E*TRADE Financial (NASDAQ:ETFC) Upgraded to Hold by BidaskClub

BidaskClub upgraded shares of E*TRADE Financial (NASDAQ:ETFC) from a sell rating to a hold rating in a report released on Tuesday morning, BidAskClub reports.

Several other brokerages have also recently issued reports on ETFC. UBS Group raised their price objective on E*TRADE Financial from $41.00 to $43.00 and gave the stock a neutral rating in a research note on Friday, April 24th. Credit Suisse Group reduced their price target on E*TRADE Financial from $43.00 to $40.00 and set a neutral rating for the company in a research report on Thursday, April 16th. Wells Fargo & Co lifted their price target on E*TRADE Financial from $35.00 to $39.00 in a research report on Monday, April 27th. Zacks Investment Research cut E*TRADE Financial from a hold rating to a sell rating and set a $54.00 price target for the company. in a research report on Tuesday, June 9th. Finally, Deutsche Bank lifted their price target on E*TRADE Financial from $35.00 to $39.00 and gave the company a hold rating in a research report on Thursday, April 9th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has given a buy rating to the company’s stock. E*TRADE Financial has a consensus rating of Hold and a consensus target price of $45.11.

Shares of NASDAQ:ETFC opened at $49.73 on Tuesday. E*TRADE Financial has a 52-week low of $25.76 and a 52-week high of $57.30. The stock has a market cap of $10.73 billion, a price-to-earnings ratio of 14.37 and a beta of 1.25. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.24. The business has a 50-day moving average price of $45.92 and a 200-day moving average price of $43.04.

E*TRADE Financial (NASDAQ:ETFC) last announced its quarterly earnings data on Thursday, April 23rd. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.18). E*TRADE Financial had a return on equity of 15.84% and a net margin of 29.81%. The firm had revenue of $707.00 million during the quarter, compared to analysts’ expectations of $721.59 million. During the same quarter in the previous year, the business earned $1.09 earnings per share. The company’s revenue for the quarter was down 6.4% compared to the same quarter last year. As a group, equities analysts anticipate that E*TRADE Financial will post 2.81 EPS for the current fiscal year.

Several large investors have recently modified their holdings of the company. Private Capital Group LLC boosted its stake in shares of E*TRADE Financial by 34.1% in the first quarter. Private Capital Group LLC now owns 1,259 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 320 shares during the last quarter. Mutual of America Capital Management LLC boosted its stake in shares of E*TRADE Financial by 1.1% in the first quarter. Mutual of America Capital Management LLC now owns 30,837 shares of the financial services provider’s stock worth $1,058,000 after acquiring an additional 326 shares during the last quarter. Cigna Investments Inc. New boosted its stake in shares of E*TRADE Financial by 6.7% in the first quarter. Cigna Investments Inc. New now owns 6,333 shares of the financial services provider’s stock worth $217,000 after acquiring an additional 400 shares during the last quarter. SRB Corp boosted its stake in shares of E*TRADE Financial by 4.6% in the fourth quarter. SRB Corp now owns 11,471 shares of the financial services provider’s stock worth $520,000 after acquiring an additional 501 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of E*TRADE Financial by 1.0% in the fourth quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 56,511 shares of the financial services provider’s stock worth $2,564,000 after acquiring an additional 547 shares during the last quarter. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

About E*TRADE Financial

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.

Further Reading: What does a hold rating mean?

Analyst Recommendations for E*TRADE Financial (NASDAQ:ETFC)

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