Today’s Stock On Watch: E*trade Financial Corporation (NASDAQ:ETFC) Has Decline in Shorts

January 11, 2017 - By Peter Erickson   ·   0 Comments

Today's Stock On Watch: E*trade Financial Corporation (NASDAQ:ETFC) Has Decline in Shorts

The stock of E*trade Financial Corporation (NASDAQ:ETFC) registered a decrease of 5.49% in short interest. ETFC’s total short interest was 4.59M shares in January as published by FINRA. Its down 5.49% from 4.86 million shares, reported previously. With 2.96M shares average volume, it will take short sellers 2 days to cover their ETFC’s short positions. The short interest to E*trade Financial Corporation’s float is 1.68%. About 1.58 million shares traded hands. E*TRADE Financial Corp (NASDAQ:ETFC) has risen 37.02% since June 7, 2016 and is uptrending. It has outperformed by 29.60% the S&P500.

E*Trade Financial Corporation is a financial services company. The company has a market cap of $10.15 billion. The Firm provides brokerage and related services and products primarily to individual retail investors under the brand E*TRADE Financial. It has a 20.21 P/E ratio. The Firm also provides investor-focused banking products, primarily sweep deposits, to retail investors.

Insitutional Activity: The institutional sentiment increased to 0.88 in Q3 2016. Its up 0.10, from 0.78 in 2016Q2. The ratio increased, as 44 funds sold all E*TRADE Financial Corp shares owned while 127 reduced positions. 49 funds bought stakes while 102 increased positions. They now own 246.23 million shares or 0.74% more from 244.42 million shares in 2016Q2.
Pub Employees Retirement Association Of Colorado, a Colorado-based fund reported 62,839 shares. Cupps Management Lc holds 53,443 shares or 0.67% of its portfolio. Icon Advisers Inc holds 0.07% of its portfolio in E*TRADE Financial Corp (NASDAQ:ETFC) for 36,700 shares. Apg Asset Mngmt Nv holds 1.71M shares or 0.09% of its portfolio. Price T Rowe Assoc Md has 21.40 million shares for 0.13% of their US portfolio. Mitsubishi Ufj Tru Bk Corporation holds 785,391 shares or 0.05% of its portfolio. Bronson Point Limited Liability Corporation reported 150,000 shares or 1.32% of all its holdings. Dupont Cap Management Corporation has 0.04% invested in the company for 58,624 shares. The Georgia-based Invesco has invested 0.08% in E*TRADE Financial Corp (NASDAQ:ETFC). Zurcher Kantonalbank (Zurich Cantonalbank) reported 162,062 shares or 0.05% of all its holdings. Cornerstone Cap Management Holdg Ltd Liability Co accumulated 0.01% or 51,787 shares. British Columbia Inv Management Corp reported 104,549 shares or 0.03% of all its holdings. Sumitomo Mitsui Asset Mngmt Commerce Limited holds 0.01% or 21,957 shares in its portfolio. Parametric Port Assoc Ltd Liability accumulated 544,066 shares or 0.02% of the stock. Samlyn Ltd Liability Com reported 446,656 shares or 0.31% of all its holdings.

Insider Transactions: Since November 14, 2016, the stock had 0 insider purchases, and 1 insider sale for $261,290 net activity. Simonich Brent sold 7,996 shares worth $261,290.

E*TRADE Financial Corp (NASDAQ:ETFC) Ratings Coverage

Out of 17 analysts covering E*TRADE (NASDAQ:ETFC), 13 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 76% are positive. E*TRADE has been the topic of 49 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The rating was maintained by RBC Capital Markets with “Outperform” on Wednesday, September 9. The rating was maintained by Barclays Capital on Friday, January 22 with “Overweight”. The stock of E*TRADE Financial Corp (NASDAQ:ETFC) earned “Buy” rating by Deutsche Bank on Thursday, March 17. The firm earned “Outperform” rating on Tuesday, October 13 by Credit Agricole. Deutsche Bank maintained the shares of ETFC in a report on Friday, May 27 with “Buy” rating. Barclays Capital maintained the shares of ETFC in a report on Thursday, October 8 with “Overweight” rating. On Tuesday, November 29 the stock rating was maintained by Suntrust Robinson with “Hold”. SunTrust initiated it with “Neutral” rating and $25 target price in Wednesday, March 23 report. As per Thursday, October 13, the company rating was downgraded by Bank of America. The firm earned “Outperform” rating on Monday, February 22 by Credit Suisse.

ETFC Company Profile

E*Trade Financial Corporation, incorporated on September 4, 2003, is a financial services company. The Firm provides brokerage and related services and products primarily to individual retail investors under the brand E*TRADE Financial. The Firm also provides investor-focused banking products, primarily sweep deposits, to retail investors. The Firm operates in two divisions: trading and investing, and balance sheet management. The Company’s hybrid service delivery model is delivered through various digital platforms: E*TRADE.com, E*TRADE Mobile and E*TRADE Pro. E*TRADE.com is its site that provides clients with tools, guidance, actionable ideas, research and education to take control of their finances. E*TRADE Mobile offers trading applications for various smartphones and tablets. E*TRADE Pro is its trading platform for active and elite traders, with tools and customizable layouts.

Another recent and important E*TRADE Financial Corp (NASDAQ:ETFC) news was published by Businesswire.com which published an article titled: “E*TRADE Financial Corporation Reports Monthly Activity for November 2016” on December 14, 2016.

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By Peter Erickson

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