E*TRADE Financial (NASDAQ:ETFC) PT Lowered to $48.00

E*TRADE Financial (NASDAQ:ETFC) had its price objective cut by Credit Suisse Group from $57.00 to $48.00 in a report published on Tuesday, BenzingaRatingsTable reports. They currently have an outperform rating on the financial services provider’s stock.

Other research analysts have also issued research reports about the stock. JMP Securities upped their price objective on shares of E*TRADE Financial to $63.00 and gave the company a market perform rating in a research note on Friday, July 19th. Deutsche Bank dropped their price objective on shares of E*TRADE Financial from $45.00 to $43.00 and set a hold rating on the stock in a research note on Wednesday, August 21st. Barclays upped their price objective on shares of E*TRADE Financial from $53.00 to $56.00 and gave the company an overweight rating in a research note on Friday, July 19th. Morgan Stanley upped their price objective on shares of E*TRADE Financial from $55.00 to $57.00 and gave the company an overweight rating in a research note on Wednesday, July 24th. Finally, Compass Point set a $52.00 price objective on shares of E*TRADE Financial and gave the company a buy rating in a research note on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. E*TRADE Financial presently has a consensus rating of Hold and a consensus target price of $50.96.

E*TRADE Financial stock opened at $36.40 on Tuesday. The firm has a market cap of $8.91 billion, a PE ratio of 9.36, a P/E/G ratio of 0.78 and a beta of 1.21. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.27 and a current ratio of 0.27. The firm’s 50 day moving average price is $42.18 and its two-hundred day moving average price is $45.88. E*TRADE Financial has a twelve month low of $34.68 and a twelve month high of $54.44.

E*TRADE Financial (NASDAQ:ETFC) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.02. The firm had revenue of $685.00 million for the quarter, compared to analyst estimates of $751.35 million. E*TRADE Financial had a net margin of 36.75% and a return on equity of 18.44%. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.95 EPS. Equities analysts anticipate that E*TRADE Financial will post 4.32 EPS for the current fiscal year.

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

In other E*TRADE Financial news, EVP Michael John Curcio sold 53,584 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $45.18, for a total value of $2,420,925.12. Following the completion of the sale, the executive vice president now directly owns 149,159 shares of the company’s stock, valued at $6,739,003.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rodger A. Lawson sold 5,109 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $45.18, for a total transaction of $230,824.62. Following the completion of the sale, the director now directly owns 113,739 shares of the company’s stock, valued at $5,138,728.02. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

A number of hedge funds have recently bought and sold shares of ETFC. Nuveen Asset Management LLC boosted its holdings in shares of E*TRADE Financial by 393.5% during the 2nd quarter. Nuveen Asset Management LLC now owns 4,260,920 shares of the financial services provider’s stock worth $190,037,000 after buying an additional 3,397,462 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of E*TRADE Financial by 20.0% during the 2nd quarter. Victory Capital Management Inc. now owns 5,752,931 shares of the financial services provider’s stock worth $256,581,000 after buying an additional 957,204 shares during the period. Thompson Siegel & Walmsley LLC boosted its holdings in shares of E*TRADE Financial by 95.7% during the 1st quarter. Thompson Siegel & Walmsley LLC now owns 1,458,267 shares of the financial services provider’s stock worth $67,708,000 after buying an additional 713,076 shares during the period. Clearbridge Investments LLC boosted its holdings in shares of E*TRADE Financial by 221,128.4% during the 1st quarter. Clearbridge Investments LLC now owns 707,931 shares of the financial services provider’s stock worth $32,869,000 after buying an additional 707,611 shares during the period. Finally, BlackRock Inc. boosted its holdings in shares of E*TRADE Financial by 2.4% during the 2nd quarter. BlackRock Inc. now owns 19,972,522 shares of the financial services provider’s stock worth $890,775,000 after buying an additional 469,538 shares during the period. 90.33% 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.

Further Reading: What are popular green investing opportunities?

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

Receive News & Ratings for E*TRADE Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for E*TRADE Financial and related companies with MarketBeat.com's FREE daily email newsletter.