Morgan Stanley reiterated their equal weight rating on shares of E*TRADE Financial Corporation (NASDAQ:ETFC) in a research report released on Tuesday. Morgan Stanley currently has a $43.00 price target on the financial services provider’s stock, up from their previous price target of $40.00.

ETFC has been the subject of several other research reports. Zacks Investment Research downgraded shares of E*TRADE Financial Corporation from a hold rating to a sell rating in a report on Monday, April 3rd. Instinet restated a buy rating and set a $47.00 target price (up from $44.00) on shares of E*TRADE Financial Corporation in a research report on Saturday, July 22nd. ValuEngine cut shares of E*TRADE Financial Corporation from a buy rating to a hold rating in a research report on Saturday, July 22nd. UBS AG restated a buy rating and set a $43.00 target price on shares of E*TRADE Financial Corporation in a research report on Thursday, May 25th. Finally, Deutsche Bank AG restated a buy rating and set a $40.00 target price (up from $39.00) on shares of E*TRADE Financial Corporation in a research report on Sunday, April 23rd. Six analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. E*TRADE Financial Corporation currently has an average rating of Buy and a consensus target price of $40.94.

E*TRADE Financial Corporation (NASDAQ:ETFC) traded up 0.74% during midday trading on Tuesday, reaching $41.02. The company had a trading volume of 1,517,826 shares. E*TRADE Financial Corporation has a 52 week low of $24.35 and a 52 week high of $42.19. The company has a market capitalization of $11.30 billion, a price-to-earnings ratio of 19.17 and a beta of 1.47. The firm has a 50-day moving average price of $38.59 and a 200-day moving average price of $36.16.

E*TRADE Financial Corporation (NASDAQ:ETFC) last issued its earnings results on Thursday, July 20th. The financial services provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.04. E*TRADE Financial Corporation had a net margin of 28.42% and a return on equity of 9.06%. The company had revenue of $577 million during the quarter, compared to the consensus estimate of $553.31 million. During the same quarter in the prior year, the firm posted $0.48 EPS. E*TRADE Financial Corporation’s quarterly revenue was up 21.7% compared to the same quarter last year. Analysts expect that E*TRADE Financial Corporation will post $2.26 EPS for the current fiscal year.

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E*TRADE Financial Corporation declared that its Board of Directors has initiated a stock buyback program on Thursday, July 20th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the financial services provider to reacquire up to 9.2% 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.

In other E*TRADE Financial Corporation news, Director James P. Healy bought 5,000 shares of E*TRADE Financial Corporation stock in a transaction that occurred on Tuesday, July 25th. The stock was purchased at an average price of $41.97 per share, with a total value of $209,850.00. Following the completion of the acquisition, the director now directly owns 40,792 shares in the company, valued at approximately $1,712,040.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brent Simonich sold 5,696 shares of the firm’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $41.50, for a total transaction of $236,384.00. Following the transaction, the insider now directly owns 31,557 shares of the company’s stock, valued at approximately $1,309,615.50. The disclosure for this sale can be found here. Company insiders own 0.17% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Exane Derivatives purchased a new position in E*TRADE Financial Corporation during the second quarter worth $130,000. Americafirst Capital Management LLC purchased a new position in E*TRADE Financial Corporation during the first quarter worth $152,000. Meeder Asset Management Inc. boosted its position in E*TRADE Financial Corporation by 163.9% in the second quarter. Meeder Asset Management Inc. now owns 5,656 shares of the financial services provider’s stock worth $215,000 after buying an additional 3,513 shares during the last quarter. Eagle Global Advisors LLC purchased a new position in E*TRADE Financial Corporation during the second quarter worth $221,000. Finally, Independent Portfolio Consultants Inc. boosted its position in E*TRADE Financial Corporation by 0.4% in the second quarter. Independent Portfolio Consultants Inc. now owns 6,021 shares of the financial services provider’s stock worth $229,000 after buying an additional 26 shares during the last quarter. 92.54% of the stock is owned by hedge funds and other institutional investors.

E*TRADE Financial Corporation Company Profile

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

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

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