Rainier Investment Management LLC cut its stake in E-Trade Financial Corp. (NASDAQ:ETFC) by 47.9% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 466,400 shares of the company’s stock after selling 428,330 shares during the period. Rainier Investment Management LLC owned approximately 0.17% of E-Trade Financial Corp. worth $10,957,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Zacks Investment Management boosted its stake in E-Trade Financial Corp. by 4.3% in the second quarter. Zacks Investment Management now owns 38,343 shares of the company’s stock valued at $901,000 after buying an additional 1,570 shares in the last quarter. C M Bidwell & Associates Ltd. bought a new stake in E-Trade Financial Corp. during the second quarter valued at $7,219,000. Visium Asset Management LP boosted its stake in E-Trade Financial Corp. by 45.2% in the second quarter. Visium Asset Management LP now owns 395,591 shares of the company’s stock valued at $9,292,000 after buying an additional 123,215 shares during the period. Espalier Global Management LLC bought a new stake in E-Trade Financial Corp. during the second quarter valued at $1,661,000. Finally, Pacer Advisors Inc. boosted its stake in E-Trade Financial Corp. by 512.0% in the second quarter. Pacer Advisors Inc. now owns 28,641 shares of the company’s stock valued at $672,000 after buying an additional 23,961 shares during the period. Institutional investors and hedge funds own 91.25% of the company’s stock.

Institutional Ownership by Quarter for E-Trade Financial Corp. (NASDAQ:ETFC)

Shares of E-Trade Financial Corp. (NASDAQ:ETFC) traded up 2.75% on Friday, reaching $32.45. 5,493,963 shares of the company were exchanged. E-Trade Financial Corp. has a 52 week low of $19.61 and a 52 week high of $32.49. The company has a market capitalization of $8.90 billion, a price-to-earnings ratio of 17.91 and a beta of 1.69. The company’s 50-day moving average is $28.78 and its 200-day moving average is $26.42.

E-Trade Financial Corp. (NASDAQ:ETFC) last released its quarterly earnings data on Thursday, October 20th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.13. The company had revenue of $486 million for the quarter, compared to the consensus estimate of $645 million. E-Trade Financial Corp. had a return on equity of 8.31% and a net margin of 27.25%. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period last year, the business posted $0.48 EPS. On average, equities analysts expect that E-Trade Financial Corp. will post $1.82 EPS for the current fiscal year.

Several analysts have recently weighed in on the stock. Nomura restated a “buy” rating and set a $32.00 price objective (up previously from $30.00) on shares of E-Trade Financial Corp. in a research report on Monday, July 25th. Deutsche Bank AG raised their price objective on shares of E-Trade Financial Corp. from $26.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, July 18th. Goldman Sachs Group Inc. cut shares of E-Trade Financial Corp. from a “buy” rating to a “neutral” rating and set a $26.00 price objective on the stock. in a research report on Friday, July 22nd. Barclays PLC set a $30.00 price objective on shares of E-Trade Financial Corp. and gave the company a “buy” rating in a research report on Tuesday, August 9th. Finally, Credit Agricole SA restated an “outperform” rating and set a $29.00 price objective on shares of E-Trade Financial Corp. in a research report on Friday, September 16th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $31.76.

E-Trade Financial Corp. Company Profile

E*Trade Financial Corporation is a financial services company. The Company provides 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.

5 Day Chart for NASDAQ:ETFC

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