E*TRADE Financial (NASDAQ:ETFC) Upgraded at BidaskClub

BidaskClub upgraded shares of E*TRADE Financial (NASDAQ:ETFC) from a sell rating to a hold rating in a report issued on Tuesday morning, BidAskClub reports.

ETFC has been the subject of several other research reports. Keefe, Bruyette & Woods lowered shares of E*TRADE Financial from an outperform rating to a market perform rating and lowered their price target for the stock from $55.00 to $45.50 in a report on Monday, September 9th. Zacks Investment Research lowered shares of E*TRADE Financial from a buy rating to a hold rating in a report on Friday, May 24th. Barclays raised their price target on shares of E*TRADE Financial from $53.00 to $56.00 and gave the stock an overweight rating in a report on Friday, July 19th. Deutsche Bank lowered their price objective on shares of E*TRADE Financial from $45.00 to $43.00 and set a hold rating for the company in a research note on Wednesday, August 21st. Finally, JMP Securities lifted their price objective on shares of E*TRADE Financial to $63.00 and gave the company a market perform rating in a research note on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $55.46.

E*TRADE Financial stock opened at $45.07 on Tuesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.27 and a current ratio of 0.27. E*TRADE Financial has a 52-week low of $39.31 and a 52-week high of $56.44. The firm has a 50 day moving average price of $42.80 and a two-hundred day moving average price of $46.37. The firm has a market cap of $11.05 billion, a price-to-earnings ratio of 10.58, a PEG ratio of 0.96 and a beta of 1.20.

E*TRADE Financial (NASDAQ:ETFC) last released its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.02. E*TRADE Financial had a net margin of 36.75% and a return on equity of 18.44%. The firm had revenue of $685.00 million during the quarter, compared to analyst estimates of $751.35 million. During the same quarter last year, the business earned $0.95 EPS. The company’s revenue was down 3.5% compared to the same quarter last year. As a group, equities research analysts predict that E*TRADE Financial will post 4.32 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 26th. Stockholders of record on Monday, August 19th were paid a $0.14 dividend. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.56 annualized dividend and a dividend yield of 1.24%. E*TRADE Financial’s dividend payout ratio is currently 14.40%.

E*TRADE Financial announced that its board has authorized a stock repurchase plan on Thursday, July 18th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the financial services provider to buy up to 12.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

In related news, EVP Michael John Curcio sold 53,584 shares of E*TRADE Financial stock in a transaction on Friday, September 13th. The shares were sold at an average price of $45.18, for a total value of $2,420,925.12. Following the completion of the sale, the executive vice president now owns 149,159 shares of the company’s stock, valued at approximately $6,739,003.62. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Rodger A. Lawson sold 5,109 shares of E*TRADE Financial stock in a transaction on Friday, September 13th. The shares were sold at an average price of $45.18, for a total transaction of $230,824.62. Following the completion of the sale, the director now directly owns 113,739 shares of the company’s stock, valued at approximately $5,138,728.02. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its position in E*TRADE Financial by 2.4% in the 2nd quarter. BlackRock Inc. now owns 19,972,522 shares of the financial services provider’s stock valued at $890,775,000 after purchasing an additional 469,538 shares during the period. Primecap Management Co. CA grew its position in E*TRADE Financial by 1.7% in the 1st quarter. Primecap Management Co. CA now owns 13,565,625 shares of the financial services provider’s stock valued at $629,852,000 after purchasing an additional 229,900 shares during the period. Victory Capital Management Inc. grew its position in E*TRADE Financial by 20.0% in the 2nd quarter. Victory Capital Management Inc. now owns 5,752,931 shares of the financial services provider’s stock valued at $256,581,000 after purchasing an additional 957,204 shares during the period. Boston Partners grew its position in E*TRADE Financial by 5.6% in the 2nd quarter. Boston Partners now owns 4,922,089 shares of the financial services provider’s stock valued at $219,542,000 after purchasing an additional 262,016 shares during the period. Finally, First Trust Advisors LP grew its position in E*TRADE Financial by 10.0% in the 2nd quarter. First Trust Advisors LP now owns 4,276,470 shares of the financial services provider’s stock valued at $190,731,000 after purchasing an additional 389,154 shares during the period. 90.33% of the stock is owned by institutional investors and hedge funds.

About E*TRADE Financial

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

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