E*TRADE Financial Corporation (NASDAQ:ETFC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The firm currently has a $50.00 target price on the financial services provider’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 13.66% from the company’s current price.

According to Zacks, “Shares of E*TRADE have outperformed the industry so far this year. The performance was supported by the company’s impressive earnings surprise history. It has surpassed the Zacks Consensus Estimate for earnings in all the trailing four quarters. E*TRADE’s several restructuring measures and balance-sheet growth plans keep us encouraged. We anticipate the company’s focus on core operations and strategic initiatives to lead to an improved performance of the top-line. Further, the company’s improving credit quality and strong capital position will aid profitability. However, E*TRADE’s escalating expenses and intense competition remain near-term concerns.”

Several other equities analysts have also weighed in on ETFC. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $41.00 price objective (up from $40.00) on shares of E*TRADE Financial Corporation in a research note on Monday, June 12th. BidaskClub raised E*TRADE Financial Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 13th. SunTrust Banks, Inc. lifted their price objective on E*TRADE Financial Corporation from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Friday, June 16th. Deutsche Bank AG reduced their price objective on E*TRADE Financial Corporation from $40.00 to $39.00 and set a “buy” rating on the stock in a research note on Tuesday, July 4th. Finally, Jefferies Group LLC reaffirmed a “hold” rating on shares of E*TRADE Financial Corporation in a research note on Monday, July 10th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. E*TRADE Financial Corporation currently has a consensus rating of “Buy” and a consensus target price of $44.25.

Shares of E*TRADE Financial Corporation (ETFC) traded down 0.99% during mid-day trading on Tuesday, reaching $43.99. 1,968,893 shares of the company’s stock were exchanged. The stock has a market cap of $12.12 billion, a price-to-earnings ratio of 20.56 and a beta of 1.47. E*TRADE Financial Corporation has a 52 week low of $27.33 and a 52 week high of $45.70. The stock has a 50 day moving average price of $41.78 and a 200 day moving average price of $38.17.

E*TRADE Financial Corporation (NASDAQ:ETFC) last released its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.04. The business had revenue of $577.00 million for the quarter, compared to analyst estimates of $553.31 million. E*TRADE Financial Corporation had a return on equity of 9.06% and a net margin of 28.42%. The company’s revenue was up 21.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.48 EPS. Equities research analysts predict that E*TRADE Financial Corporation will post $2.24 EPS for the current year.

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

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In other news, insider Michael John Curcio sold 33,474 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $40.38, for a total value of $1,351,680.12. Following the completion of the sale, the insider now directly owns 267,151 shares in the company, valued at approximately $10,787,557.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Brent Simonich sold 5,696 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $41.50, for a total value of $236,384.00. Following the completion of the sale, the insider now owns 31,557 shares of the company’s stock, valued at $1,309,615.50. The disclosure for this sale can be found here. Insiders sold a total of 72,623 shares of company stock valued at $2,915,711 over the last quarter. Company insiders own 0.17% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Advisors Asset Management Inc. increased its holdings in shares of E*TRADE Financial Corporation by 80.8% in the 2nd quarter. Advisors Asset Management Inc. now owns 3,239 shares of the financial services provider’s stock valued at $123,000 after acquiring an additional 1,448 shares during the last quarter. Exane Derivatives bought a new stake in shares of E*TRADE Financial Corporation in the 2nd quarter valued at approximately $130,000. Quadrant Capital Group LLC increased its holdings in shares of E*TRADE Financial Corporation by 21.8% in the 2nd quarter. Quadrant Capital Group LLC now owns 3,436 shares of the financial services provider’s stock valued at $121,000 after acquiring an additional 614 shares during the last quarter. Krilogy Financial LLC increased its holdings in shares of E*TRADE Financial Corporation by 7.5% in the 2nd quarter. Krilogy Financial LLC now owns 3,710 shares of the financial services provider’s stock valued at $141,000 after acquiring an additional 260 shares during the last quarter. Finally, Financial Counselors Inc. bought a new stake in shares of E*TRADE Financial Corporation in the 2nd quarter valued at approximately $203,000. Institutional investors and hedge funds own 92.64% of the company’s stock.

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.

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

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