E*TRADE Financial Corporation (ETFC) Expected to Post Earnings of $0.48 Per Share

Paterniano Del Favero
Agosto 6, 2017

Cleararc Capital Inc. now owns 6,698 shares of the financial services provider's stock valued at $234,000 after buying an additional 29 shares during the period. APG Asset Management N.V. owned approximately 0.84% of E*TRADE Financial Corporation worth $87,626,000 as of its most recent filing with the SEC. Finally, RE Advisers Corp boosted its position in shares of FB Financial Corporation by 14.1% in the first quarter. Americafirst Capital Management LLC purchased a new stake in shares of E*TRADE Financial Corporation during the first quarter worth approximately $152,000. GSA Capital Partners LLP bought a new stake in shares of E*TRADE Financial Corporation during the fourth quarter valued at about $245,000. Meeder Asset Management Inc. now owns 5,656 shares of the financial services provider's stock valued at $215,000 after buying an additional 3,513 shares in the last quarter. The Florida-based Independent Portfolio Consultants has invested 0.08% in E*TRADE Financial Corp (NASDAQ:ETFC). Macquarie Group Ltd. now owns 126,800 shares of the financial services provider's stock valued at $4,394,000 after buying an additional 120,300 shares in the last quarter. Mackenzie Financial Corp boosted its stake in E*TRADE Financial Corporation by 0.3% in the first quarter.

Shares of FB Financial Corporation (NYSE:FBK) traded up 1.10% during trading on Friday, reaching $34.08. The stock had a trading volume of 659,000 shares.

The company has a market cap of $11.29 billion, a price-to-earnings ratio of 19.16 and a beta of 1.46. E*TRADE Financial Corporation has a 1-year low of $24.35 and a 1-year high of $41.97. The stock's 50 day moving average is $35.75 and its 200-day moving average is $35.53.

E*TRADE Financial Corporation (NASDAQ:ETFC) last posted its quarterly earnings results on Thursday, April 20th. The financial services provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.04. The business had revenue of $577 million for the quarter, compared to the consensus estimate of $553.31 million. E*TRADE Financial Corporation had a net margin of 26.90% and a return on equity of 9.09%. RE Advisers Corp now owns 603,475 shares of the financial services provider's stock worth $21,339,000 after buying an additional 74,500 shares in the last quarter. During the same period past year, the firm earned $0.48 earnings per share.

Equities research analysts at Jefferies Group upped their Q2 2017 EPS estimates for shares of E*TRADE Financial Corporation in a note issued to investors on Monday.

E*TRADE Financial Corporation announced that its board has initiated a stock buyback program on Thursday, July 20th that permits the company to repurchase $1.00 billion in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 9.2% of its shares through open market purchases. Stock repurchase programs are generally a sign that the company's management believes its shares are undervalued.

ILLEGAL ACTIVITY NOTICE: This story was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this news story on another website, it was illegally copied and reposted in violation of USA & global copyright and trademark legislation. The legal version of this news story can be accessed at https://transcriptdaily.com/2017/08/05/fb-financial-corporation-fbk-receives-consensus-rating-of-buy-from-brokerages.html. ETFC's SI was 4.94 million shares in August as released by FINRA. Deutsche Bank AG reduced their price target on shares of E*TRADE Financial Corporation from $40.00 to $39.00 and set a "buy" rating on the stock in a research report on Thursday, April 6th. Finally, Robert W. Baird reiterated an "outperform" rating and set a $49.00 price objective (up previously from $43.00) on shares of E*TRADE Financial Corporation in a research report on Saturday, July 22nd. JMP Securities restated an "outperform" rating and issued a $44.00 target price (up from $42.00) on shares of E*TRADE Financial Corporation in a research report on Sunday, July 23rd. SunTrust Banks, Inc. reissued a "buy" rating and set a $42.00 price objective (up from $40.00) on shares of E*TRADE Financial Corporation in a report on Sunday, April 23rd.

A number of other research analysts also recently issued reports on ETFC. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The company has an average rating of "Buy" and an average target price of $40.94. Also, Director James P. Healy acquired 5,000 shares of the business's stock in a transaction dated Tuesday, July 25th. The stock was acquired at an average price of $41.97 per share, for a total transaction of $209,850.00.

Institutional investors have recently made changes to their positions in the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

In other news, insider Brent Simonich sold 5,696 shares of the firm's stock in a transaction that occurred on Wednesday, July 26th. Following the purchase, the director now directly owns 40,792 shares of the company's stock, valued at $1,712,040.24. The disclosure for this sale can be found here. Following the completion of the transaction, the insider now directly owns 31,557 shares in the company, valued at $1,309,615.50.

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 provides commercial and consumer banking services to clients.

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