Investment analysts at Credit Suisse Group AG initiated coverage on shares of E-Trade Financial Corp. (NASDAQ:ETFC) in a note issued to investors on Wednesday. The brokerage set an “outperform” rating and a $33.00 price target on the stock. Credit Suisse Group AG’s price target suggests a potential upside of 15.79% from the company’s previous close.

The analysts wrote, “The E*Trade story is at another critical inflexion point — the lack of core business growth resulted in the ouster of the CEO last week; the new management team has effectively been set an implicit target of 2–3 percent incremental business growth or ‘we’ll consider that this company is better in other people’s hand in terms of shareholder value,'” analyst Christian Bolu wrote in a note.Commenting on the possibility of a takeout by TD Ameritrade Holding Corp. (NASDAQ: AMTD)/Charles Schwab Corp (NYSE: SCHW), the analyst said the acquisition would offer “little to no premium to current prices”

Other research analysts have also recently issued reports about the stock. Deutsche Bank AG reissued a “buy” rating on shares of E-Trade Financial Corp. in a report on Sunday, July 10th. Buckingham Research assumed coverage on shares of E-Trade Financial Corp. in a report on Wednesday, July 13th. They issued a “buy” rating and a $29.00 price target on the stock. Nomura reissued a “buy” rating and issued a $32.00 price target (up from $30.00) on shares of E-Trade Financial Corp. in a report on Monday, July 25th. Jefferies Group lowered their target price on shares of E-Trade Financial Corp. from $27.00 to $25.50 and set a “hold” rating on the stock in a report on Thursday, July 7th. Finally, Goldman Sachs Group Inc. cut shares of E-Trade Financial Corp. from a “buy” rating to a “neutral” rating and set a $26.00 target price on the stock. in a report on Friday, July 22nd. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. E-Trade Financial Corp. has an average rating of “Buy” and an average target price of $30.41.

Analyst Recommendations for E-Trade Financial Corp. (NASDAQ:ETFC)

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E-Trade Financial Corp. (NASDAQ:ETFC) remained flat at $28.50 on Wednesday. The company’s stock had a trading volume of 5,831,180 shares. E-Trade Financial Corp. has a 52-week low of $19.61 and a 52-week high of $30.98. The company has a market capitalization of $7.89 billion, a price-to-earnings ratio of 37.35 and a beta of 1.89. The company’s 50 day moving average is $26.19 and its 200 day moving average is $25.35.

E-Trade Financial Corp. (NASDAQ:ETFC) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.10. The firm had revenue of $474 million for the quarter, compared to analysts’ expectations of $472.50 million. E-Trade Financial Corp. had a net margin of 15.07% and a return on equity of 7.64%. Analysts predict that E-Trade Financial Corp. will post $1.70 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of ETFC. Pennant Capital Management LLC raised its stake in shares of E-Trade Financial Corp. by 58.8% in the first quarter. Pennant Capital Management LLC now owns 2,955,992 shares of the company’s stock worth $72,392,000 after buying an additional 1,095,000 shares in the last quarter. Southpoint Capital Advisors LP raised its stake in shares of E-Trade Financial Corp. by 44.9% in the first quarter. Southpoint Capital Advisors LP now owns 5,000,000 shares of the company’s stock worth $122,450,000 after buying an additional 1,550,000 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its stake in shares of E-Trade Financial Corp. by 371.6% in the first quarter. Adage Capital Partners GP L.L.C. now owns 2,521,862 shares of the company’s stock worth $61,760,000 after buying an additional 1,987,100 shares in the last quarter. Royal Bank of Canada raised its stake in shares of E-Trade Financial Corp. by 17.8% in the first quarter. Royal Bank of Canada now owns 859,249 shares of the company’s stock worth $21,044,000 after buying an additional 129,580 shares in the last quarter. Finally, Prudential Financial Inc. raised its stake in shares of E-Trade Financial Corp. by 90.3% in the first quarter. Prudential Financial Inc. now owns 692,611 shares of the company’s stock worth $16,962,000 after buying an additional 328,720 shares in the last quarter. Hedge funds and other institutional investors own 91.48% of the company’s stock.

E-Trade Financial Corp. Company Profile

E*Trade Financial Corporation is a financial services company. The Company provides brokerage and related products and services primarily to individual retail investors under the brand E*TRADE Financial. The Company also provides investor-focused banking products, primarily sweep deposits, to retail investors.

5 Day Chart for NASDAQ:ETFC

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