Sandler O’Neill reiterated their hold rating on shares of E-Trade (NASDAQ:ETFC) in a research report sent to investors on Thursday, March 15th. They currently have a $58.00 price objective on the financial services provider’s stock.
Several other brokerages have also recently commented on ETFC. Morgan Stanley upgraded shares of E-Trade from an equal weight rating to an overweight rating and reduced their price objective for the company from $44.00 to $43.00 in a research note on Wednesday, January 3rd. UBS upgraded shares of E-Trade from an outperform rating to a strong-buy rating in a research report on Monday, March 12th. SunTrust Banks lifted their target price on shares of E-Trade to $65.00 and gave the stock a buy rating in a research report on Friday, January 26th. BidaskClub upgraded shares of E-Trade from a buy rating to a strong-buy rating in a research report on Saturday, February 17th. Finally, Wells Fargo restated an outperform rating and set a $60.00 target price (up previously from $51.00) on shares of E-Trade in a research report on Thursday, January 4th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $57.50.
Shares of NASDAQ:ETFC opened at $55.24 on Thursday. The stock has a market capitalization of $15,070.91, a PE ratio of 25.22, a PEG ratio of 0.76 and a beta of 1.29. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.30. E-Trade has a fifty-two week low of $33.06 and a fifty-two week high of $58.49.
E-Trade (NASDAQ:ETFC) last issued its earnings results on Thursday, January 25th. The financial services provider reported $0.48 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by ($0.13). The firm had revenue of $637.00 million during 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 firm’s revenue was up 25.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.46 EPS. equities analysts predict that E-Trade will post 3.27 earnings per share for the current fiscal year.
In other E-Trade news, insider Michael John Curcio sold 34,158 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $51.74, for a total transaction of $1,767,334.92. Following the completion of the sale, the insider now directly owns 207,235 shares in the company, valued at $10,722,338.90. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Brent Simonich sold 7,680 shares of the business’s stock in a transaction that occurred on Tuesday, March 6th. The stock was sold at an average price of $53.00, for a total transaction of $407,040.00. Following the sale, the insider now owns 26,240 shares of the company’s stock, valued at $1,390,720. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 232,579 shares of company stock valued at $12,040,724. 0.17% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in the company. Terra Nova Asset Management LLC boosted its stake in shares of E-Trade by 6.3% in 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. Vident Investment Advisory LLC boosted its stake in shares of E-Trade by 2.0% in the fourth quarter. Vident Investment Advisory LLC now owns 64,560 shares of the financial services provider’s stock valued at $3,489,000 after purchasing an additional 1,257 shares during the period. Norinchukin Bank The boosted its stake in shares of E-Trade by 10.9% in the fourth quarter. Norinchukin Bank The now owns 13,570 shares of the financial services provider’s stock valued at $673,000 after purchasing an additional 1,329 shares during the period. Wealthfront Inc. boosted its stake in shares of E-Trade by 11.9% in the fourth quarter. Wealthfront Inc. now owns 13,032 shares of the financial services provider’s stock valued at $646,000 after purchasing an additional 1,385 shares during the period. Finally, Moody Lynn & Lieberson LLC boosted its stake in shares of E-Trade by 15.0% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 11,685 shares of the financial services provider’s stock valued at $612,000 after purchasing an additional 1,525 shares during the period. Institutional investors and hedge funds own 93.20% of the company’s stock.
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E-Trade Company Profile
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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