Systematic Financial Management Lp Lowers stake in E*TRADE Financial Corp (ETFC)

E*TRADE Financial Corp (ETFC) : Systematic Financial Management Lp reduced its stake in E*TRADE Financial Corp by 24.69% during the most recent quarter end. The investment management company now holds a total of 4,107,096 shares of E*TRADE Financial Corp which is valued at $135,862,736 after selling 1,346,301 shares in E*TRADE Financial Corp , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.E*TRADE Financial Corp makes up approximately 1.92% of Systematic Financial Management Lp’s portfolio.

Other Hedge Funds, Including , Bokf Na reduced its stake in ETFC by selling 15,368 shares or 22.24% in the most recent quarter. The Hedge Fund company now holds 53,721 shares of ETFC which is valued at $1,696,509. E*TRADE Financial Corp makes up approx 0.06% of Bokf Na’s portfolio.Pacer Advisors boosted its stake in ETFC in the latest quarter, The investment management firm added 2,118 additional shares and now holds a total of 30,759 shares of E*TRADE Financial Corp which is valued at $971,369. E*TRADE Financial Corp makes up approx 0.15% of Pacer Advisors’s portfolio.Ngam Advisors boosted its stake in ETFC in the latest quarter, The investment management firm added 10,966 additional shares and now holds a total of 152,710 shares of E*TRADE Financial Corp which is valued at $4,219,377. E*TRADE Financial Corp makes up approx 0.06% of Ngam Advisors’s portfolio.World Asset Management Inc boosted its stake in ETFC in the latest quarter, The investment management firm added 63 additional shares and now holds a total of 26,742 shares of E*TRADE Financial Corp which is valued at $753,055. E*TRADE Financial Corp makes up approx 0.03% of World Asset Management Inc’s portfolio.

E*TRADE Financial Corp closed down -0.05 points or -0.15% at $34.06 with 28,41,974 shares getting traded on Monday. Post opening the session at $34.19, the shares hit an intraday low of $34 and an intraday high of $34.465 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, E*TRADE Financial Corp reported $0.51 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on Oct 20, 2016. Analyst had a consensus of $0.38. The company had revenue of $486.00 million for the quarter, compared to analysts expectations of $471.74 million. The company’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 EPS.

Many Wall Street Analysts have commented on E*TRADE Financial Corp. E*TRADE Financial Corp was Downgraded by BofA/Merrill to ” Neutral” on Oct 13, 2016. 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.

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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