E*TRADE Financial Corporation (NASDAQ:ETFC) Rating Reiterated by SunTrust Banks, Inc. – Dispatch Tribunal


E*TRADE Financial Corporation (NASDAQ:ETFC)‘s stock had its “buy” rating reissued by research analysts at SunTrust Banks, Inc. in a research note issued to investors on Friday, October 20th. They presently have a $50.00 target price on the financial services provider’s stock. SunTrust Banks, Inc.’s target price indicates a potential upside of 15.50% from the company’s current price.

A number of other equities analysts have also weighed in on the stock. Barclays PLC upped their target price on shares of E*TRADE Financial Corporation from $49.00 to $50.00 and gave the stock an “overweight” rating in a research report on Friday, October 20th. Wells Fargo & Company upped their target price on shares of E*TRADE Financial Corporation from $49.00 to $51.00 and gave the stock an “outperform” rating in a research report on Friday, October 20th. Zacks Investment Research upgraded shares of E*TRADE Financial Corporation from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Tuesday, October 10th. Bank of America Corporation upgraded shares of E*TRADE Financial Corporation from a “neutral” rating to a “buy” rating and upped their target price for the stock from $44.00 to $49.00 in a research report on Monday, October 9th. Finally, BidaskClub lowered shares of E*TRADE Financial Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $46.79.

E*TRADE Financial Corporation (NASDAQ:ETFC) traded down 0.80% during mid-day trading on Friday, hitting $43.29. The company had a trading volume of 1,829,047 shares. The company’s 50 day moving average price is $42.86 and its 200-day moving average price is $38.98. The firm has a market capitalization of $11.72 billion, a PE ratio of 20.32 and a beta of 1.47. E*TRADE Financial Corporation has a 12-month low of $27.33 and a 12-month high of $45.70.

E*TRADE Financial Corporation (NASDAQ:ETFC) last announced its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.04. E*TRADE Financial Corporation had a net margin of 27.35% and a return on equity of 9.34%. The firm had revenue of $599.00 million during the quarter, compared to analysts’ expectations of $598.96 million. During the same period in the prior year, the company posted $0.51 earnings per share. The company’s revenue for the quarter was up 23.3% compared to the same quarter last year. On average, analysts forecast that E*TRADE Financial Corporation will post $2.25 EPS for the current fiscal year.

E*TRADE Financial Corporation declared that its board has approved a stock buyback program on Thursday, July 20th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the financial services provider to reacquire up to 9.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

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In related news, insider Michael John Curcio sold 33,474 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $40.38, for a total value of $1,351,680.12. Following the transaction, the insider now owns 267,151 shares of the company’s stock, valued at approximately $10,787,557.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Karl A. Roessner sold 14,898 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $39.41, for a total transaction of $587,130.18. Following the completion of the transaction, the chief executive officer now directly owns 232,702 shares in the company, valued at approximately $9,170,785.82. The disclosure for this sale can be found here. Insiders sold a total of 66,927 shares of company stock worth $2,679,327 in the last ninety days. 0.17% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of ETFC. Principal Financial Group Inc. increased its stake in E*TRADE Financial Corporation by 3.8% in the 1st quarter. Principal Financial Group Inc. now owns 430,925 shares of the financial services provider’s stock worth $15,035,000 after buying an additional 15,917 shares during the period. Wellington Management Group LLP purchased a new position in E*TRADE Financial Corporation in the 1st quarter worth about $3,251,000. Teachers Advisors LLC increased its position in E*TRADE Financial Corporation by 23.0% during the 1st quarter. Teachers Advisors LLC now owns 1,524,018 shares of the financial services provider’s stock valued at $53,173,000 after purchasing an additional 284,578 shares during the period. Global X Management Co. LLC increased its position in E*TRADE Financial Corporation by 46.9% during the 1st quarter. Global X Management Co. LLC now owns 6,803 shares of the financial services provider’s stock valued at $237,000 after purchasing an additional 2,172 shares during the period. Finally, Marshall Wace North America L.P. purchased a new position in E*TRADE Financial Corporation during the 1st quarter valued at about $302,000. 92.62% of the stock is currently owned by institutional investors.

E*TRADE Financial Corporation Company Profile

E*Trade Financial Corporation is a financial services company. The Company provides online brokerage and related products and services primarily to individual retail investors under the brand E*TRADE Financial. The Company also provides investor-focused banking products, primarily sweep deposits, to retail investors.

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




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