E-Trade Financial Corp. (NASDAQ:ETFC) – Investment analysts at SunTrust Banks reduced their FY2016 earnings per share estimates for E-Trade Financial Corp. in a report released on Friday. SunTrust Banks analyst D. Mewhirter now anticipates that the brokerage will earn $1.67 per share for the year, down from their prior estimate of $1.68. SunTrust Banks also issued estimates for E-Trade Financial Corp.’s Q2 2017 earnings at $0.44 EPS and Q3 2017 earnings at $0.46 EPS.

A number of other analysts have also recently commented on ETFC. Deutsche Bank AG upped their price target on shares of E-Trade Financial Corp. from $29.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, May 27th. Barclays PLC dropped their price target on shares of E-Trade Financial Corp. from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Thursday, July 7th. Jefferies Group dropped their price target on shares of E-Trade Financial Corp. from $27.00 to $25.50 and set a “hold” rating on the stock in a research note on Thursday, July 7th. Nomura dropped 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 research note on Monday, July 11th. Finally, Buckingham Research initiated coverage on shares of E-Trade Financial Corp. in a research note on Wednesday, July 13th. They set a “buy” rating and a $29.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $30.16.

Shares of E-Trade Financial Corp. (NASDAQ:ETFC) opened at 28.19 on Monday. The firm has a 50-day moving average of $26.08 and a 200-day moving average of $25.33. E-Trade Financial Corp. has a 12 month low of $19.61 and a 12 month high of $30.98. The firm has a market cap of $7.81 billion, a price-to-earnings ratio of 36.95 and a beta of 1.89.

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

Several large investors have recently made changes to their positions in the stock. Primecap Management Co. CA boosted its stake in shares of E-Trade Financial Corp. by 81.3% in the first quarter. Primecap Management Co. CA now owns 11,343,300 shares of the company’s stock worth $277,797,000 after buying an additional 5,087,900 shares during the period. Norges Bank acquired a new stake in shares of E-Trade Financial Corp. during the fourth quarter worth about $85,009,000. Adage Capital Partners GP L.L.C. boosted its stake 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 worth $61,760,000 after buying an additional 1,987,100 shares during the period. Southpoint Capital Advisors LP boosted its stake 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 worth $122,450,000 after buying an additional 1,550,000 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of E-Trade Financial Corp. by 1,391.9% in the second quarter. AQR Capital Management LLC now owns 1,301,786 shares of the company’s stock worth $30,579,000 after buying an additional 1,214,529 shares during the period. 91.48% of the stock is owned by institutional investors.

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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