SunTrust Banks, Inc. restated their buy rating on shares of E*TRADE Financial Corporation (NASDAQ:ETFC) in a report published on Friday morning. The firm currently has a $50.00 target price on the financial services provider’s stock.

Several other analysts have also issued reports on ETFC. Barclays PLC boosted their price objective on shares of E*TRADE Financial Corporation from $49.00 to $50.00 and gave the company an overweight rating in a report on Friday. Wells Fargo & Company boosted their price target on shares of E*TRADE Financial Corporation from $49.00 to $51.00 and gave the stock an outperform rating in a research note on Friday. Keefe, Bruyette & Woods reiterated a hold rating and set a $43.00 price target on shares of E*TRADE Financial Corporation in a research note on Friday, July 14th. Rosenblatt Securities assumed coverage on shares of E*TRADE Financial Corporation in a research note on Thursday, July 13th. They set a buy rating and a $43.00 price target on the stock. Finally, Jefferies Group LLC reiterated a hold rating on shares of E*TRADE Financial Corporation in a research note on Monday, July 10th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $44.94.

E*TRADE Financial Corporation (ETFC) traded down 1.12% on Friday, hitting $43.20. 5,485,309 shares of the stock were exchanged. The stock’s 50 day moving average price is $42.48 and its 200 day moving average price is $38.66. The firm has a market cap of $11.90 billion, a PE ratio of 20.19 and a beta of 1.47. E*TRADE Financial Corporation has a 52-week low of $27.34 and a 52-week high of $45.70.

E*TRADE Financial Corporation (NASDAQ:ETFC) last issued its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. The firm had revenue of $599.00 million for the quarter, compared to analyst estimates of $598.96 million. E*TRADE Financial Corporation had a net margin of 27.35% and a return on equity of 9.41%. E*TRADE Financial Corporation’s revenue was up 23.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.51 EPS. Equities research analysts forecast that E*TRADE Financial Corporation will post $2.24 earnings per share for the current year.

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E*TRADE Financial Corporation declared that its Board of Directors has approved a share buyback program on Thursday, July 20th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the financial services provider to purchase up to 9.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

In other news, CEO Karl A. Roessner sold 14,898 shares of the business’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $39.41, for a total transaction of $587,130.18. Following the completion of the transaction, the chief executive officer now directly owns 232,702 shares of the company’s stock, valued at $9,170,785.82. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Karl A. Roessner sold 8,578 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $40.49, for a total value of $347,323.22. Following the transaction, the chief executive officer now directly owns 225,731 shares of the company’s stock, valued at $9,139,848.19. The disclosure for this sale can be found here. Over the last three months, insiders have sold 72,623 shares of company stock valued at $2,915,711. Corporate insiders own 0.17% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of E*TRADE Financial Corporation by 0.5% during the second quarter. Vanguard Group Inc. now owns 29,167,934 shares of the financial services provider’s stock worth $1,109,256,000 after buying an additional 157,269 shares in the last quarter. FMR LLC grew its position in shares of E*TRADE Financial Corporation by 24.3% during the second quarter. FMR LLC now owns 10,737,023 shares of the financial services provider’s stock worth $408,329,000 after buying an additional 2,096,445 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of E*TRADE Financial Corporation by 25.3% during the second quarter. Victory Capital Management Inc. now owns 7,845,331 shares of the financial services provider’s stock worth $298,357,000 after buying an additional 1,586,062 shares in the last quarter. TIAA CREF Investment Management LLC grew its position in shares of E*TRADE Financial Corporation by 3.4% during the second quarter. TIAA CREF Investment Management LLC now owns 5,053,621 shares of the financial services provider’s stock worth $192,189,000 after buying an additional 166,595 shares in the last quarter. Finally, Northern Trust Corp grew its position in shares of E*TRADE Financial Corporation by 29.1% during the second quarter. Northern Trust Corp now owns 4,599,263 shares of the financial services provider’s stock worth $174,911,000 after buying an additional 1,035,976 shares in the last quarter. 92.54% of the stock is owned by institutional investors and hedge funds.

About E*TRADE Financial Corporation

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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