E*TRADE Financial Corporation (ETFC) PT Raised to $49.00 at Barclays PLC

E*TRADE Financial Corporation (NASDAQ:ETFC) had its target price boosted by Barclays PLC from $45.00 to $49.00 in a research note issued to investors on Tuesday. The firm currently has an “overweight” rating on the financial services provider’s stock. Barclays PLC’s target price points to a potential upside of 10.29% from the company’s previous close.

A number of other equities research analysts also recently commented on ETFC. Wells Fargo & Company reissued an “outperform” rating and issued a $41.00 price objective (up from $40.00) on shares of E*TRADE Financial Corporation in a research report on Monday, June 12th. BidaskClub raised shares of E*TRADE Financial Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 13th. SunTrust Banks, Inc. increased their price objective on shares of E*TRADE Financial Corporation from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Friday, June 16th. Deutsche Bank AG dropped their price objective on shares of E*TRADE Financial Corporation from $40.00 to $39.00 and set a “buy” rating on the stock in a research report on Tuesday, July 4th. Finally, Jefferies Group LLC reissued a “hold” rating on shares of E*TRADE Financial Corporation in a research report on Monday, July 10th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $43.87.

Shares of E*TRADE Financial Corporation (ETFC) traded down 0.74% during trading on Tuesday, reaching $44.10. 1,261,070 shares of the company traded hands. The firm’s 50 day moving average price is $41.67 and its 200-day moving average price is $38.10. E*TRADE Financial Corporation has a 52 week low of $27.33 and a 52 week high of $45.70. The company has a market capitalization of $12.15 billion, a price-to-earnings ratio of 20.61 and a beta of 1.47.

E*TRADE Financial Corporation (NASDAQ:ETFC) last announced its earnings results on Thursday, July 20th. The financial services provider reported $0.52 earnings per share for the quarter, topping the 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 firm had revenue of $577.00 million for the quarter, compared to the consensus estimate of $553.31 million. During the same period in the prior year, the firm earned $0.48 EPS. The firm’s revenue for the quarter was up 21.7% on a year-over-year basis. Equities analysts anticipate that E*TRADE Financial Corporation will post $2.24 EPS for the current fiscal year.

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

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In related news, insider Brent Simonich sold 5,696 shares of the 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 owns 31,557 shares in the company, valued at approximately $1,309,615.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michael John Curcio sold 33,474 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $40.38, for a total transaction of $1,351,680.12. Following the sale, the insider now owns 267,151 shares of the company’s stock, valued at approximately $10,787,557.38. The disclosure for this sale can be found here. In the last quarter, insiders have sold 72,623 shares of company stock valued at $2,915,711. 0.17% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the stock. Independent Portfolio Consultants Inc. boosted its stake in E*TRADE Financial Corporation by 0.4% during the 2nd quarter. Independent Portfolio Consultants Inc. now owns 6,021 shares of the financial services provider’s stock worth $229,000 after purchasing an additional 26 shares during the period. ING Groep NV boosted its stake in E*TRADE Financial Corporation by 0.4% during the 2nd quarter. ING Groep NV now owns 14,056 shares of the financial services provider’s stock worth $535,000 after purchasing an additional 51 shares during the period. Wedge Capital Management L L P NC boosted its stake in E*TRADE Financial Corporation by 0.3% during the 2nd quarter. Wedge Capital Management L L P NC now owns 23,923 shares of the financial services provider’s stock worth $910,000 after purchasing an additional 62 shares during the period. Mackenzie Financial Corp boosted its stake in E*TRADE Financial Corporation by 0.3% during the 1st quarter. Mackenzie Financial Corp now owns 33,335 shares of the financial services provider’s stock worth $1,163,000 after purchasing an additional 88 shares during the period. Finally, Sentry Investment Management LLC boosted its stake in E*TRADE Financial Corporation by 0.6% during the 2nd quarter. Sentry Investment Management LLC now owns 17,179 shares of the financial services provider’s stock worth $653,000 after purchasing an additional 95 shares during the period. Hedge funds and other institutional investors own 92.64% of the company’s stock.

About E*TRADE Financial Corporation

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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