Monarch Partners Asset Management LLC bought a new position in E*TRADE Financial Corporation (NASDAQ:ETFC) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 263,020 shares of the financial services provider’s stock, valued at approximately $10,003,000.

A number of other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in E*TRADE Financial Corporation by 2,903.3% in the first quarter. BlackRock Inc. now owns 18,166,924 shares of the financial services provider’s stock worth $633,844,000 after buying an additional 17,562,024 shares during the period. Victory Capital Management Inc. increased its stake in E*TRADE Financial Corporation by 79.2% in the first quarter. Victory Capital Management Inc. now owns 6,259,269 shares of the financial services provider’s stock worth $218,385,000 after buying an additional 2,766,050 shares during the period. Westpac Banking Corp increased its stake in E*TRADE Financial Corporation by 11,248.8% in the first quarter. Westpac Banking Corp now owns 2,522,959 shares of the financial services provider’s stock worth $96,538,000 after buying an additional 2,500,728 shares during the period. Morgan Stanley increased its stake in E*TRADE Financial Corporation by 272.0% in the first quarter. Morgan Stanley now owns 2,678,103 shares of the financial services provider’s stock worth $93,438,000 after buying an additional 1,958,159 shares during the period. Finally, TIAA CREF Investment Management LLC increased its stake in E*TRADE Financial Corporation by 39.5% in the first quarter. TIAA CREF Investment Management LLC now owns 4,887,026 shares of the financial services provider’s stock worth $170,508,000 after buying an additional 1,384,420 shares during the period. Hedge funds and other institutional investors own 93.19% of the company’s stock.

Shares of E*TRADE Financial Corporation (NASDAQ ETFC) opened at 40.15 on Friday. E*TRADE Financial Corporation has a 12-month low of $24.85 and a 12-month high of $42.19. The stock has a market cap of $11.06 billion, a price-to-earnings ratio of 18.76 and a beta of 1.48. The stock has a 50 day moving average price of $39.58 and a 200-day moving average price of $36.45.

E*TRADE Financial Corporation (NASDAQ:ETFC) last announced its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The company had revenue of $577 million for the quarter, compared to analysts’ expectations of $553.31 million. E*TRADE Financial Corporation had a net margin of 28.42% and a return on equity of 9.06%. The business’s quarterly revenue was up 21.7% compared to the same quarter last year. During the same period last year, the firm posted $0.48 earnings per share. Equities analysts anticipate that E*TRADE Financial Corporation will post $2.26 EPS for the current fiscal year.

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

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A number of equities research analysts have weighed in on ETFC shares. Deutsche Bank AG restated a “buy” rating and issued a $40.00 target price (up from $39.00) on shares of E*TRADE Financial Corporation in a research report on Sunday, April 23rd. Morgan Stanley restated an “equal weight” rating and issued a $40.00 target price (up from $38.00) on shares of E*TRADE Financial Corporation in a research report on Monday, July 10th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $41.00 price objective on shares of E*TRADE Financial Corporation in a research report on Friday, April 21st. SunTrust Banks, Inc. increased their price objective on E*TRADE Financial Corporation from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Friday, June 16th. Finally, Zacks Investment Research upgraded E*TRADE Financial Corporation from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Wednesday, June 21st. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $40.94.

In other news, insider Brent Simonich sold 5,696 shares of E*TRADE Financial Corporation 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 of the company’s stock, valued at $1,309,615.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director James P. Healy purchased 5,000 shares of E*TRADE Financial Corporation stock in a transaction dated Tuesday, July 25th. The shares were purchased at an average cost of $41.97 per share, for a total transaction of $209,850.00. Following the completion of the transaction, the director now owns 40,792 shares of the company’s stock, valued at $1,712,040.24. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company’s stock.

About E*TRADE Financial Corporation

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.

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

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