E*TRADE Financial Corporation (NASDAQ:ETFC) Coverage Initiated by Analysts at Rosenblatt Securities

Rosenblatt Securities initiated coverage on shares of E*TRADE Financial Corporation (NASDAQ:ETFC) in a research report released on Thursday, July 13th, Marketbeat Ratings reports. The brokerage issued a buy rating and a $43.00 price objective on the financial services provider’s stock.

A number of other equities analysts have also recently commented on ETFC. JMP Securities cut their price target on shares of E*TRADE Financial Corporation from $42.00 to $41.00 and set an outperform rating for the company in a research note on Monday, March 20th. UBS AG reissued a buy rating and issued a $43.00 price target on shares of E*TRADE Financial Corporation in a research note on Wednesday, March 22nd. Zacks Investment Research cut shares of E*TRADE Financial Corporation from a hold rating to a sell rating in a research note on Monday, April 3rd. Deutsche Bank AG cut their price target on shares of E*TRADE Financial Corporation from $40.00 to $39.00 and set a buy rating for the company in a research note on Thursday, April 6th. Finally, Keefe, Bruyette & Woods reissued a hold rating and issued a $41.00 price target on shares of E*TRADE Financial Corporation in a research note on Friday, April 21st. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The company has a consensus rating of Buy and an average target price of $40.94.

E*TRADE Financial Corporation (ETFC) opened at 41.23 on Thursday. E*TRADE Financial Corporation has a 52 week low of $24.85 and a 52 week high of $42.19. The company has a 50-day moving average of $39.15 and a 200 day moving average of $36.32. The company has a market cap of $11.36 billion, a P/E ratio of 19.27 and a beta of 1.48.

E*TRADE Financial Corporation (NASDAQ:ETFC) last released its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $553.31 million. During the same quarter in the previous year, the company earned $0.48 EPS. The business’s quarterly revenue was up 21.7% compared to the same quarter last year. On average, equities analysts forecast that E*TRADE Financial Corporation will post $2.26 EPS for the current fiscal year.

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E*TRADE Financial Corporation announced that its board has approved a share buyback 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 repurchase up to 9.2% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

In other E*TRADE Financial Corporation news, insider Brent Simonich sold 5,696 shares of the business’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $41.50, for a total transaction of $236,384.00. Following the transaction, the insider now directly owns 31,557 shares of the company’s stock, valued at approximately $1,309,615.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James P. Healy acquired 5,000 shares of E*TRADE Financial Corporation stock in a transaction on Tuesday, July 25th. The shares were bought at an average cost of $41.97 per share, for a total transaction of $209,850.00. Following the completion of the transaction, the director now owns 40,792 shares in the company, valued at approximately $1,712,040.24. The disclosure for this purchase can be found here. Corporate insiders own 0.17% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Advisors Asset Management Inc. increased its position in shares of E*TRADE Financial Corporation by 80.8% in the second quarter. Advisors Asset Management Inc. now owns 3,239 shares of the financial services provider’s stock worth $123,000 after buying an additional 1,448 shares during the last quarter. Exane Derivatives bought a new position in shares of E*TRADE Financial Corporation during the second quarter worth about $130,000. Americafirst Capital Management LLC bought a new position in shares of E*TRADE Financial Corporation during the first quarter worth about $152,000. Ladenburg Thalmann Financial Services Inc. increased its position in shares of E*TRADE Financial Corporation by 107.5% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,291 shares of the financial services provider’s stock worth $153,000 after buying an additional 2,223 shares during the last quarter. Finally, Meeder Asset Management Inc. increased its position in shares of E*TRADE Financial Corporation by 163.9% in the second quarter. Meeder Asset Management Inc. now owns 5,656 shares of the financial services provider’s stock worth $215,000 after buying an additional 3,513 shares during the last quarter. 93.19% of the stock is currently 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)

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