities research analysts forecast that Flushing Financial Corporation will post $1.74 EPS for the current fiscal year.

Flushing Financial Corporation is the bank holding company for Flushing Bank (the Bank). This buyback authorization authorizes the financial services provider to purchase up to 9.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

FFIC has been the topic of a number of other reports. Zacks Investment Research lowered E*TRADE Financial Corporation from a "buy" rating to a "hold" rating in a report on Wednesday, September 20th.

Based on the latest brokerage notes which have been released to investors, 0 brokers have issued a rating of "strong buy", 2 brokers "buy", 3 brokers "neutral", 0 brokers "sell" and 0 brokers "strong sell". They now have a United States dollars 45 price target on the stock. Deutsche Bank AG reissued a "buy" rating and set a $40.00 target price (up previously from $39.00) on shares of E*TRADE Financial Corp in a report on Sunday, April 23rd.

07/25/2017 - E*TRADE Financial Corporation had its "equal-weight" rating reiterated by analysts at Morgan Stanley. The stock now has an average rating of "Buy" and an average target price of $43.27. A rating of 4 or 5 would represent a Sell recommendation. The stock was sold at an average price of $27.33, for a total transaction of $81,990.00. Following the transaction, the insider now directly owns 94,910 shares in the company, valued at approximately $3,134,877.30. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink.

In other news, insider Rodger A. Lawson sold 7,947 shares of the stock in a transaction dated Monday, March 27th. Burney Co. now owns 71,205 shares of the financial services provider's stock worth $2,683,000 after buying an additional 2,563 shares in the last quarter.

COPYRIGHT VIOLATION WARNING: This story was first published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this story on another domain, it was stolen and reposted in violation of United States & global copyright law. The original version of this story can be accessed at https://www.truebluetribune.com/2017/10/08/etrade-financial-corporation-expected-to-post-q3-2017-earnings-of-0-51-per-share-etfc.html. The value of the investment in E*TRADE Financial Corporation went from $10,150,000 to $10,727,000 a change of 5.7% for the reporting period. The Company also provides investor-focused banking products, primarily sweep deposits, to retail investors. It operates federally chartered savings banks with the primary objective of maximizing the value of deposits generated through its brokerage business.



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