Analysts at Barclays PLC started coverage on shares of E*TRADE Financial Corporation (NASDAQ:ETFC) in a note issued to investors on Friday, MarketBeat reports. The firm set an “overweight” rating and a $45.00 price target on the financial services provider’s stock. Barclays PLC’s target price would suggest a potential upside of 13.46% from the company’s current price.

A number of other brokerages have also recently commented on ETFC. Morgan Stanley reiterated an “equal weight” rating and set a $43.00 price target (up from $40.00) on shares of E*TRADE Financial Corporation in a research report on Tuesday, July 25th. Deutsche Bank AG increased their price target on shares of E*TRADE Financial Corporation from $45.00 to $47.00 and gave the company a “buy” rating in a research report on Friday, July 21st. Bank of America Corporation raised their target price on shares of E*TRADE Financial Corporation from $40.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday, July 21st. ValuEngine cut shares of E*TRADE Financial Corporation from a “buy” rating to a “hold” rating in a report on Saturday, July 22nd. Finally, Instinet restated a “buy” rating and issued a $47.00 target price (up previously from $44.00) on shares of E*TRADE Financial Corporation in a report on Saturday, July 22nd. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $41.61.

E*TRADE Financial Corporation (NASDAQ ETFC) traded up 0.43% during midday trading on Friday, reaching $39.66. 2,311,768 shares of the company’s stock were exchanged. The stock has a market cap of $10.92 billion, a PE ratio of 18.53 and a beta of 1.46. The firm has a 50 day moving average of $40.70 and a 200-day moving average of $37.01. E*TRADE Financial Corporation has a 12 month low of $25.96 and a 12 month high of $42.19.

E*TRADE Financial Corporation (NASDAQ:ETFC) last issued its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. E*TRADE Financial Corporation had a net margin of 28.42% and a return on equity of 9.06%. The business had revenue of $577 million for the quarter, compared to analysts’ expectations of $553.31 million. During the same period last year, the business earned $0.48 earnings per share. The business’s quarterly revenue was up 21.7% on a year-over-year basis. On average, equities research analysts predict that E*TRADE Financial Corporation will post $2.25 earnings per share for the current year.

E*TRADE Financial Corporation declared that its Board of Directors has approved a stock repurchase plan on Thursday, July 20th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the financial services provider to reacquire up to 9.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

ILLEGAL ACTIVITY NOTICE: This story was posted by American Banking News and is owned by of American Banking News. If you are viewing this story on another publication, it was illegally stolen and republished in violation of U.S. & international trademark & copyright law. The correct version of this story can be viewed at https://www.americanbankingnews.com/2017/09/09/etrade-financial-corporation-etfc-now-covered-by-analysts-at-barclays-plc.html.

In other E*TRADE Financial Corporation news, CFO Michael A. Pizzi sold 9,977 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $39.41, for a total transaction of $393,193.57. Following the completion of the transaction, the chief financial officer now owns 110,142 shares of the company’s stock, valued at $4,340,696.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Karl A. Roessner sold 14,898 shares of the firm’s stock in a transaction on Friday, August 18th. The shares were sold at an average price of $39.41, for a total value of $587,130.18. Following the transaction, the chief executive officer now directly owns 232,702 shares of the company’s stock, valued at approximately $9,170,785.82. The disclosure for this sale can be found here. Insiders have sold 30,571 shares of company stock valued at $1,216,708 in the last three months. Insiders own 0.17% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Quadrant Capital Group LLC lifted its position in E*TRADE Financial Corporation by 21.8% during the second quarter. Quadrant Capital Group LLC now owns 3,436 shares of the financial services provider’s stock valued at $121,000 after buying an additional 614 shares during the period. Advisors Asset Management Inc. lifted its position in E*TRADE Financial Corporation by 80.8% during the second quarter. Advisors Asset Management Inc. now owns 3,239 shares of the financial services provider’s stock valued at $123,000 after buying an additional 1,448 shares during the period. Exane Derivatives purchased a new position in E*TRADE Financial Corporation during the second quarter valued at $130,000. Krilogy Financial LLC lifted its position in E*TRADE Financial Corporation by 7.5% during the second quarter. Krilogy Financial LLC now owns 3,710 shares of the financial services provider’s stock valued at $141,000 after buying an additional 260 shares during the period. Finally, Financial Counselors Inc. purchased a new position in E*TRADE Financial Corporation during the second quarter valued at $203,000. 92.65% of the stock is owned by institutional investors and hedge funds.

E*TRADE Financial Corporation Company Profile

E*Trade Financial Corporation is a financial services company. The Company provides online 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.

Analyst Recommendations for E*TRADE Financial Corporation (NASDAQ:ETFC)

Receive News & Ratings for E*TRADE Financial Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for E*TRADE Financial Corporation and related companies with MarketBeat.com's FREE daily email newsletter.