Sadoff Investment Management LLC Has $20,570,000 Stake in E-Trade Financial Corp. (ETFC)
Sadoff Investment Management LLC decreased its position in E-Trade Financial Corp. (NASDAQ:ETFC) by 0.4% during the third quarter, according to its most recent filing with the SEC. The firm owned 706,388 shares of the company’s stock after selling 2,761 shares during the period. E-Trade Financial Corp. comprises about 2.3% of Sadoff Investment Management LLC’s investment portfolio, making the stock its 20th largest position. Sadoff Investment Management LLC owned 0.26% of E-Trade Financial Corp. worth $20,570,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the company. Mizuho Asset Management Co. Ltd. purchased a new stake in shares of E-Trade Financial Corp. during the second quarter worth about $110,000. FNY Managed Accounts LLC boosted its stake in shares of E-Trade Financial Corp. by 128.3% in the second quarter. FNY Managed Accounts LLC now owns 6,850 shares of the company’s stock worth $161,000 after buying an additional 3,850 shares in the last quarter. I.G. Investment Management LTD. boosted its stake in shares of E-Trade Financial Corp. by 11.8% in the second quarter. I.G. Investment Management LTD. now owns 7,758 shares of the company’s stock worth $182,000 after buying an additional 821 shares in the last quarter. Seven Eight Capital LLC purchased a new stake in shares of E-Trade Financial Corp. during the first quarter worth about $196,000. Finally, Nuveen Fund Advisors LLC purchased a new stake in shares of E-Trade Financial Corp. during the second quarter worth about $226,000. Institutional investors own 93.78% of the company’s stock.
Shares of E-Trade Financial Corp. (NASDAQ:ETFC) traded down 0.15% during mid-day trading on Friday, reaching $34.06. The company’s stock had a trading volume of 2,841,974 shares. The company has a market cap of $9.34 billion, a PE ratio of 18.80 and a beta of 1.69. E-Trade Financial Corp. has a 52-week low of $19.61 and a 52-week high of $34.47. The company has a 50-day moving average price of $29.37 and a 200 day moving average price of $26.64.
E-Trade Financial Corp. (NASDAQ:ETFC) last posted its quarterly earnings data on Thursday, October 20th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.38 by $0.13. E-Trade Financial Corp. had a return on equity of 8.31% and a net margin of 27.25%. The firm had revenue of $486 million for the quarter, compared to the consensus estimate of $645 million. During the same quarter last year, the company earned $0.48 earnings per share. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. Equities analysts expect that E-Trade Financial Corp. will post $1.82 earnings per share for the current year.
A number of equities research analysts recently issued reports on the company. Credit Suisse Group AG assumed coverage on E-Trade Financial Corp. in a research note on Wednesday, September 21st. They issued an “outperform” rating and a $33.00 price objective on the stock. Goldman Sachs Group Inc. cut 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 note on Friday, July 22nd. Compass Point lowered their price objective on E-Trade Financial Corp. from $31.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, July 22nd. Buckingham Research restated a “buy” rating and issued a $33.00 price objective on shares of E-Trade Financial Corp. in a research note on Monday, October 24th. Finally, Bank of America Corp. reaffirmed a “buy” rating and set a $28.00 target price on shares of E-Trade Financial Corp. in a report on Tuesday, September 13th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. E-Trade Financial Corp. has an average rating of “Buy” and a consensus target price of $31.76.
About E-Trade Financial Corp.
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.
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