Morgan Stanley Increases E*TRADE Financial (NASDAQ:ETFC) Price Target to $48.00

E*TRADE Financial (NASDAQ:ETFC) had its price target hoisted by investment analysts at Morgan Stanley from $46.00 to $48.00 in a research note issued on Monday, BenzingaRatingsTable reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s price objective would indicate a potential upside of 18.61% from the stock’s current price.

Several other equities analysts have also issued reports on ETFC. Wells Fargo & Co raised their price target on E*TRADE Financial from $37.00 to $40.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. JMP Securities lifted their price objective on E*TRADE Financial to $63.00 and gave the stock a “market perform” rating in a research report on Friday, July 19th. ValuEngine lowered E*TRADE Financial from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 1st. UBS Group lifted their price objective on E*TRADE Financial from $41.00 to $47.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, Raymond James lifted their price objective on E*TRADE Financial from $45.00 to $47.00 and gave the stock an “outperform” rating in a research report on Friday, October 18th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $48.19.

ETFC opened at $40.47 on Monday. The stock’s 50 day simple moving average is $41.47 and its 200 day simple moving average is $45.18. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.28 and a quick ratio of 0.27. E*TRADE Financial has a 1 year low of $34.68 and a 1 year high of $54.44. The firm has a market cap of $9.99 billion, a price-to-earnings ratio of 10.40, a PEG ratio of 1.41 and a beta of 1.21.

E*TRADE Financial (NASDAQ:ETFC) last posted its quarterly earnings results on Thursday, October 17th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.07. E*TRADE Financial had a return on equity of 18.41% and a net margin of 35.79%. The business had revenue of $767.00 million for the quarter, compared to analyst estimates of $742.83 million. During the same period last year, the company earned $1.00 EPS. E*TRADE Financial’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that E*TRADE Financial will post 4.08 EPS for the current year.

E*TRADE Financial announced that its Board of Directors has authorized a share buyback program on Thursday, July 18th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to repurchase up to 12.9% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

In other news, EVP Michael John Curcio sold 53,584 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $45.18, for a total value of $2,420,925.12. Following the completion of the transaction, the executive vice president now owns 149,159 shares in the company, valued at approximately $6,739,003.62. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Rodger A. Lawson sold 5,109 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $45.18, for a total value of $230,824.62. Following the completion of the transaction, the director now 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. 0.20% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ETFC. United Bank lifted its stake in shares of E*TRADE Financial by 12.2% in the 1st quarter. United Bank now owns 6,530 shares of the financial services provider’s stock valued at $303,000 after purchasing an additional 710 shares during the period. Pensionfund DSM Netherlands bought a new stake in shares of E*TRADE Financial in the 2nd quarter worth $2,141,000. Pensionfund Sabic bought a new stake in shares of E*TRADE Financial in the 2nd quarter worth $1,472,000. Tributary Capital Management LLC increased its holdings in shares of E*TRADE Financial by 51.0% in the 2nd quarter. Tributary Capital Management LLC now owns 22,200 shares of the financial services provider’s stock worth $990,000 after purchasing an additional 7,500 shares in the last quarter. Finally, Xact Kapitalforvaltning AB increased its holdings in shares of E*TRADE Financial by 9.8% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 43,304 shares of the financial services provider’s stock worth $1,931,000 after purchasing an additional 3,869 shares in the last quarter. Institutional investors own 90.29% of the company’s stock.

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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