E*TRADE Financial (NASDAQ:ETFC) Given New $53.00 Price Target at JMP Securities

E*TRADE Financial (NASDAQ:ETFC) had its price target boosted by JMP Securities from $50.00 to $53.00 in a research note released on Monday, BenzingaRatingsTable reports. JMP Securities currently has a market outperform rating on the financial services provider’s stock.

A number of other research analysts also recently issued reports on the company. UBS Group increased their price objective on E*TRADE Financial from $41.00 to $47.00 and gave the stock a buy rating in a report on Friday, October 18th. Raymond James increased their price objective on E*TRADE Financial from $45.00 to $47.00 and gave the stock an outperform rating in a report on Friday, October 18th. BidaskClub downgraded E*TRADE Financial from a strong-buy rating to a buy rating in a report on Friday, December 20th. Morgan Stanley increased their price objective on E*TRADE Financial from $46.00 to $48.00 and gave the stock an overweight rating in a report on Monday, October 21st. Finally, ValuEngine upgraded E*TRADE Financial from a sell rating to a hold rating in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $47.88.

NASDAQ:ETFC opened at $46.76 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.28 and a current ratio of 0.28. The company has a market cap of $11.33 billion, a PE ratio of 12.02, a PEG ratio of 1.67 and a beta of 1.22. E*TRADE Financial has a 52-week low of $34.68 and a 52-week high of $52.35. The stock has a 50-day simple moving average of $45.45 and a 200 day simple moving average of $43.72.

E*TRADE Financial (NASDAQ:ETFC) last posted its quarterly earnings data on Thursday, October 17th. The financial services provider reported $1.08 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.07. The business had revenue of $767.00 million during the quarter, compared to the consensus estimate of $742.83 million. E*TRADE Financial had a return on equity of 18.41% and a net margin of 35.79%. E*TRADE Financial’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the company earned $1.00 earnings per share. On average, research analysts predict that E*TRADE Financial will post 4.1 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. APG Asset Management N.V. lifted its position in shares of E*TRADE Financial by 17.4% in the second quarter. APG Asset Management N.V. now owns 29,000 shares of the financial services provider’s stock valued at $1,136,000 after buying an additional 4,300 shares during the last quarter. Voya Financial Advisors Inc. lifted its position in shares of E*TRADE Financial by 5.5% in the third quarter. Voya Financial Advisors Inc. now owns 6,752 shares of the financial services provider’s stock valued at $292,000 after buying an additional 355 shares during the last quarter. 180 Wealth Advisors LLC acquired a new stake in shares of E*TRADE Financial in the third quarter valued at approximately $587,000. BlackRock Inc. lifted its position in shares of E*TRADE Financial by 2.4% in the second quarter. BlackRock Inc. now owns 19,972,522 shares of the financial services provider’s stock valued at $890,775,000 after buying an additional 469,538 shares during the last quarter. Finally, Boston Partners lifted its position in shares of E*TRADE Financial by 14.1% in the third quarter. Boston Partners now owns 5,615,439 shares of the financial services provider’s stock valued at $245,319,000 after buying an additional 693,350 shares during the last quarter. Hedge funds and other institutional investors own 84.83% 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.

Further Reading: Initial Coin Offering (ICO)

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

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