Bank of America Corp. reissued their buy rating on shares of E-Trade Financial Corp. (NASDAQ:ETFC) in a research report report published on Tuesday morning. Bank of America Corp. currently has a $28.00 target price on the stock.

A number of other equities research analysts have also recently commented on the stock. Barclays PLC set a $30.00 price target on shares of E-Trade Financial Corp. and gave the stock a buy rating in a report on Tuesday, August 9th. Nomura reaffirmed a buy rating and issued a $32.00 price target on shares of E-Trade Financial Corp. in a report on Wednesday, August 3rd. Goldman Sachs Group Inc. cut shares of E-Trade Financial Corp. from a buy rating to a neutral rating and set a $26.00 price target on the stock. in a report on Friday, July 22nd. Compass Point lowered their price target on shares of E-Trade Financial Corp. from $31.00 to $30.00 and set a buy rating on the stock in a report on Friday, July 22nd. Finally, Deutsche Bank AG lifted their price target on shares of E-Trade Financial Corp. from $26.00 to $28.00 and gave the stock a buy rating in a report on Monday, July 18th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. E-Trade Financial Corp. presently has an average rating of Buy and a consensus price target of $29.97.

Shares of E-Trade Financial Corp. (NASDAQ:ETFC) opened at 28.13 on Tuesday. The firm has a 50 day moving average price of $25.70 and a 200-day moving average price of $25.23. The firm has a market cap of $7.79 billion, a P/E ratio of 36.87 and a beta of 1.89. E-Trade Financial Corp. has a one year low of $19.61 and a one year high of $30.98.

E-Trade Financial Corp. (NASDAQ:ETFC) last announced its earnings results on Thursday, July 21st. The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.10. E-Trade Financial Corp. had a return on equity of 7.64% and a net margin of 15.07%. The firm had revenue of $474 million for the quarter, compared to the consensus estimate of $472.50 million. Analysts forecast that E-Trade Financial Corp. will post $1.69 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in ETFC. Pennant Capital Management LLC raised its position in shares of E-Trade Financial Corp. by 58.8% in the first quarter. Pennant Capital Management LLC now owns 2,955,992 shares of the company’s stock valued at $72,392,000 after buying an additional 1,095,000 shares during the period. Southpoint Capital Advisors LP raised its position in shares of E-Trade Financial Corp. by 44.9% in the first quarter. Southpoint Capital Advisors LP now owns 5,000,000 shares of the company’s stock valued at $122,450,000 after buying an additional 1,550,000 shares during the period. Adage Capital Partners GP L.L.C. raised its position in shares of E-Trade Financial Corp. by 371.6% in the first quarter. Adage Capital Partners GP L.L.C. now owns 2,521,862 shares of the company’s stock valued at $61,760,000 after buying an additional 1,987,100 shares during the period. Royal Bank of Canada raised its position in shares of E-Trade Financial Corp. by 17.8% in the first quarter. Royal Bank of Canada now owns 859,249 shares of the company’s stock valued at $21,044,000 after buying an additional 129,580 shares during the period. Finally, Prudential Financial Inc. raised its position in shares of E-Trade Financial Corp. by 90.3% in the first quarter. Prudential Financial Inc. now owns 692,611 shares of the company’s stock valued at $16,962,000 after buying an additional 328,720 shares during the period. Institutional investors own 91.47% of the company’s stock.

About E-Trade Financial Corp.

E*Trade Financial Corporation is a financial services company. The Company provides 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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