E-Trade (NASDAQ:ETFC) had its price target raised by investment analysts at Deutsche Bank from $62.00 to $63.00 in a research note issued to investors on Friday. The firm currently has a “buy” rating on the financial services provider’s stock. Deutsche Bank’s price target would indicate a potential upside of 14.05% from the company’s previous close.
A number of other brokerages have also recently issued reports on ETFC. Morgan Stanley raised E-Trade from an “equal weight” rating to an “overweight” rating and cut their price objective for the company from $44.00 to $43.00 in a report on Wednesday, January 3rd. UBS raised E-Trade from an “outperform” rating to a “strong-buy” rating in a report on Monday, March 12th. SunTrust Banks lifted their price objective on E-Trade to $65.00 and gave the company a “buy” rating in a report on Friday, January 26th. BidaskClub raised E-Trade from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 17th. Finally, 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. Two 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’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $57.50.
Shares of NASDAQ ETFC opened at $55.24 on Friday. The firm has a market cap of $15,070.91, a price-to-earnings ratio of 25.22, a P/E/G ratio of 0.76 and a beta of 1.29. E-Trade has a 52-week low of $33.06 and a 52-week high of $58.49. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.27 and a quick ratio of 0.27.
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 Zacks’ consensus estimate of $0.61 by ($0.13). The company had revenue of $637.00 million for the quarter, compared to the consensus estimate of $629.03 million. E-Trade had a net margin of 25.95% and a return on equity of 10.07%. The firm’s revenue was up 25.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.46 earnings per share. sell-side analysts predict that E-Trade will post 3.27 earnings per share for the current year.
In other E-Trade news, insider Brent Simonich sold 7,680 shares of the business’s stock in a transaction dated Tuesday, March 6th. The stock was sold at an average price of $53.00, for a total transaction of $407,040.00. Following the completion of the sale, the insider now directly owns 26,240 shares of the company’s stock, valued at approximately $1,390,720. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Rodger A. Lawson sold 3,853 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $51.95, for a total value of $200,163.35. Following the sale, the chairman now directly owns 96,966 shares of the company’s stock, valued at $5,037,383.70. The disclosure for this sale can be found here. Insiders sold 232,579 shares of company stock valued at $12,040,724 over the last ninety days. 0.17% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in the business. Xact Kapitalforvaltning AB raised its holdings in E-Trade by 10.0% during the 4th quarter. Xact Kapitalforvaltning AB now owns 25,489 shares of the financial services provider’s stock worth $1,263,000 after purchasing an additional 2,314 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in E-Trade by 275.7% during the 4th quarter. Envestnet Asset Management Inc. now owns 24,776 shares of the financial services provider’s stock worth $1,228,000 after purchasing an additional 18,182 shares during the last quarter. CNB Bank bought a new stake in E-Trade during the 4th quarter worth about $114,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in E-Trade by 127.5% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 338,973 shares of the financial services provider’s stock worth $16,803,000 after purchasing an additional 189,950 shares during the last quarter. Finally, William Blair Investment Management LLC raised its holdings in E-Trade by 12.5% during the 4th quarter. William Blair Investment Management LLC now owns 29,320 shares of the financial services provider’s stock worth $1,453,000 after purchasing an additional 3,264 shares during the last quarter. 93.20% of the stock is owned by hedge funds and other institutional investors.
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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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