E*TRADE Financial (NASDAQ:ETFC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm presently has a $56.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 12.49% from the company’s previous close.

According to Zacks, “Shares of E*TRADE have outperformed the industry so far, this year. The performance was supported by the company’s impressive earnings surprise history. It has surpassed the Zacks Consensus Estimate for earnings in all the trailing four quarters. E*TRADE’s several restructuring measures and balance-sheet growth plans keep us encouraged. We anticipate the company’s focus on core operations and strategic initiatives to lead to an improved performance of the top line. Further, the company’s improving credit quality and solid capital position will aid profitability. However, intense competition and stretched valuation remain near-term concerns for E*TRADE. Notably, the company has recorded rise in DARTs in first two months of the current quarter.”

Other analysts have also recently issued reports about the stock. Deutsche Bank increased their target price on shares of E*TRADE Financial from $48.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, October 25th. SunTrust Banks reissued a “buy” rating and set a $50.00 target price on shares of E*TRADE Financial in a report on Friday, October 20th. Bank of America raised shares of E*TRADE Financial from a “neutral” rating to a “buy” rating and increased their target price for the stock from $44.00 to $49.00 in a report on Monday, October 9th. Wells Fargo & Company increased their target price on shares of E*TRADE Financial from $49.00 to $51.00 and gave the stock an “outperform” rating in a report on Friday, October 20th. Finally, Credit Suisse Group initiated coverage on shares of E*TRADE Financial in a report on Thursday, November 30th. They set an “outperform” rating and a $56.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. E*TRADE Financial has an average rating of “Buy” and an average price target of $48.00.

Shares of E*TRADE Financial (ETFC) opened at $49.78 on Tuesday. The stock has a market cap of $13,367.56, a price-to-earnings ratio of 25.19, a P/E/G ratio of 1.76 and a beta of 1.45. The company has a quick ratio of 0.27, a current ratio of 0.27 and a debt-to-equity ratio of 0.26. E*TRADE Financial has a twelve month low of $32.25 and a twelve month high of $51.04.

E*TRADE Financial (NASDAQ:ETFC) last issued its earnings results on Thursday, October 19th. The financial services provider reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.04. The company had revenue of $599.00 million for the quarter, compared to analysts’ expectations of $598.96 million. E*TRADE Financial had a net margin of 27.35% and a return on equity of 9.34%. The firm’s revenue was up 23.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.51 earnings per share. equities analysts predict that E*TRADE Financial will post 2.26 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in ETFC. Quadrant Capital Group LLC grew its position in shares of E*TRADE Financial by 21.8% during the second quarter. Quadrant Capital Group LLC now owns 3,436 shares of the financial services provider’s stock worth $121,000 after acquiring an additional 614 shares during the last quarter. Advisors Asset Management Inc. grew its position in shares of E*TRADE Financial by 80.8% during the second quarter. Advisors Asset Management Inc. now owns 3,239 shares of the financial services provider’s stock worth $123,000 after acquiring an additional 1,448 shares during the last quarter. Valeo Financial Advisors LLC bought a new position in shares of E*TRADE Financial during the third quarter worth about $136,000. Krilogy Financial LLC grew its position in shares of E*TRADE Financial by 7.5% during the second quarter. Krilogy Financial LLC now owns 3,710 shares of the financial services provider’s stock worth $141,000 after acquiring an additional 260 shares during the last quarter. Finally, Financial Counselors Inc. bought a new position in shares of E*TRADE Financial during the second quarter worth about $203,000. Institutional investors and hedge funds own 94.14% of the company’s stock.

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About E*TRADE Financial

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 (NASDAQ:ETFC)

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