Argent Capital Management Lowers stake in E*TRADE Financial Corp (ETFC)

E*TRADE Financial Corp (ETFC) : Argent Capital Management reduced its stake in E*TRADE Financial Corp by 0.51% during the most recent quarter end. The investment management company now holds a total of 1,090,880 shares of E*TRADE Financial Corp which is valued at $27,850,166 after selling 5,590 shares in E*TRADE Financial Corp , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.E*TRADE Financial Corp makes up approximately 1.18% of Argent Capital Management’s portfolio.

Other Hedge Funds, Including , Ftb Advisors reduced its stake in ETFC by selling 106 shares or 31.64% in the most recent quarter. The Hedge Fund company now holds 229 shares of ETFC which is valued at $5,743.Retirement Systems Of Alabama reduced its stake in ETFC by selling 1,850 shares or 1.29% in the most recent quarter. The Hedge Fund company now holds 142,099 shares of ETFC which is valued at $3,586,579. E*TRADE Financial Corp makes up approx 0.02% of Retirement Systems Of Alabama’s portfolio.Strs Ohio boosted its stake in ETFC in the latest quarter, The investment management firm added 29,974 additional shares and now holds a total of 312,415 shares of E*TRADE Financial Corp which is valued at $7,885,355. E*TRADE Financial Corp makes up approx 0.03% of Strs Ohio’s portfolio. Americafirst Capital Management sold out all of its stake in ETFC during the most recent quarter. The investment firm sold 15,786 shares of ETFC which is valued $401,912.

E*TRADE Financial Corp opened for trading at $25.26 and hit $25.55 on the upside on Monday, eventually ending the session at $25.47, with a gain of 0.99% or 0.25 points. The heightened volatility saw the trading volume jump to 14,31,009 shares. Company has a market cap of $6,971 M.

On the company’s financial health, E*TRADE Financial Corp reported $0.43 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $0.33. The company had revenue of $472.00 million for the quarter, compared to analysts expectations of $475.14 million. The company’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 EPS.

Many Wall Street Analysts have commented on E*TRADE Financial Corp. Shares were Reiterated by Compass Point on Jul 22, 2016 to “Buy” and Lowered the Price Target to $ 30 from a previous price target of $31 .E*TRADE Financial Corp was Downgraded by Goldman to ” Neutral” on Jul 22, 2016. Buckingham Research Initiated E*TRADE Financial Corp on Jul 13, 2016 to “Buy”, Price Target of the shares are set at $29.

E*Trade Financial Corporation is a financial services company and an online brokerage industry. The Company offers solutions for individual investors and stock plan participants. The Company offers its customers to take control of its financial futures by providing the products tools services and advice they need to meet their near and long term investing goals. The Company provides these services to customers both online and through their network of customer service representatives and Financial Consultants – over the phone and in person at 30 Company branches across the United States. The Company operates a bank with the primary purpose of maximizing the value of deposits generated though its brokerage business.

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