E-Trade (NASDAQ:ETFC) – Equities researchers at SunTrust Banks increased their Q1 2018 earnings per share estimates for shares of E-Trade in a report released on Wednesday, March 14th, according to Zacks Investment Research. SunTrust Banks analyst D. Mewhirter now forecasts that the financial services provider will earn $0.79 per share for the quarter, up from their prior estimate of $0.76. SunTrust Banks has a “Buy” rating and a $66.00 price objective on the stock. SunTrust Banks also issued estimates for E-Trade’s FY2018 earnings at $3.27 EPS.
ETFC has been the topic of several other reports. Credit Suisse Group reissued an “outperform” rating and set a $67.00 price objective (up from $56.00) on shares of E-Trade in a report on Tuesday, January 16th. Morgan Stanley raised shares of E-Trade from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $44.00 to $43.00 in a report on Wednesday, January 3rd. Wells Fargo reaffirmed an “outperform” rating and issued a $60.00 price target (up from $51.00) on shares of E-Trade in a report on Thursday, January 4th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $58.00 price target on shares of E-Trade in a report on Thursday, January 11th. Finally, Zacks Investment Research raised shares of E-Trade from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a report on Tuesday, December 19th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $57.50.
ETFC stock traded down $1.60 during trading on Thursday, hitting $55.24. 1,993,051 shares of the company’s stock traded hands, compared to its average volume of 2,759,311. The firm has a market cap of $15,070.91, a price-to-earnings ratio of 25.22, a PEG ratio of 0.76 and a beta of 1.29. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.30. E-Trade has a 1 year low of $33.06 and a 1 year high of $58.49.
E-Trade (NASDAQ:ETFC) last issued its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.13). The business had revenue of $637.00 million for the quarter, compared to analysts’ expectations of $629.03 million. E-Trade had a net margin of 25.95% and a return on equity of 10.07%. The business’s quarterly revenue was up 25.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.46 earnings per share.
In other news, CEO Karl A. Roessner sold 115,059 shares of E-Trade stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $51.79, for a total transaction of $5,958,905.61. Following the completion of the sale, the chief executive officer now directly owns 196,828 shares in the company, valued at $10,193,722.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph L. Sclafani sold 2,000 shares of E-Trade stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $52.75, for a total transaction of $105,500.00. Following the sale, the director now owns 36,304 shares of the company’s stock, valued at $1,915,036. The disclosure for this sale can be found here. Insiders have sold 232,579 shares of company stock valued at $12,040,724 over the last quarter. Insiders own 0.17% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Toronto Dominion Bank lifted its position in E-Trade by 12.0% during the fourth quarter. Toronto Dominion Bank now owns 116,835 shares of the financial services provider’s stock valued at $5,792,000 after purchasing an additional 12,502 shares during the period. Terra Nova Asset Management LLC lifted its position in E-Trade by 6.3% during the fourth quarter. Terra Nova Asset Management LLC now owns 20,886 shares of the financial services provider’s stock valued at $1,035,000 after purchasing an additional 1,235 shares during the period. Hills Bank & Trust Co. lifted its position in E-Trade by 21.6% during the fourth quarter. Hills Bank & Trust Co. now owns 10,905 shares of the financial services provider’s stock valued at $540,000 after purchasing an additional 1,935 shares during the period. Janus Henderson Group PLC lifted its position in E-Trade by 70.6% during the third quarter. Janus Henderson Group PLC now owns 2,494,035 shares of the financial services provider’s stock valued at $108,765,000 after purchasing an additional 1,031,749 shares during the period. Finally, HWG Holdings LP acquired a new position in shares of E-Trade in the fourth quarter worth about $1,952,000. Institutional investors own 93.20% of the company’s stock.
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E*TRADE Financial Corporation, a financial services company, provides brokerage and related products and services primarily to individual retail investors under the E*TRADE Financial brand. It also offers investor-focused banking products, primarily sweep deposits to retail investors; Federal Deposit Insurance Corporation insurance services; clearing and settlement services; investment advisory services; and financial corporate services, such as software and services for managing equity compensation plans to its corporate clients.
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