Pennant Capital Management buys $95,608,818 stake in E*TRADE Financial Corp (ETFC)

E*TRADE Financial Corp (ETFC) : Pennant Capital Management scooped up 835,000 additional shares in E*TRADE Financial Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 3,790,992 shares of E*TRADE Financial Corp which is valued at $95,608,818.E*TRADE Financial Corp makes up approximately 2.79% of Pennant Capital Management’s portfolio.

Other Hedge Funds, Including , Arizona State Retirement System reduced its stake in ETFC by selling 2,300 shares or 2.91% in the most recent quarter. The Hedge Fund company now holds 76,703 shares of ETFC which is valued at $1,934,450. E*TRADE Financial Corp makes up approx 0.02% of Arizona State Retirement System’s portfolio.Pacer Advisors boosted its stake in ETFC in the latest quarter, The investment management firm added 23,961 additional shares and now holds a total of 28,641 shares of E*TRADE Financial Corp which is valued at $722,326. E*TRADE Financial Corp makes up approx 0.11% of Pacer Advisors’s portfolio.Focused Wealth Management Inc reduced its stake in ETFC by selling 13 shares or 72.22% in the most recent quarter. The Hedge Fund company now holds 5 shares of ETFC which is valued at $126.Dimensional Fund Advisors Lp reduced its stake in ETFC by selling 145,056 shares or 6.73% in the most recent quarter. The Hedge Fund company now holds 2,009,997 shares of ETFC which is valued at $52,159,422. E*TRADE Financial Corp makes up approx 0.03% of Dimensional Fund Advisors Lp’s portfolio. Ropes Wealth Advisors sold out all of its stake in ETFC during the most recent quarter. The investment firm sold 94 shares of ETFC which is valued $2,400.

E*TRADE Financial Corp closed down -0.22 points or -0.83% at $26.16 with 28,40,163 shares getting traded on Thursday. Post opening the session at $26.52, the shares hit an intraday low of $25.84 and an intraday high of $26.61 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, E*TRADE Financial Corp reported $0.43 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $0.33. The company had revenue of $472.00 million for the quarter, compared to analysts expectations of $475.14 million. The company’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 EPS.

Many Wall Street Analysts have commented on E*TRADE Financial Corp. Shares were Reiterated by Compass Point on Jul 22, 2016 to “Buy” and Lowered the Price Target to $ 30 from a previous price target of $31 .E*TRADE Financial Corp was Downgraded by Goldman to ” Neutral” on Jul 22, 2016. Buckingham Research Initiated E*TRADE Financial Corp on Jul 13, 2016 to “Buy”, Price Target of the shares are set at $29.

E*Trade Financial Corporation is a financial services company and an online brokerage industry. The Company offers solutions for individual investors and stock plan participants. The Company offers its customers to take control of its financial futures by providing the products tools services and advice they need to meet their near and long term investing goals. The Company provides these services to customers both online and through their network of customer service representatives and Financial Consultants – over the phone and in person at 30 Company branches across the United States. The Company operates a bank with the primary purpose of maximizing the value of deposits generated though its brokerage business.

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