E*TRADE Financial Corp (ETFC) : First Mercantile Trust Co reduced its stake in E*TRADE Financial Corp by 34.67% during the most recent quarter end. The investment management company now holds a total of 37,547 shares of E*TRADE Financial Corp which is valued at $1,109,889 after selling 19,925 shares in E*TRADE Financial Corp , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.E*TRADE Financial Corp makes up approximately 0.15% of First Mercantile Trust Co’s portfolio.
Other Hedge Funds, Including , Advisory Services Network sold out all of its stake in ETFC during the most recent quarter. The investment firm sold 82 shares of ETFC which is valued $2,424.Chevy Chase Trust Holdings reduced its stake in ETFC by selling 9,729 shares or 4.08% in the most recent quarter. The Hedge Fund company now holds 228,959 shares of ETFC which is valued at $6,788,634. E*TRADE Financial Corp makes up approx 0.04% of Chevy Chase Trust Holdings’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in ETFC by selling 12,612 shares or 29.18% in the most recent quarter. The Hedge Fund company now holds 30,609 shares of ETFC which is valued at $907,557.Independent Portfolio Consultants boosted its stake in ETFC in the latest quarter, The investment management firm added 145 additional shares and now holds a total of 17,405 shares of E*TRADE Financial Corp which is valued at $516,058. E*TRADE Financial Corp makes up approx 0.16% of Independent Portfolio Consultants’s portfolio. Washington Trust Bank added ETFC to its portfolio by purchasing 28 company shares during the most recent quarter which is valued at $830.
E*TRADE Financial Corp closed down -0.09 points or -0.30% at $29.56 with 28,34,058 shares getting traded on Friday. Post opening the session at $29.63, the shares hit an intraday low of $29.28 and an intraday high of $29.69 and the price fluctuated in this range throughout the day.Shares ended Friday 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. Morgan Stanley Initiated E*TRADE Financial Corp on Sep 26, 2016 to “Equal-Weight”, Price Target of the shares are set at $29.Credit Suisse Resumed E*TRADE Financial Corp on Sep 21, 2016 to “Outperform”, Price Target of the shares are set at $33.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 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.