Credit Suisse Group set a $57.00 price target on E*TRADE Financial (NASDAQ:ETFC) in a research note published on Friday, TipRanks reports. The firm currently has a buy rating on the financial services provider’s stock.
A number of other brokerages also recently issued reports on ETFC. Zacks Investment Research downgraded shares of Hammerson from a hold rating to a sell rating in a report on Friday, May 24th. Keefe, Bruyette & Woods increased their price target on shares of Fidelity National Financial from $44.00 to $48.00 and gave the company an outperform rating in a report on Friday. Barclays set a $89.00 price target on shares of Franco Nevada and gave the company a hold rating in a report on Friday. JMP Securities increased their price target on shares of E*TRADE Financial to $63.00 and gave the company a market perform rating in a report on Friday. Finally, Morgan Stanley increased their price target on shares of Visa from $175.00 to $191.00 and gave the company an overweight rating in a report on Thursday, July 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company’s stock. E*TRADE Financial presently has an average rating of Buy and an average price target of $56.64.
Shares of ETFC traded up $1.03 during trading hours on Friday, reaching $48.63. The company had a trading volume of 3,604,000 shares, compared to its average volume of 2,551,170. The firm has a 50 day moving average of $45.85. The company has a quick ratio of 0.24, a current ratio of 0.27 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $11.59 billion, a P/E ratio of 12.50, a price-to-earnings-growth ratio of 1.11 and a beta of 1.15. E*TRADE Financial has a 12-month low of $40.41 and a 12-month high of $62.12.
E*TRADE Financial (NASDAQ:ETFC) last announced its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.02. The business had revenue of $685.00 million during the quarter, compared to the consensus estimate of $751.35 million. E*TRADE Financial had a net margin of 36.75% and a return on equity of 18.44%. The business’s revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.95 EPS. Equities research analysts predict that E*TRADE Financial will post 4.25 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 26th. Investors of record on Monday, August 19th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Friday, August 16th. This represents a $0.56 dividend on an annualized basis and a yield of 1.15%. E*TRADE Financial’s payout ratio is 14.40%.
In related news, Director Rodger A. Lawson sold 41,322 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $48.13, for a total value of $1,988,827.86. Following the sale, the director now directly owns 114,753 shares of the company’s stock, valued at approximately $5,523,061.89. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.20% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Liberty Wealth Management LLC acquired a new stake in E*TRADE Financial in the 4th quarter valued at about $27,000. Arrow Financial Corp acquired a new stake in E*TRADE Financial in the 1st quarter valued at about $39,000. Bronfman E.L. Rothschild L.P. grew its stake in E*TRADE Financial by 32.0% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 915 shares of the financial services provider’s stock valued at $40,000 after acquiring an additional 222 shares during the last quarter. NuWave Investment Management LLC boosted its stake in shares of E*TRADE Financial by 2,834.3% during the 1st quarter. NuWave Investment Management LLC now owns 1,027 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 992 shares during the last quarter. Finally, Valeo Financial Advisors LLC boosted its stake in shares of E*TRADE Financial by 1,111.1% during the 1st quarter. Valeo Financial Advisors LLC now owns 1,090 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 1,000 shares during the last quarter. 91.61% of the stock is currently owned by hedge funds and other institutional investors.
E*TRADE Financial Company Profile
E*TRADE Financial Corporation, a financial services company, provides brokerage and related products and services for traders, investors, stock plan administrators and participants, and registered investment advisors (RIAs). It also offers investor-focused banking products, primarily sweep deposits to customers; clearing and settlement services; Federal Deposit Insurance Corporation insurance services; custody solutions to RIAs; other banking and cash management services; software and services for managing equity compensation plans to its corporate clients; retail futures transaction services; and investment advisory services.
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