E-Trade Financial Corp. (NASDAQ:ETFC)’s share price gapped up before the market opened on Friday after Barclays PLC raised their price target on the stock from $30.00 to $33.00. The stock had previously closed at $27.97, but opened at $28.12. Barclays PLC currently has an overweight rating on the stock. E-Trade Financial Corp. shares last traded at $28.57, with a volume of 1,230,337 shares traded.

Several other equities analysts have also recently commented on the stock. Jefferies Group increased their price target on shares of E-Trade Financial Corp. from $28.00 to $31.00 and gave the stock a “hold” rating in a research report on Tuesday. Bank of America Corp. cut shares of E-Trade Financial Corp. from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a research report on Thursday. Nomura reaffirmed a “buy” rating and set a $32.00 price target (up previously from $30.00) on shares of E-Trade Financial Corp. in a research report on Monday, July 25th. Credit Suisse Group AG initiated coverage on shares of E-Trade Financial Corp. in a research report on Wednesday, September 21st. They set an “outperform” rating and a $33.00 price target on the stock. Finally, Morgan Stanley initiated coverage on shares of E-Trade Financial Corp. in a research report on Monday, September 26th. They set an “equal weight” rating and a $29.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $31.12.

A number of hedge funds have recently modified their holdings of ETFC. Vanguard Group Inc. boosted its stake in shares of E-Trade Financial Corp. by 0.9% in the second quarter. Vanguard Group Inc. now owns 25,221,597 shares of the company’s stock worth $592,455,000 after buying an additional 218,178 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of E-Trade Financial Corp. by 1.2% in the second quarter. Bank of New York Mellon Corp now owns 13,940,715 shares of the company’s stock worth $327,468,000 after buying an additional 170,691 shares during the last quarter. Primecap Management Co. CA boosted its stake in shares of E-Trade Financial Corp. by 5.0% in the second quarter. Primecap Management Co. CA now owns 11,913,900 shares of the company’s stock worth $279,858,000 after buying an additional 570,600 shares during the last quarter. State Street Corp boosted its stake in shares of E-Trade Financial Corp. by 0.5% in the second quarter. State Street Corp now owns 11,500,647 shares of the company’s stock worth $270,149,000 after buying an additional 54,252 shares during the last quarter. Finally, Southpoint Capital Advisors LP boosted its stake in shares of E-Trade Financial Corp. by 44.9% in the first quarter. Southpoint Capital Advisors LP now owns 5,000,000 shares of the company’s stock worth $122,450,000 after buying an additional 1,550,000 shares during the last quarter. Hedge funds and other institutional investors own 91.48% of the company’s stock.

The firm has a 50 day moving average price of $27.77 and a 200 day moving average price of $25.79. The firm has a market capitalization of $7.91 billion, a PE ratio of 37.43 and a beta of 1.70.

E-Trade Financial Corp. (NASDAQ:ETFC) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.10. The firm had revenue of $474 million for the quarter, compared to analyst estimates of $472.50 million. E-Trade Financial Corp. had a net margin of 15.07% and a return on equity of 7.64%. On average, equities analysts predict that E-Trade Financial Corp. will post $1.70 EPS for the current fiscal year.

About E-Trade Financial Corp.

E*Trade Financial Corporation is a financial services company. The Company provides 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.

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