E*TRADE Financial Corporation’s (ETFC) “Hold” Rating Reiterated at Jefferies Group LLC

Jefferies Group LLC reissued their hold rating on shares of E*TRADE Financial Corporation (NASDAQ:ETFC) in a research note released on Saturday, July 22nd. Jefferies Group LLC currently has a $43.00 price objective on the financial services provider’s stock, up from their prior price objective of $39.00. Jefferies Group also issued estimates for E*TRADE Financial Corporation’s Q3 2017 earnings at $0.50 EPS, Q4 2017 earnings at $0.58 EPS, FY2017 earnings at $2.25 EPS and FY2018 earnings at $2.45 EPS.

ETFC has been the subject of a number of other reports. UBS AG reissued a buy rating and issued a $43.00 price target on shares of E*TRADE Financial Corporation in a report on Thursday, May 25th. Keefe, Bruyette & Woods reissued a hold rating and issued a $43.00 price target on shares of E*TRADE Financial Corporation in a report on Friday, July 14th. Rosenblatt Securities initiated coverage on shares of E*TRADE Financial Corporation in a report on Thursday, July 13th. They issued a buy rating and a $43.00 price target for the company. Zacks Investment Research downgraded shares of E*TRADE Financial Corporation from a hold rating to a sell rating in a report on Monday, April 10th. Finally, BidaskClub raised shares of E*TRADE Financial Corporation from a buy rating to a strong-buy rating in a report on Tuesday, June 13th. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $40.94.

Shares of E*TRADE Financial Corporation (NASDAQ:ETFC) traded up 0.28% during trading on Friday, hitting $39.72. The stock had a trading volume of 3,053,133 shares. The stock’s 50-day moving average is $40.11 and its 200-day moving average is $36.57. The stock has a market cap of $10.94 billion, a price-to-earnings ratio of 18.56 and a beta of 1.48. E*TRADE Financial Corporation has a 12-month low of $24.96 and a 12-month high of $42.19.

E*TRADE Financial Corporation (NASDAQ:ETFC) last posted its earnings results on Thursday, July 20th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business posted $0.48 EPS. E*TRADE Financial Corporation’s revenue was up 21.7% compared to the same quarter last year. On average, equities research analysts expect that E*TRADE Financial Corporation will post $2.25 EPS for the current year.

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E*TRADE Financial Corporation announced that its board has authorized a stock repurchase plan on Thursday, July 20th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the financial services provider to reacquire up to 9.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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

Large investors have recently modified their holdings of the company. Advisors Asset Management Inc. boosted its stake in shares of E*TRADE Financial Corporation by 80.8% in the second quarter. Advisors Asset Management Inc. now owns 3,239 shares of the financial services provider’s stock valued at $123,000 after buying an additional 1,448 shares in the last quarter. Exane Derivatives acquired a new stake in shares of E*TRADE Financial Corporation during the second quarter valued at approximately $130,000. Quadrant Capital Group LLC boosted its stake in shares of E*TRADE Financial Corporation by 21.8% in the second quarter. Quadrant Capital Group LLC now owns 3,436 shares of the financial services provider’s stock valued at $121,000 after buying an additional 614 shares in the last quarter. Krilogy Financial LLC boosted its stake in shares of E*TRADE Financial Corporation by 7.5% in the second quarter. Krilogy Financial LLC now owns 3,710 shares of the financial services provider’s stock valued at $141,000 after buying an additional 260 shares in the last quarter. Finally, Americafirst Capital Management LLC acquired a new stake in shares of E*TRADE Financial Corporation during the first quarter valued at approximately $152,000. Institutional investors own 94.35% of the company’s stock.

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.

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