T. Rowe Price Associates, Inc. (I.. recently announced the acquisition of new stake in E*TRADE Financial Corporation (NASDAQ:ETFC). The institutional investor has increased its shareholding in the Financial company by 8.79% to 13.41 million shares with purchase of 1.08 million shares. This fresh investment now brings its stake to 6.07% valued currently at $680.95 million. In addition, Goldman Sachs & Co. LLC (Private.. raised its holdings by 0.71 million to 5.88 million shares. And Credit Suisse Securities (USA) LL.. has lifted its position by 27.86% or 0.96 million shares – to 4.39 million shares.
With over 1.05 million E*TRADE Financial Corporation (ETFC) shares trading Tuesday and a closing price of $53.97 on the day, the dollar volume was approximately $56.88 million. The shares have shown a positive weekly performance of 2.02% and its price on 08/25/20 lost nearly -0.63%. Currently, there are 222.30M common shares owned by the public and among those 220.30M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 13 analysts who have offered their price forecasts for ETFC have a consensus price objective of $52.86. The analysts have set the share’s price value over the next 12 months at a high of $66.00 and a low of $37.00 should the stock experience a downside. Incidentally, analysts’ outlook for the E*TRADE Financial Corporation stock is 2.80 for the next 12 months. The average price target is -2.24% below its last price level and a downside to the estimated low will see the stock lose -45.86% over that period. But an upside of 18.23% will see the stock hit the forecast high price target while mean target price for the stock is $53.00.
Insiders at the company have transacted a total of 137 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 92 of these insider trades were purchases, accounting for 306,381 shares. Insider sales of the common stock occurred on 45 occasions, with total insider shares sold totaling 217,000 shares.
The top 3 mutual fund holders in E*TRADE Financial Corporation are Vanguard Total Stock Market Index, Vanguard Mid Cap Index Fund, and T Rowe Price Value Fund. Vanguard Total Stock Market Index owns 6.3 million shares of the company’s stock, all valued at over $319.92 million. The company sold 3598.0 shares recently to bring their total holdings to about 2.85% of the shares outstanding. Vanguard Mid Cap Index Fund sold 38020.0 shares to see its total holdings shrink to 5.43 million shares valued at over $275.63 million and representing 2.46% of the shares outstanding. T Rowe Price Value Fund bought 1.76 million shares to bring its total holdings to over 4.86 million shares at a value of $246.89 million. T Rowe Price Value Fund now owns shares totaling to 2.20% of the shares outstanding.
Shares of E*TRADE Financial Corporation (NASDAQ: ETFC) opened at $54.53, up $0.22 from a prior closing price of $54.31. However, the script later closed the day at $53.97, down -0.63%. The company’s stock has a 5-day price change of 2.02% and 12.09% over the past three months. ETFC shares are trading 18.96% year to date (YTD), with the 12-month market performance up to 33.72% higher. It has a 12-month low price of $25.76 and touched a high of $57.30 over the same period. Currently, 1.05 million shares have been traded, compared to an average intraday trading volume of 2.33 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.50%, 4.84%, and 20.26% respectively.
Institutional ownership of E*TRADE Financial Corporation (NASDAQ: ETFC) shares accounts for 89.20% of the company’s 222.30M shares outstanding. Mutual fund holders own 41.58%, while other institutional holders and individual stakeholders account for 47.84% and 14.13% respectively.
It has a market capitalization of $11.87B and a beta (3y monthly) value of 1.25. The stock’s trailing 12-month PE ratio is 15.66, while the earnings-per-share (ttm) stands at $3.45. The company has a debt-to-equity ratio at 7.47. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.95% over the week and 1.93% over the month.
Analysts forecast that E*TRADE Financial Corporation (ETFC) will achieve an EPS of $0.71 for the current quarter, $0.74 for the next quarter and $2.7 for 2021. The lowest estimate earnings-per-share for the quarter is $0.66 while analysts give the company a high EPS estimate of $0.79. Comparatively, EPS for the current quarter was $1.08 a year ago. Earnings per share for the fiscal year are expected to decrease by -1.00%, and -11.85% over the next financial year. EPS should shrink at an annualized rate of -6.73% over the next five years, compared to 31.00% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 13 brokerage firm advisors rate E*TRADE Financial Corporation (ETFC) as a “Moderate Buy” at a consensus score of 2.80. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 12 of the 13 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ETFC, a number of firms have released research notes about the stock. UBS stated their Buy rating for the stock in a research note on October 07, 2019, with the firm’s price target at $45-$41. Wells Fargo coverage for the E*TRADE Financial Corporation (ETFC) stock in a research note released on October 03, 2019 offered a Market Perform rating with a price target of. Barclays was of a view on October 02, 2019 that the stock is Underweight, while Keefe Bruyette gave the stock Mkt Perform rating on September 09, 2019, issuing a price target of $55- $45.50. Deutsche Bank on their part issued Hold rating on August 09, 2019.