Shares of E*TRADE Financial Corporation (NASDAQ:ETFC) have received an average rating of “Buy” from the twenty-two analysts that are presently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $40.82.

ETFC has been the topic of a number of research reports. Deutsche Bank AG reissued a “buy” rating and issued a $40.00 target price (up from $39.00) on shares of E*TRADE Financial Corporation in a research note on Sunday, April 23rd. Morgan Stanley reissued an “equal weight” rating and issued a $40.00 target price (up from $38.00) on shares of E*TRADE Financial Corporation in a research note on Monday, July 10th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $41.00 target price on shares of E*TRADE Financial Corporation in a research note on Friday, April 21st. SunTrust Banks, Inc. raised their target price on shares of E*TRADE Financial Corporation from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday, June 16th. Finally, Zacks Investment Research raised shares of E*TRADE Financial Corporation from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research note on Wednesday, June 21st.

Shares of E*TRADE Financial Corporation (NASDAQ ETFC) opened at 40.15 on Friday. The firm’s 50-day moving average price is $39.58 and its 200 day moving average price is $36.45. E*TRADE Financial Corporation has a 52 week low of $24.85 and a 52 week high of $42.19. The company has a market capitalization of $11.06 billion, a PE ratio of 18.76 and a beta of 1.48.

E*TRADE Financial Corporation (NASDAQ:ETFC) last released its earnings results on Thursday, July 20th. The financial services provider reported $0.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.04. E*TRADE Financial Corporation had a net margin of 28.42% and a return on equity of 9.06%. The business had revenue of $577 million for the quarter, compared to analyst estimates of $553.31 million. During the same period last year, the company posted $0.48 EPS. The business’s revenue was up 21.7% on a year-over-year basis. Equities analysts predict that E*TRADE Financial Corporation will post $2.26 EPS for the current year.

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

In other news, insider Brent Simonich sold 5,696 shares of E*TRADE Financial Corporation stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $41.50, for a total transaction of $236,384.00. Following the completion of the sale, the insider now directly owns 31,557 shares of the company’s stock, valued at approximately $1,309,615.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director James P. Healy acquired 5,000 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The shares were purchased at an average cost of $41.97 per share, with a total value of $209,850.00. Following the completion of the transaction, the director now owns 40,792 shares in the company, valued at approximately $1,712,040.24. The disclosure for this purchase can be found here. Insiders own 0.17% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Glen Harbor Capital Management LLC boosted its stake in shares of E*TRADE Financial Corporation by 1.5% in the first quarter. Glen Harbor Capital Management LLC now owns 187,472 shares of the financial services provider’s stock worth $6,541,000 after buying an additional 2,832 shares during the period. First Citizens Bank & Trust Co. acquired a new stake in shares of E*TRADE Financial Corporation during the first quarter worth approximately $2,258,000. ProShare Advisors LLC boosted its stake in shares of E*TRADE Financial Corporation by 58.6% in the first quarter. ProShare Advisors LLC now owns 110,326 shares of the financial services provider’s stock worth $3,849,000 after buying an additional 40,774 shares during the last quarter. Profund Advisors LLC boosted its stake in shares of E*TRADE Financial Corporation by 13.7% in the first quarter. Profund Advisors LLC now owns 64,125 shares of the financial services provider’s stock worth $2,237,000 after buying an additional 7,717 shares during the last quarter. Finally, Korea Investment CORP boosted its stake in shares of E*TRADE Financial Corporation by 9,636.8% in the first quarter. Korea Investment CORP now owns 31,450 shares of the financial services provider’s stock worth $1,097,000 after buying an additional 31,127 shares during the last quarter. 93.19% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: “E*TRADE Financial Corporation (ETFC) Given Average Rating of “Buy” by Brokerages” was originally reported by Daily Political and is owned by of Daily Political. If you are viewing this news story on another site, it was copied illegally and republished in violation of international trademark & copyright laws. The legal version of this news story can be read at https://www.dailypolitical.com/2017/08/11/etrade-financial-corporation-etfc-given-average-rating-of-buy-by-brokerages.html.

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)

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