E*TRADE Financial Corporation (NASDAQ:ETFC)‘s stock had its “outperform” rating reissued by equities research analysts at JMP Securities in a report released on Sunday, July 23rd. They presently have a $44.00 target price on the financial services provider’s stock, up from their prior target price of $42.00. JMP Securities’ target price would suggest a potential upside of 10.78% from the company’s previous close.

Several other brokerages also recently commented on ETFC. Deutsche Bank AG lifted their target price on E*TRADE Financial Corporation from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Friday, July 21st. Bank of America Corporation lifted their price target on E*TRADE Financial Corporation from $40.00 to $44.00 and gave the stock a “neutral” rating in a report on Friday, July 21st. ValuEngine cut E*TRADE Financial Corporation from a “buy” rating to a “hold” rating in a report on Saturday, July 22nd. Instinet reissued a “buy” rating and set a $47.00 price target (up from $44.00) on shares of E*TRADE Financial Corporation in a report on Saturday, July 22nd. Finally, Jefferies Group LLC reissued a “hold” rating and set a $43.00 price target (up from $39.00) on shares of E*TRADE Financial Corporation in a report on Saturday, July 22nd. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $40.94.

Shares of E*TRADE Financial Corporation (NASDAQ ETFC) traded up 0.28% during midday trading on Friday, reaching $39.72. 3,053,133 shares of the company were exchanged. The firm’s 50 day moving average is $40.11 and its 200-day moving average is $36.57. The company has a market capitalization of $10.94 billion, a PE ratio of 18.56 and a beta of 1.48. E*TRADE Financial Corporation has a 52-week low of $24.96 and a 52-week high of $42.19.

E*TRADE Financial Corporation (NASDAQ:ETFC) last issued its earnings results on Thursday, July 20th. The financial services provider reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.04. E*TRADE Financial Corporation had a return on equity of 9.06% and a net margin of 28.42%. The company had revenue of $577 million during the quarter, compared to the consensus estimate of $553.31 million. During the same period in the previous year, the company posted $0.48 EPS. The firm’s revenue for the quarter was up 21.7% compared to the same quarter last year. On average, equities analysts forecast that E*TRADE Financial Corporation will post $2.25 earnings per share for the current fiscal year.

E*TRADE Financial Corporation announced that its Board of Directors has authorized a share repurchase program on Thursday, July 20th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 9.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

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In other E*TRADE Financial Corporation news, insider Brent Simonich sold 5,696 shares of the company’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $41.50, for a total value of $236,384.00. Following the sale, the insider now owns 31,557 shares in the company, valued at approximately $1,309,615.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James P. Healy purchased 5,000 shares of E*TRADE Financial Corporation stock in a transaction on Tuesday, July 25th. The stock was bought at an average price of $41.97 per share, for a total transaction of $209,850.00. Following the transaction, the director now directly owns 40,792 shares in the company, valued at approximately $1,712,040.24. The disclosure for this purchase can be found here. Insiders own 0.17% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. Toronto Dominion Bank raised its stake in E*TRADE Financial Corporation by 25.6% in the second quarter. Toronto Dominion Bank now owns 93,052 shares of the financial services provider’s stock worth $3,538,000 after buying an additional 18,938 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in E*TRADE Financial Corporation during the second quarter worth approximately $1,139,000. WINTON GROUP Ltd bought a new stake in E*TRADE Financial Corporation during the second quarter worth approximately $245,000. Piedmont Investment Advisors LLC bought a new stake in E*TRADE Financial Corporation during the second quarter worth approximately $4,117,000. Finally, Krilogy Financial LLC raised its stake in shares of E*TRADE Financial Corporation by 7.5% in the second quarter. Krilogy Financial LLC now owns 3,710 shares of the financial services provider’s stock valued at $141,000 after buying an additional 260 shares during the last quarter. Hedge funds and other institutional investors own 94.35% of the company’s stock.

E*TRADE Financial Corporation Company Profile

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

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

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