ETFC - E*Trade Financial Corp. (ETFC) Director Donald H. Layton on Tuesday bought $1 million worth of the online broker's stock, according to a regulatory filing Wednesday.
Layton bought 245,800 shares of the New York-based company for an average price of $4.07 each, according to a Securities and Exchange Commission filing.
Shares of E*Trade, which closed Tuesday at $4.14, have fallen 83% in the past 12 months amid large mortgage-related writedowns. Last week, the company reported a $1.71 billion fourth-quarter loss.
Other directors and executives, including acting Chief Executive Jarrett R. Lilien, recently bought shares. Lilien on Tuesday bought 7,376 E*Trade shares for an average price of $4.07 each, according to an SEC filing.
-Jared A. Favole, Dow Jones Newswires; 202-862-9207; jared.favole@dowjones.com
(END) Dow Jones Newswires
January 30, 2008 07:46 ET (12:46 GMT)
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