Amalgamated Bank raised its holdings in E*TRADE Financial Corporation (NASDAQ:ETFC) by 21.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 54,149 shares of the financial services provider’s stock after buying an additional 9,675 shares during the period. Amalgamated Bank’s holdings in E*TRADE Financial Corporation were worth $2,059,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Nationwide Fund Advisors boosted its position in E*TRADE Financial Corporation by 25.6% in the 2nd quarter. Nationwide Fund Advisors now owns 195,062 shares of the financial services provider’s stock valued at $7,418,000 after buying an additional 39,800 shares during the period. Norinchukin Bank The boosted its position in E*TRADE Financial Corporation by 11.2% in the 2nd quarter. Norinchukin Bank The now owns 60,733 shares of the financial services provider’s stock valued at $2,310,000 after buying an additional 6,101 shares during the period. TIAA CREF Investment Management LLC boosted its position in E*TRADE Financial Corporation by 3.4% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 5,053,621 shares of the financial services provider’s stock valued at $192,189,000 after buying an additional 166,595 shares during the period. Symphony Asset Management LLC boosted its position in E*TRADE Financial Corporation by 3.3% in the 2nd quarter. Symphony Asset Management LLC now owns 12,317 shares of the financial services provider’s stock valued at $468,000 after buying an additional 395 shares during the period. Finally, Israel Discount Bank of New York boosted its position in E*TRADE Financial Corporation by 31.3% in the 2nd quarter. Israel Discount Bank of New York now owns 8,765 shares of the financial services provider’s stock valued at $334,000 after buying an additional 2,090 shares during the period. 92.64% of the stock is owned by institutional investors.

ETFC has been the subject of several recent research reports. Deutsche Bank AG raised their price target on shares of E*TRADE Financial Corporation from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, July 21st. Morgan Stanley reissued an “equal weight” rating and issued a $40.00 price target (up previously from $38.00) on shares of E*TRADE Financial Corporation in a research report on Monday, July 10th. SunTrust Banks, Inc. reissued a “buy” rating on shares of E*TRADE Financial Corporation in a research report on Monday, July 24th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $44.00 price target on shares of E*TRADE Financial Corporation in a research report on Friday, July 21st. Finally, Robert W. Baird reissued an “outperform” rating and issued a $49.00 price target (up previously from $43.00) on shares of E*TRADE Financial Corporation in a research report on Saturday, July 22nd. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. E*TRADE Financial Corporation currently has an average rating of “Buy” and an average price target of $41.61.

In other E*TRADE Financial Corporation news, insider Brent Simonich sold 5,696 shares of the stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $41.50, for a total transaction of $236,384.00. Following the transaction, the insider now directly owns 31,557 shares in the company, valued at approximately $1,309,615.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James P. Healy acquired 5,000 shares of E*TRADE Financial Corporation stock in a transaction on Tuesday, July 25th. The shares were bought at an average price of $41.97 per share, for a total transaction of $209,850.00. Following the completion of the purchase, the director now directly owns 40,792 shares in the company, valued at $1,712,040.24. The disclosure for this purchase can be found here. Insiders have sold a total of 72,623 shares of company stock worth $2,915,711 over the last quarter. 0.17% of the stock is currently owned by insiders.

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Shares of E*TRADE Financial Corporation (NASDAQ ETFC) opened at 41.06 on Monday. E*TRADE Financial Corporation has a 52 week low of $27.33 and a 52 week high of $42.19. The company’s 50-day moving average is $40.61 and its 200 day moving average is $37.14. The firm has a market capitalization of $11.31 billion, a price-to-earnings ratio of 19.19 and a beta of 1.46.

E*TRADE Financial Corporation (NASDAQ:ETFC) last posted its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.04. E*TRADE Financial Corporation had a net margin of 28.42% and a return on equity of 9.06%. The firm had revenue of $577.00 million for the quarter, compared to the consensus estimate of $553.31 million. During the same period in the prior year, the firm posted $0.48 EPS. The firm’s revenue was up 21.7% compared to the same quarter last year. Analysts anticipate that E*TRADE Financial Corporation will post $2.26 EPS for the current fiscal year.

E*TRADE Financial Corporation declared that its board has approved a share buyback plan on Thursday, July 20th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to purchase up to 9.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

E*TRADE Financial Corporation Profile

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

Institutional Ownership by Quarter for E*TRADE Financial Corporation (NASDAQ:ETFC)

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