E*TRADE Financial (NASDAQ:ETFC) Downgraded by BidaskClub to “Sell”

BidaskClub downgraded shares of E*TRADE Financial (NASDAQ:ETFC) from a hold rating to a sell rating in a report issued on Tuesday morning, BidAskClub reports.

Other equities research analysts have also issued research reports about the company. Raymond James set a $57.00 price target on E*TRADE Financial and gave the stock a buy rating in a research note on Friday, July 19th. Compass Point set a $52.00 target price on E*TRADE Financial and gave the stock a buy rating in a report on Tuesday, July 2nd. Credit Suisse Group set a $57.00 target price on E*TRADE Financial and gave the stock a buy rating in a report on Friday, July 19th. Zacks Investment Research downgraded E*TRADE Financial from a buy rating to a hold rating in a report on Friday, May 24th. Finally, Keefe, Bruyette & Woods lifted their target price on E*TRADE Financial from $53.00 to $55.00 and gave the stock an outperform rating in a report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $56.29.

Shares of ETFC stock opened at $41.90 on Tuesday. E*TRADE Financial has a fifty-two week low of $40.41 and a fifty-two week high of $61.69. The stock has a market capitalization of $10.27 billion, a price-to-earnings ratio of 10.77, a price-to-earnings-growth ratio of 0.93 and a beta of 1.15. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.27 and a quick ratio of 0.27. The business’s 50-day simple moving average is $45.80.

E*TRADE Financial (NASDAQ:ETFC) last issued its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.02. E*TRADE Financial had a return on equity of 18.44% and a net margin of 36.75%. The business had revenue of $685.00 million for the quarter, compared to analyst estimates of $751.35 million. During the same quarter in the previous year, the firm earned $0.95 earnings per share. The company’s revenue was down 3.5% on a year-over-year basis. As a group, equities analysts expect that E*TRADE Financial will post 4.16 earnings per share for the current year.

E*TRADE Financial announced that its board has approved a share buyback program on Thursday, July 18th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the financial services provider to buy up to 12.9% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 26th. Investors of record on Monday, August 19th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend is Friday, August 16th. E*TRADE Financial’s dividend payout ratio (DPR) is 14.40%.

In other E*TRADE Financial news, Director Rodger A. Lawson sold 41,322 shares of the business’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $48.13, for a total value of $1,988,827.86. Following the completion of the transaction, the director now directly owns 114,753 shares of the company’s stock, valued at $5,523,061.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.20% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. GSA Capital Partners LLP raised its stake in shares of E*TRADE Financial by 4.6% during the 2nd quarter. GSA Capital Partners LLP now owns 5,424 shares of the financial services provider’s stock worth $242,000 after buying an additional 237 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of E*TRADE Financial by 0.8% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 33,283 shares of the financial services provider’s stock worth $1,545,000 after buying an additional 259 shares during the period. ETF Managers Group LLC raised its stake in shares of E*TRADE Financial by 11.3% during the 1st quarter. ETF Managers Group LLC now owns 2,587 shares of the financial services provider’s stock worth $120,000 after buying an additional 262 shares during the period. FDx Advisors Inc. raised its stake in shares of E*TRADE Financial by 3.9% during the 2nd quarter. FDx Advisors Inc. now owns 7,032 shares of the financial services provider’s stock worth $314,000 after buying an additional 267 shares during the period. Finally, First Republic Investment Management Inc. raised its stake in shares of E*TRADE Financial by 2.6% during the 2nd quarter. First Republic Investment Management Inc. now owns 10,981 shares of the financial services provider’s stock worth $490,000 after buying an additional 277 shares during the period. 91.71% of the stock is owned by institutional investors.

E*TRADE Financial Company Profile

E*TRADE Financial Corporation, a financial services company, provides brokerage and related products and services for traders, investors, stock plan administrators and participants, and registered investment advisors (RIAs). It also offers investor-focused banking products, primarily sweep deposits to customers; clearing and settlement services; Federal Deposit Insurance Corporation insurance services; custody solutions to RIAs; other banking and cash management services; software and services for managing equity compensation plans to its corporate clients; retail futures transaction services; and investment advisory services.

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

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