Shares of E*TRADE Financial Corporation (NASDAQ:ETFC) have received a consensus rating of “Buy” from the eighteen ratings firms that are presently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $46.64.

Several equities research analysts have recently commented on ETFC shares. Deutsche Bank AG cut their price objective on E*TRADE Financial Corporation from $40.00 to $39.00 and set a “buy” rating for the company in a report on Tuesday, July 4th. Instinet reissued a “buy” rating and issued a $47.00 price objective (up previously from $44.00) on shares of E*TRADE Financial Corporation in a report on Saturday, July 22nd. Rosenblatt Securities started coverage on E*TRADE Financial Corporation in a report on Thursday, July 13th. They issued a “buy” rating and a $43.00 price objective for the company. SunTrust Banks, Inc. reissued a “buy” rating on shares of E*TRADE Financial Corporation in a report on Monday, July 24th. Finally, BidaskClub downgraded E*TRADE Financial Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th.

Shares of E*TRADE Financial Corporation (NASDAQ:ETFC) opened at 43.62 on Wednesday. The firm has a 50-day moving average of $42.56 and a 200-day moving average of $38.84. The firm has a market capitalization of $12.01 billion, a PE ratio of 20.38 and a beta of 1.47. E*TRADE Financial Corporation has a 1-year low of $27.33 and a 1-year high of $45.70.

E*TRADE Financial Corporation (NASDAQ:ETFC) last issued its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.04. The company had revenue of $599.00 million during the quarter, compared to analysts’ expectations of $598.96 million. E*TRADE Financial Corporation had a net margin of 27.35% and a return on equity of 9.34%. The business’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period last year, the business earned $0.51 EPS. On average, equities research analysts anticipate that E*TRADE Financial Corporation will post $2.24 EPS for the current fiscal year.

E*TRADE Financial Corporation declared that its Board of Directors has initiated a stock buyback plan on Thursday, July 20th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 9.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

In other E*TRADE Financial Corporation news, CFO Michael A. Pizzi sold 9,977 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $39.41, for a total value of $393,193.57. Following the transaction, the chief financial officer now directly 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 SEC, which is available through this link. Also, CEO Karl A. Roessner sold 14,898 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 232,702 shares in the company, valued at $9,170,785.82. The disclosure for this sale can be found here. Over the last three months, insiders sold 66,927 shares of company stock worth $2,679,327. Insiders own 0.17% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of ETFC. BT Investment Management Ltd acquired a new position in E*TRADE Financial Corporation in the second quarter valued at approximately $97,155,000. FMR LLC lifted its stake in E*TRADE Financial Corporation by 24.3% in the second quarter. FMR LLC now owns 10,737,023 shares of the financial services provider’s stock valued at $408,329,000 after buying an additional 2,096,445 shares during the period. Victory Capital Management Inc. lifted its stake in E*TRADE Financial Corporation by 25.3% in the second quarter. Victory Capital Management Inc. now owns 7,845,331 shares of the financial services provider’s stock valued at $298,357,000 after buying an additional 1,586,062 shares during the period. Janus Henderson Group PLC lifted its stake in E*TRADE Financial Corporation by 3,455.2% in the second quarter. Janus Henderson Group PLC now owns 1,462,286 shares of the financial services provider’s stock valued at $55,611,000 after buying an additional 1,421,155 shares during the period. Finally, Bank of Montreal Can lifted its stake in E*TRADE Financial Corporation by 217.7% in the second quarter. Bank of Montreal Can now owns 1,674,953 shares of the financial services provider’s stock valued at $63,698,000 after buying an additional 1,147,757 shares during the period. 92.62% of the stock is currently owned by hedge funds and other institutional investors.

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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)

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