E*TRADE Financial Corp (NASDAQ:ETFC) announced a quarterly dividend on Thursday, October 17th, RTT News reports. Investors of record on Friday, November 8th will be paid a dividend of 0.14 per share by the financial services provider on Friday, November 15th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.45%.
E*TRADE Financial has a payout ratio of 15.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect E*TRADE Financial to earn $3.65 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 15.3%.
Shares of NASDAQ:ETFC traded down $0.28 during midday trading on Thursday, reaching $38.73. 1,876,208 shares of the company were exchanged, compared to its average volume of 2,876,149. E*TRADE Financial has a fifty-two week low of $34.68 and a fifty-two week high of $54.44. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.28. The stock has a fifty day simple moving average of $41.56 and a two-hundred day simple moving average of $45.38. The firm has a market cap of $9.62 billion, a PE ratio of 9.96, a P/E/G ratio of 1.34 and a beta of 1.21.
ETFC has been the subject of a number of analyst reports. ValuEngine downgraded shares of E*TRADE Financial from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 1st. Raymond James set a $57.00 target price on shares of E*TRADE Financial and gave the company a “buy” rating in a research report on Friday, July 19th. Jefferies Financial Group set a $44.00 target price on shares of E*TRADE Financial and gave the company a “buy” rating in a research report on Thursday, October 10th. UBS Group raised shares of E*TRADE Financial from a “neutral” rating to a “buy” rating and decreased their target price for the company from $45.00 to $41.00 in a research report on Monday, October 7th. Finally, Morgan Stanley decreased their target price on shares of E*TRADE Financial from $57.00 to $46.00 and set an “overweight” rating for the company in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. E*TRADE Financial presently has an average rating of “Hold” and an average target price of $48.04.
In other news, EVP Michael John Curcio sold 53,584 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $45.18, for a total transaction of $2,420,925.12. Following the completion of the sale, the executive vice president now owns 149,159 shares in the company, valued at approximately $6,739,003.62. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Rodger A. Lawson sold 5,109 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $45.18, for a total transaction of $230,824.62. Following the sale, the director now owns 113,739 shares of the company’s stock, valued at approximately $5,138,728.02. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.
E*TRADE Financial declared that its board has authorized a share repurchase plan on Thursday, July 18th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 12.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are 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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