E*TRADE Financial Corp (ETFC) Given Average Recommendation of “Buy” by Analysts

E*TRADE Financial Corp (NASDAQ:ETFC) has received a consensus rating of “Buy” from the nineteen research firms that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $64.47.

ETFC has been the topic of a number of analyst reports. BidaskClub lowered shares of E*TRADE Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, July 17th. Bank of America decreased their target price on shares of E*TRADE Financial from $67.00 to $62.00 and set a “buy” rating on the stock in a research report on Wednesday, September 26th. Raymond James decreased their target price on shares of E*TRADE Financial from $70.00 to $64.00 and set a “strong-buy” rating on the stock in a research report on Friday, October 19th. Credit Suisse Group decreased their target price on shares of E*TRADE Financial from $79.00 to $77.00 and set an “outperform” rating on the stock in a research report on Friday, July 20th. Finally, ValuEngine lowered shares of E*TRADE Financial from a “buy” rating to a “hold” rating in a research report on Friday, July 20th.

Several hedge funds and other institutional investors have recently bought and sold shares of ETFC. BlackRock Inc. boosted its position in shares of E*TRADE Financial by 16.7% during the 2nd quarter. BlackRock Inc. now owns 25,360,724 shares of the financial services provider’s stock worth $1,551,060,000 after acquiring an additional 3,638,467 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of E*TRADE Financial by 2,043.1% during the 2nd quarter. Voya Investment Management LLC now owns 2,921,063 shares of the financial services provider’s stock worth $178,653,000 after acquiring an additional 2,784,761 shares in the last quarter. FMR LLC boosted its position in shares of E*TRADE Financial by 10.5% during the 2nd quarter. FMR LLC now owns 15,313,266 shares of the financial services provider’s stock worth $936,560,000 after acquiring an additional 1,452,296 shares in the last quarter. Calamos Advisors LLC acquired a new stake in shares of E*TRADE Financial during the 2nd quarter worth approximately $64,217,000. Finally, First Trust Advisors LP boosted its position in shares of E*TRADE Financial by 23.3% during the 3rd quarter. First Trust Advisors LP now owns 4,659,032 shares of the financial services provider’s stock worth $244,087,000 after acquiring an additional 879,210 shares in the last quarter. Institutional investors and hedge funds own 91.15% of the company’s stock.

Shares of NASDAQ:ETFC opened at $51.11 on Friday. E*TRADE Financial has a 12-month low of $42.56 and a 12-month high of $66.46. The company has a market cap of $13.49 billion, a price-to-earnings ratio of 23.34, a price-to-earnings-growth ratio of 0.80 and a beta of 1.09. The company has a current ratio of 0.28, a quick ratio of 0.28 and a debt-to-equity ratio of 0.32.

E*TRADE Financial (NASDAQ:ETFC) last announced its earnings results 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. E*TRADE Financial had a net margin of 32.83% and a return on equity of 15.45%. The firm had revenue of $720.00 million for the quarter, compared to analyst estimates of $710.62 million. During the same quarter in the prior year, the business posted $0.49 EPS. The business’s revenue was up 20.2% compared to the same quarter last year. Equities analysts expect that E*TRADE Financial will post 3.77 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Tuesday, October 30th will be given a dividend of $0.14 per share. The ex-dividend date is Monday, October 29th. This represents a $0.56 annualized dividend and a dividend yield of 1.10%. E*TRADE Financial’s dividend payout ratio is 25.57%.

E*TRADE Financial announced that its board has initiated a stock buyback program on Thursday, October 18th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 7.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

About E*TRADE Financial

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

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