Trade Report: The E-Trade Financial Corp. (ETFC) Given New $31.00 Price Target at Jefferies Group

The E-Trade Financial Corp. (ETFC) Given New $31.00 Price Target at Jefferies Group

E-Trade Financial Corp. (NASDAQ:ETFC) had its target price hoisted by Jefferies Group from $28.00 to $31.00 in a research note published on Tuesday morning. They currently have a hold rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Barclays PLC reduced their price objective on shares of E-Trade Financial Corp. from $32.00 to $28.00 and set an overweight rating for the company in a research note on Thursday, July 7th. Buckingham Research started 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 objective for the company. Credit Agricole SA boosted their price objective on shares of E-Trade Financial Corp. from $29.00 to $33.00 and gave the company an outperform rating in a research note on Thursday, September 22nd. Nomura reaffirmed a buy rating and set a $32.00 price objective (up previously from $30.00) on shares of E-Trade Financial Corp. in a research note on Monday, July 25th. Finally, Deutsche Bank AG reaffirmed a buy rating and set a $29.00 price objective (down previously from $31.00) on shares of E-Trade Financial Corp. in a research note on Tuesday, June 14th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $30.65.

E-Trade Financial Corp. (NASDAQ:ETFC) traded down 0.294% during mid-day trading on Tuesday, reaching $28.845. 652,288 shares of the company’s stock were exchanged. E-Trade Financial Corp. has a 52-week low of $19.61 and a 52-week high of $30.98. The company has a 50-day moving average of $27.59 and a 200-day moving average of $25.76. The stock has a market cap of $7.99 billion, a price-to-earnings ratio of 37.805 and a beta of 1.70.

E-Trade Financial Corp. (NASDAQ:ETFC) last posted its earnings results on Thursday, July 21st. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.10. The firm earned $474 million during the quarter, compared to the consensus estimate of $472.50 million. E-Trade Financial Corp. had a net margin of 15.07% and a return on equity of 7.64%. Equities research analysts anticipate that E-Trade Financial Corp. will post $1.70 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Aperio Group LLC increased its position in shares of E-Trade Financial Corp. by 39.8% in the first quarter. Aperio Group LLC now owns 133,798 shares of the company’s stock valued at $3,277,000 after buying an additional 38,084 shares during the last quarter. Ngam Advisors L.P. increased its position in shares of E-Trade Financial Corp. by 25.7% in the first quarter. Ngam Advisors L.P. now owns 135,078 shares of the company’s stock valued at $3,308,000 after buying an additional 27,648 shares during the last quarter. Prudential Financial Inc. increased 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 last quarter. BlackRock Group LTD increased its position in shares of E-Trade Financial Corp. by 38.4% in the first quarter. BlackRock Group LTD now owns 2,075,861 shares of the company’s stock valued at $50,837,000 after buying an additional 575,984 shares during the last quarter. Finally, Aviva PLC purchased a new position in shares of E-Trade Financial Corp. during the first quarter valued at approximately $3,660,000. 91.48% of the stock is currently owned by institutional investors.

About E-Trade Financial Corp.

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