E*TRADE Financial (NASDAQ:ETFC) Price Target Lowered to $43.00 at Deutsche Bank

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E*TRADE Financial (NASDAQ:ETFC) had its target price lowered by investment analysts at Deutsche Bank from $45.00 to $43.00 in a research report issued on Wednesday, BenzingaRatingsTable reports. The firm currently has a “hold” rating on the financial services provider’s stock. Deutsche Bank’s target price suggests a potential upside of 3.94% from the stock’s current price.

A number of other equities analysts also recently commented on ETFC. Credit Suisse Group set a $57.00 price objective on shares of E*TRADE Financial and gave the stock a “buy” rating in a report on Friday, July 19th. Zacks Investment Research downgraded shares of E*TRADE Financial from a “buy” rating to a “hold” rating in a report on Friday, May 24th. BidaskClub downgraded shares of E*TRADE Financial from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. Compass Point set a $52.00 price objective on shares of E*TRADE Financial and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Finally, Raymond James set a $57.00 price objective on shares of E*TRADE Financial and gave the stock a “buy” rating in a report on Friday, July 19th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $56.14.

Shares of NASDAQ:ETFC traded up $0.10 during midday trading on Wednesday, reaching $41.37. 315,376 shares of the company’s stock were exchanged, compared to its average volume of 2,622,075. The company’s 50 day simple moving average is $45.28 and its two-hundred day simple moving average is $47.11. The firm has a market capitalization of $10.05 billion, a PE ratio of 10.63, a price-to-earnings-growth ratio of 0.91 and a beta of 1.15. E*TRADE Financial has a 12 month low of $40.02 and a 12 month high of $60.07. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.27 and a current ratio of 0.27.

E*TRADE Financial (NASDAQ:ETFC) last released its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.02. The company had revenue of $685.00 million during the quarter, compared to the consensus estimate of $751.35 million. E*TRADE Financial had a net margin of 36.75% and a return on equity of 18.44%. The firm’s revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the firm earned $0.95 EPS. On average, research analysts anticipate that E*TRADE Financial will post 4.14 earnings per share for the current year.

E*TRADE Financial declared that its Board of Directors has initiated a stock repurchase plan on Thursday, July 18th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the financial services provider to buy up to 12.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Several hedge funds and other institutional investors have recently modified their holdings of ETFC. Nuveen Asset Management LLC boosted its stake in shares of E*TRADE Financial by 393.5% in the 2nd quarter. Nuveen Asset Management LLC now owns 4,260,920 shares of the financial services provider’s stock valued at $190,037,000 after purchasing an additional 3,397,462 shares during the last quarter. Victory Capital Management Inc. boosted its stake in 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 acquiring an additional 957,204 shares during the last quarter. Thompson Siegel & Walmsley LLC boosted its stake in 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 acquiring an additional 713,076 shares during the last quarter. Clearbridge Investments LLC boosted its stake in 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 acquiring an additional 707,611 shares during the last quarter. Finally, Boston Partners boosted its stake in E*TRADE Financial by 13.9% during the 1st quarter. Boston Partners now owns 4,660,073 shares of the financial services provider’s stock worth $216,367,000 after acquiring an additional 567,628 shares during the last quarter. 91.88% of the stock is currently 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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