Keefe, Bruyette & Woods lowered shares of E*TRADE Financial (NASDAQ:ETFC) from an outperform rating to a market perform rating in a research note published on Monday morning, Briefing.com Automated Import reports. They currently have $45.50 price objective on the financial services provider’s stock, down from their prior price objective of $55.00.

Several other research firms also recently commented on ETFC. Deutsche Bank lowered their price objective on shares of E*TRADE Financial from $45.00 to $43.00 and set a hold rating for the company in a research note on Wednesday, August 21st. Barclays lifted their price objective on shares of E*TRADE Financial from $53.00 to $56.00 and gave the stock an overweight rating in a research note on Friday, July 19th. Morgan Stanley lifted their price objective on shares of E*TRADE Financial from $55.00 to $57.00 and gave the stock an overweight rating in a research note on Wednesday, July 24th. Raymond James set a $57.00 price objective on shares of E*TRADE Financial and gave the stock a buy rating in a research note on Friday, July 19th. Finally, Zacks Investment Research downgraded shares of E*TRADE Financial from a buy rating to a hold rating in a research note on Friday, May 24th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $55.46.

NASDAQ:ETFC opened at $44.63 on Monday. E*TRADE Financial has a 12 month low of $39.31 and a 12 month high of $56.44. The firm has a fifty day simple moving average of $43.37 and a 200-day simple moving average of $46.51. The company has a current ratio of 0.27, a quick ratio of 0.27 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $10.70 billion, a P/E ratio of 11.47, a PEG ratio of 0.93 and a beta of 1.20.

E*TRADE Financial (NASDAQ:ETFC) last posted its quarterly earnings data on Thursday, July 18th. The financial services provider reported $1.12 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.02. E*TRADE Financial had a net margin of 36.75% and a return on equity of 18.44%. The business had revenue of $685.00 million during the quarter, compared to the consensus estimate of $751.35 million. During the same period in the previous year, the firm posted $0.95 earnings per share. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year. Equities analysts forecast that E*TRADE Financial will post 4.31 EPS for the current year.

E*TRADE Financial declared that its Board of Directors has initiated a stock buyback program on Thursday, July 18th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 12.9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

The firm also recently announced a quarterly dividend, which was paid on Monday, August 26th. Investors of record on Monday, August 19th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.56 annualized dividend and a dividend yield of 1.25%. E*TRADE Financial’s dividend payout ratio (DPR) is presently 14.40%.

Several institutional investors have recently modified their holdings of ETFC. Kavar Capital Partners LLC purchased a new position in shares of E*TRADE Financial during the second quarter worth $31,000. Gemmer Asset Management LLC purchased a new position in E*TRADE Financial in the second quarter valued at $42,000. FNY Investment Advisers LLC increased its holdings in E*TRADE Financial by 100.0% in the second quarter. FNY Investment Advisers LLC now owns 1,000 shares of the financial services provider’s stock valued at $44,000 after buying an additional 500 shares in the last quarter. Ossiam purchased a new position in E*TRADE Financial in the second quarter valued at $44,000. Finally, Amica Retiree Medical Trust purchased a new position in E*TRADE Financial in the second quarter valued at $46,000. 90.33% of the stock is owned by hedge funds and other institutional investors.

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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