E*TRADE Financial (ETFC) PT Raised to $61.00 at Morgan Stanley

E*TRADE Financial (NASDAQ:ETFC) had its target price lifted by research analysts at Morgan Stanley from $59.00 to $61.00 in a report released on Tuesday, May 7th, BenzingaRatingsTable reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Morgan Stanley’s target price suggests a potential upside of 36.16% from the company’s previous close.

A number of other brokerages also recently commented on ETFC. Zacks Investment Research raised shares of E*TRADE Financial from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a report on Wednesday, January 16th. BidaskClub raised shares of E*TRADE Financial from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. UBS Group downgraded shares of E*TRADE Financial from a “buy” rating to a “neutral” rating and lowered their price target for the company from $58.00 to $51.00 in a report on Wednesday, February 20th. ValuEngine raised shares of E*TRADE Financial from a “sell” rating to a “hold” rating in a report on Wednesday, January 16th. Finally, Barclays increased their price target on shares of E*TRADE Financial to $55.00 and gave the company an “overweight” rating in a report on Friday, January 25th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and eleven have issued a buy rating to the company’s stock. E*TRADE Financial has an average rating of “Buy” and an average target price of $59.58.

ETFC stock traded down $1.15 during trading on Tuesday, reaching $44.80. The company’s stock had a trading volume of 2,010,400 shares, compared to its average volume of 2,545,061. E*TRADE Financial has a 1 year low of $40.41 and a 1 year high of $66.46. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.24 and a current ratio of 0.24. The firm has a market capitalization of $11.24 billion, a PE ratio of 11.60, a PEG ratio of 0.97 and a beta of 1.16.

E*TRADE Financial (NASDAQ:ETFC) last issued its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.16. E*TRADE Financial had a return on equity of 18.06% and a net margin of 37.50%. The business had revenue of $755.00 million during the quarter, compared to analyst estimates of $738.04 million. During the same quarter in the prior year, the business posted $0.88 EPS. E*TRADE Financial’s revenue for the quarter was up 6.6% compared to the same quarter last year. On average, sell-side analysts forecast that E*TRADE Financial will post 4.35 EPS for the current fiscal year.

In other E*TRADE Financial news, Director Rodger A. Lawson sold 41,322 shares of the firm’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $48.13, for a total value of $1,988,827.86. Following the completion of the sale, the director now owns 114,753 shares of the company’s stock, valued at $5,523,061.89. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.20% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Clearbridge Investments LLC increased its holdings in E*TRADE Financial by 221,128.4% during the first quarter. Clearbridge Investments LLC now owns 707,931 shares of the financial services provider’s stock valued at $32,869,000 after buying an additional 707,611 shares during the period. Cerebellum GP LLC grew its holdings in E*TRADE Financial by 8.7% in the first quarter. Cerebellum GP LLC now owns 6,679 shares of the financial services provider’s stock worth $310,000 after purchasing an additional 536 shares during the last quarter. Allstate Corp grew its holdings in E*TRADE Financial by 3.1% in the first quarter. Allstate Corp now owns 17,289 shares of the financial services provider’s stock worth $803,000 after purchasing an additional 516 shares during the last quarter. Nordea Investment Management AB grew its holdings in E*TRADE Financial by 1.6% in the first quarter. Nordea Investment Management AB now owns 191,055 shares of the financial services provider’s stock worth $8,872,000 after purchasing an additional 3,022 shares during the last quarter. Finally, Cleararc Capital Inc. purchased a new position in E*TRADE Financial in the first quarter worth $277,000. 91.48% of the stock is owned by institutional investors and hedge funds.

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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