E*TRADE Financial (ETFC) Coverage Initiated by Analysts at Credit Suisse Group

Equities researchers at Credit Suisse Group began coverage on shares of E*TRADE Financial (NASDAQ:ETFC) in a report released on Thursday, The Fly reports. The brokerage set an “outperform” rating on the financial services provider’s stock.

Other research analysts have also recently issued reports about the stock. SunTrust Banks reaffirmed a “buy” rating and issued a $50.00 target price on shares of E*TRADE Financial in a report on Monday, September 18th. Barclays increased their target price on shares of E*TRADE Financial from $45.00 to $49.00 and gave the company an “overweight” rating in a report on Tuesday, October 10th. Zacks Investment Research cut shares of E*TRADE Financial from a “buy” rating to a “hold” rating in a report on Monday, November 13th. Wells Fargo & Company increased their target price on shares of E*TRADE Financial from $49.00 to $51.00 and gave the company an “outperform” rating in a report on Friday, October 20th. Finally, Bank of America raised shares of E*TRADE Financial from a “neutral” rating to a “buy” rating and increased their target price for the company from $44.00 to $49.00 in a report on Monday, October 9th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. E*TRADE Financial currently has a consensus rating of “Buy” and a consensus target price of $46.79.

Shares of E*TRADE Financial (ETFC) traded up $0.36 during trading hours on Thursday, reaching $48.14. 3,374,693 shares of the company were exchanged, compared to its average volume of 2,696,834. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.27 and a current ratio of 0.27. The firm has a market capitalization of $12,410.82, a P/E ratio of 23.39, a P/E/G ratio of 1.64 and a beta of 1.44. E*TRADE Financial has a 1 year low of $32.25 and a 1 year high of $48.72.

E*TRADE Financial (NASDAQ:ETFC) last announced its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.04. E*TRADE Financial had a net margin of 27.35% and a return on equity of 9.34%. The firm had revenue of $599.00 million during the quarter, compared to the consensus estimate of $598.96 million. During the same quarter last year, the firm earned $0.51 earnings per share. The firm’s revenue was up 23.3% compared to the same quarter last year. analysts predict that E*TRADE Financial will post 2.26 earnings per share for the current fiscal year.

In other news, CEO Karl A. Roessner sold 8,578 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $40.49, for a total transaction of $347,323.22. Following the completion of the transaction, the chief executive officer now directly owns 225,731 shares of the company’s stock, valued at approximately $9,139,848.19. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael John Curcio sold 33,474 shares of the firm’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 transaction of $1,351,680.12. Following the transaction, the insider now directly owns 267,151 shares of the company’s stock, valued at $10,787,557.38. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Eagle Asset Management grew its stake in E*TRADE Financial by 99.9% in the 3rd quarter. Eagle Asset Management now owns 337,678 shares of the financial services provider’s stock worth $8,890,000 after acquiring an additional 168,780 shares during the period. Janus Capital Management grew its stake in E*TRADE Financial by 2.8% in the 3rd quarter. Janus Capital Management now owns 13,250,288 shares of the financial services provider’s stock worth $348,887,000 after acquiring an additional 355,963 shares during the period. River & Mercantile Asset Management purchased a new stake in E*TRADE Financial in the 4th quarter worth approximately $1,075,000. ICON Advisers purchased a new stake in E*TRADE Financial in the 3rd quarter worth approximately $3,110,000. Finally, Fisher Asset Management grew its stake in E*TRADE Financial by 9.3% in the 4th quarter. Fisher Asset Management now owns 731,568 shares of the financial services provider’s stock worth $21,684,000 after acquiring an additional 61,946 shares during the period. 93.40% of the stock is owned by institutional investors and hedge funds.

WARNING: “E*TRADE Financial (ETFC) Coverage Initiated by Analysts at Credit Suisse Group” was posted by American Banking News and is the property of of American Banking News. If you are viewing this article on another site, it was illegally copied and reposted in violation of US & international trademark & copyright laws. The correct version of this article can be read at https://www.americanbankingnews.com/2017/11/30/etrade-financial-etfc-coverage-initiated-by-analysts-at-credit-suisse-group.html.

E*TRADE Financial 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.

The Fly

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

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

Leave a Reply