Shares of E-Trade Financial Corp. (NASDAQ:ETFC) have earned a consensus rating of “Buy” from the eighteen brokerages that are covering the stock. Six research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $31.94.

Several research firms recently weighed in on ETFC. Credit Suisse Group AG began coverage on shares of E-Trade Financial Corp. in a report on Wednesday, September 21st. They set an “outperform” rating and a $33.00 price target on the stock. SunTrust Banks Inc. boosted their price target on shares of E-Trade Financial Corp. from $31.00 to $34.00 and gave the stock a “hold” rating in a report on Tuesday. Buckingham Research restated a “buy” rating and set a $33.00 price target on shares of E-Trade Financial Corp. in a report on Monday, October 24th. Bank of America Corp. restated a “buy” rating and set a $28.00 price target on shares of E-Trade Financial Corp. in a report on Tuesday, September 13th. Finally, Nomura restated a “buy” rating and set a $32.00 price target on shares of E-Trade Financial Corp. in a report on Wednesday, August 3rd.

COPYRIGHT VIOLATION NOTICE: This article was posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this article on another domain, it was copied illegally and reposted in violation of U.S. & international trademark and copyright legislation. The original version of this article can be read at https://www.thecerbatgem.com/2016/11/30/e-trade-financial-corp-etfc-given-average-recommendation-of-buy-by-analysts.html.

Shares of E-Trade Financial Corp. (NASDAQ:ETFC) traded up 1.7320% during trading on Wednesday, reaching $34.6601. 1,569,047 shares of the company were exchanged. The firm has a market cap of $9.51 billion, a price-to-earnings ratio of 19.1281 and a beta of 1.69. The stock’s 50-day moving average is $30.23 and its 200-day moving average is $27.06. E-Trade Financial Corp. has a 52-week low of $19.61 and a 52-week high of $34.89.

E-Trade Financial Corp. (NASDAQ:ETFC) last announced its earnings results on Thursday, October 20th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.13. E-Trade Financial Corp. had a net margin of 27.25% and a return on equity of 8.31%. The business earned $486 million during the quarter, compared to the consensus estimate of $645 million. During the same quarter last year, the firm earned $0.48 earnings per share. E-Trade Financial Corp.’s quarterly revenue was up 12.8% on a year-over-year basis. Equities research analysts predict that E-Trade Financial Corp. will post $1.82 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of the company. LPL Financial LLC raised its position in shares of E-Trade Financial Corp. by 2.3% in the first quarter. LPL Financial LLC now owns 74,877 shares of the company’s stock worth $1,793,000 after buying an additional 1,694 shares during the last quarter. Seven Eight Capital LLC bought a new position in shares of E-Trade Financial Corp. during the first quarter worth approximately $196,000. Royal Bank of Canada raised its position in shares of E-Trade Financial Corp. by 17.8% in the first quarter. Royal Bank of Canada now owns 859,249 shares of the company’s stock worth $21,044,000 after buying an additional 129,580 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in shares of E-Trade Financial Corp. by 54.0% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 23,004 shares of the company’s stock worth $564,000 after buying an additional 8,064 shares during the last quarter. Finally, First Republic Investment Management Inc. raised its position in shares of E-Trade Financial Corp. by 17.7% in the first quarter. First Republic Investment Management Inc. now owns 68,759 shares of the company’s stock worth $1,684,000 after buying an additional 10,358 shares during the last quarter. 90.55% of the stock is currently owned by hedge funds and other institutional investors.

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.

5 Day Chart for NASDAQ:ETFC

Receive News & Stock Ratings for E-Trade Financial Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for E-Trade Financial Corp. and related stocks with our FREE daily email newsletter.