Southpoint Capital Advisors Lp buys $193,518,000 stake in E*TRADE Financial Corp (ETFC)

E*TRADE Financial Corp (ETFC) : Southpoint Capital Advisors Lp scooped up 1,350,000 additional shares in E*TRADE Financial Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 5,850,000 shares of E*TRADE Financial Corp which is valued at $193,518,000.E*TRADE Financial Corp makes up approximately 8.71% of Southpoint Capital Advisors Lp’s portfolio.

Other Hedge Funds, Including , Gotham Asset Management added ETFC to its portfolio by purchasing 8,535 company shares during the most recent quarter which is valued at $276,961. Fdo Partners added ETFC to its portfolio by purchasing 42,013 company shares during the most recent quarter which is valued at $1,326,771. E*TRADE Financial Corp makes up approx 0.57% of Fdo Partners’s portfolio. Hudson Bay Capital Management Lp added ETFC to its portfolio by purchasing 140,000 company shares during the most recent quarter which is valued at $4,201,400. E*TRADE Financial Corp makes up approx 0.40% of Hudson Bay Capital Management Lp’s portfolio. Timber Hill sold out all of its stake in ETFC during the most recent quarter. The investment firm sold 20,993 shares of ETFC which is valued $577,517.World Asset Management Inc boosted its stake in ETFC in the latest quarter, The investment management firm added 63 additional shares and now holds a total of 26,742 shares of E*TRADE Financial Corp which is valued at $753,055. E*TRADE Financial Corp makes up approx 0.03% of World Asset Management Inc’s portfolio.

E*TRADE Financial Corp closed down -0.05 points or -0.15% at $34.06 with 28,41,974 shares getting traded on Monday. Post opening the session at $34.19, the shares hit an intraday low of $34 and an intraday high of $34.465 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, E*TRADE Financial Corp reported $0.51 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on Oct 20, 2016. Analyst had a consensus of $0.38. The company had revenue of $486.00 million for the quarter, compared to analysts expectations of $471.74 million. The company’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 EPS.

Many Wall Street Analysts have commented on E*TRADE Financial Corp. E*TRADE Financial Corp was Downgraded by BofA/Merrill to ” Neutral” on Oct 13, 2016. Morgan Stanley Initiated E*TRADE Financial Corp on Sep 26, 2016 to “Equal-Weight”, Price Target of the shares are set at $29.Credit Suisse Resumed E*TRADE Financial Corp on Sep 21, 2016 to “Outperform”, Price Target of the shares are set at $33.

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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