E*TRADE Financial (NASDAQ:ETFC) had its target price trimmed by Raymond James from $70.00 to $64.00 in a research report released on Friday. The firm currently has a strong-buy rating on the financial services provider’s stock.
A number of other brokerages have also recently issued reports on ETFC. Zacks Investment Research cut shares of E*TRADE Financial from a buy rating to a hold rating in a report on Tuesday, June 26th. BidaskClub cut shares of E*TRADE Financial from a buy rating to a hold rating in a report on Wednesday, June 27th. Wells Fargo & Co restated a buy rating on shares of E*TRADE Financial in a report on Wednesday, July 11th. Morgan Stanley upped their price target on shares of E*TRADE Financial from $74.00 to $78.00 and gave the company an overweight rating in a report on Thursday, July 12th. Finally, Credit Suisse Group decreased their price target on shares of E*TRADE Financial from $79.00 to $77.00 and set an outperform rating for the company in a report on Friday, July 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Buy and a consensus price target of $66.44.
NASDAQ:ETFC traded up $0.16 during trading hours on Friday, reaching $49.08. The company’s stock had a trading volume of 7,188,332 shares, compared to its average volume of 3,323,972. The stock has a market capitalization of $12.91 billion, a PE ratio of 22.41, a P/E/G ratio of 0.84 and a beta of 1.08. E*TRADE Financial has a one year low of $42.55 and a one year high of $66.46. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.43.
E*TRADE Financial (NASDAQ:ETFC) last issued its quarterly earnings data on Thursday, October 18th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.17. The firm had revenue of $720.00 million during the quarter, compared to analysts’ expectations of $710.62 million. E*TRADE Financial had a net margin of 32.83% and a return on equity of 15.37%. E*TRADE Financial’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 earnings per share. On average, sell-side analysts forecast that E*TRADE Financial will post 3.63 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Tuesday, October 30th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Monday, October 29th.
A number of hedge funds have recently added to or reduced their stakes in ETFC. BlackRock Inc. raised its position in shares of E*TRADE Financial by 16.7% during the second quarter. BlackRock Inc. now owns 25,360,724 shares of the financial services provider’s stock valued at $1,551,060,000 after buying an additional 3,638,467 shares during the last quarter. Voya Investment Management LLC raised its position in shares of E*TRADE Financial by 2,043.1% during the second quarter. Voya Investment Management LLC now owns 2,921,063 shares of the financial services provider’s stock valued at $178,653,000 after buying an additional 2,784,761 shares during the last quarter. FMR LLC raised its position in shares of E*TRADE Financial by 10.5% during the second quarter. FMR LLC now owns 15,313,266 shares of the financial services provider’s stock valued at $936,560,000 after buying an additional 1,452,296 shares during the last quarter. Calamos Advisors LLC acquired a new position in shares of E*TRADE Financial during the second quarter valued at about $64,217,000. Finally, Bank of Montreal Can acquired a new position in shares of E*TRADE Financial during the second quarter valued at about $48,434,000. Institutional investors own 90.80% of the company’s stock.
E*TRADE Financial 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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