E*TRADE Financial Corp (NASDAQ:ETFC) declared a quarterly dividend on Thursday, July 18th, RTT News reports. Stockholders of record on Monday, August 19th will be given a dividend of 0.14 per share by the financial services provider on Monday, August 26th. This represents a $0.56 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Friday, August 16th.
E*TRADE Financial has a payout ratio of 15.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect E*TRADE Financial to earn $4.45 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 12.6%.
E*TRADE Financial stock opened at $41.90 on Wednesday. The firm has a market capitalization of $10.27 billion, a PE ratio of 10.77, a PEG ratio of 0.93 and a beta of 1.15. E*TRADE Financial has a twelve month low of $40.41 and a twelve month high of $61.69. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.27 and a quick ratio of 0.27. The firm has a 50 day moving average of $45.80.
In other E*TRADE Financial news, Director Rodger A. Lawson sold 41,322 shares of the company’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $48.13, for a total transaction of $1,988,827.86. Following the sale, the director now directly owns 114,753 shares of the company’s stock, valued at $5,523,061.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.20% of the company’s stock.
ETFC has been the subject of several recent research reports. Zacks Investment Research cut shares of E*TRADE Financial from a “buy” rating to a “hold” rating in a report on Friday, May 24th. BidaskClub cut shares of E*TRADE Financial from a “hold” rating to a “sell” rating in a report on Tuesday. Raymond James set a $57.00 target price on shares of E*TRADE Financial and gave the stock a “buy” rating in a report on Friday, July 19th. Credit Suisse Group set a $57.00 target price on shares of E*TRADE Financial and gave the stock a “buy” rating in a report on Friday, July 19th. Finally, JMP Securities increased their target price on shares of E*TRADE Financial to $63.00 and gave the stock a “market perform” rating in a report on Friday, July 19th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $56.29.
E*TRADE Financial declared that its Board of Directors has approved a stock buyback program on Thursday, July 18th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 12.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
E*TRADE Financial Company Profile
E*TRADE Financial Corporation, a financial services company, provides brokerage and related products and services for traders, investors, stock plan administrators and participants, and registered investment advisors (RIAs). It also offers investor-focused banking products, primarily sweep deposits to customers; clearing and settlement services; Federal Deposit Insurance Corporation insurance services; custody solutions to RIAs; other banking and cash management services; software and services for managing equity compensation plans to its corporate clients; retail futures transaction services; and investment advisory services.
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