E*TRADE Financial Corp (NASDAQ:ETFC) Given Average Rating of “Hold” by Brokerages

E*TRADE Financial Corp (NASDAQ:ETFC) has been given an average recommendation of “Hold” by the fifteen brokerages that are currently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, thirteen have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $47.83.

ETFC has been the topic of a number of recent analyst reports. BidaskClub lowered E*TRADE Financial from a “hold” rating to a “sell” rating in a research report on Thursday, August 20th. Wells Fargo & Company upped their price target on E*TRADE Financial from $39.00 to $50.00 and gave the company an “equal weight” rating in a research note on Friday, July 10th. Zacks Investment Research downgraded E*TRADE Financial from a “buy” rating to a “hold” rating and set a $55.00 price objective for the company. in a research report on Wednesday, July 15th. Compass Point increased their target price on shares of E*TRADE Financial from $41.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday, July 2nd. Finally, ValuEngine upgraded shares of E*TRADE Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, September 1st.

In related news, insider Michael Jos. Murphy sold 10,000 shares of the business’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $52.72, for a total transaction of $527,200.00. Following the completion of the transaction, the insider now owns 34,367 shares in the company, valued at $1,811,828.24. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.25% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Nissay Asset Management Corp Japan ADV increased its stake in E*TRADE Financial by 8.1% in the second quarter. Nissay Asset Management Corp Japan ADV now owns 21,475 shares of the financial services provider’s stock valued at $1,068,000 after purchasing an additional 1,606 shares during the last quarter. Advisor Group Holdings Inc. purchased a new stake in E*TRADE Financial in the first quarter valued at $963,000. Mn Services Vermogensbeheer B.V. purchased a new stake in E*TRADE Financial in the second quarter valued at $9,374,000. Strs Ohio boosted its stake in E*TRADE Financial by 29.9% in the second quarter. Strs Ohio now owns 108,297 shares of the financial services provider’s stock valued at $5,385,000 after acquiring an additional 24,940 shares in the last quarter. Finally, State of Michigan Retirement System grew its holdings in shares of E*TRADE Financial by 9.0% during the second quarter. State of Michigan Retirement System now owns 56,439 shares of the financial services provider’s stock worth $2,807,000 after purchasing an additional 4,681 shares during the last quarter. 86.30% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:ETFC traded up $0.83 during trading hours on Wednesday, hitting $53.01. The company had a trading volume of 1,864,444 shares, compared to its average volume of 3,739,279. E*TRADE Financial has a 1 year low of $25.76 and a 1 year high of $57.30. The company has a market cap of $11.72 billion, a P/E ratio of 15.41 and a beta of 1.24. The company has a 50-day moving average of $53.09 and a 200 day moving average of $45.66. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.23.

E*TRADE Financial (NASDAQ:ETFC) last announced its quarterly earnings data on Thursday, July 23rd. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.12. E*TRADE Financial had a net margin of 28.69% and a return on equity of 14.59%. The firm had revenue of $716.00 million during the quarter, compared to analyst estimates of $678.03 million. On average, analysts forecast that E*TRADE Financial will post 3.11 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Wednesday, August 19th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 1.06%. The ex-dividend date was Tuesday, August 18th. E*TRADE Financial’s dividend payout ratio (DPR) is presently 13.90%.

About E*TRADE Financial

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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