E*TRADE Financial’s (ETFC) “Outperform” Rating Reiterated at Wells Fargo & Co

Wells Fargo & Co reissued their outperform rating on shares of E*TRADE Financial (NASDAQ:ETFC) in a report published on Thursday morning, The Fly reports. They currently have a $60.00 price objective on the financial services provider’s stock, up from their prior price objective of $51.00.

Several other analysts also recently weighed in on the stock. Barclays initiated coverage on shares of E*TRADE Financial in a research report on Friday, September 8th. They issued an overweight rating and a $45.00 price objective on the stock. Deutsche Bank lifted their price objective on shares of E*TRADE Financial from $48.00 to $49.00 and gave the company a buy rating in a research report on Wednesday, October 25th. Bank of America upgraded shares of E*TRADE Financial from a neutral rating to a buy rating and lifted their price objective for the company from $44.00 to $49.00 in a research report on Monday, October 9th. Credit Suisse Group initiated coverage on shares of E*TRADE Financial in a research report on Thursday, November 30th. They issued an outperform rating and a $56.00 price objective on the stock. Finally, SunTrust Banks reiterated a buy rating and issued a $50.00 price objective on shares of E*TRADE Financial in a research report on Friday, October 20th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $48.60.

E*TRADE Financial (NASDAQ ETFC) opened at $51.47 on Thursday. E*TRADE Financial has a fifty-two week low of $32.25 and a fifty-two week high of $52.19. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.27 and a quick ratio of 0.27. The company has a market cap of $13,793.67, a PE ratio of 24.16, a PEG ratio of 1.16 and a beta of 1.46.

E*TRADE Financial (NASDAQ:ETFC) last posted its quarterly earnings results on Thursday, October 19th. The financial services provider reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.04. E*TRADE Financial had a net margin of 27.35% and a return on equity of 9.34%. The business had revenue of $599.00 million during the quarter, compared to analyst estimates of $598.96 million. During the same period in the previous year, the business posted $0.51 EPS. The company’s quarterly revenue was up 23.3% on a year-over-year basis. analysts anticipate that E*TRADE Financial will post 2.27 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the business. Valeo Financial Advisors LLC bought a new stake in shares of E*TRADE Financial during the 3rd quarter worth about $136,000. Advisors Asset Management Inc. raised its position in shares of E*TRADE Financial by 80.8% during the 2nd quarter. Advisors Asset Management Inc. now owns 3,239 shares of the financial services provider’s stock worth $123,000 after buying an additional 1,448 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of E*TRADE Financial by 21.8% during the 2nd quarter. Quadrant Capital Group LLC now owns 3,436 shares of the financial services provider’s stock worth $121,000 after buying an additional 614 shares in the last quarter. Krilogy Financial LLC raised its position in shares of E*TRADE Financial by 7.5% during the 2nd quarter. Krilogy Financial LLC now owns 3,710 shares of the financial services provider’s stock worth $141,000 after buying an additional 260 shares in the last quarter. Finally, Visionary Asset Management Inc. bought a new stake in shares of E*TRADE Financial during the 3rd quarter worth about $209,000. Institutional investors own 94.14% of the company’s stock.

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About E*TRADE Financial

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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