Today, E-Trade Financial Corp. (ETFC) Price Target Raised to $34.00 at SunTrust Banks Inc.

Today, E-Trade Financial Corp. (ETFC) Price Target Raised to $34.00 at SunTrust Banks Inc.

E-Trade Financial Corp. (NASDAQ:ETFC) had its price objective lifted by equities research analysts at SunTrust Banks Inc. from $31.00 to $34.00 in a research note issued on Tuesday. The brokerage currently has a “hold” rating on the stock. SunTrust Banks Inc.’s price objective would suggest a potential downside of 0.15% from the company’s current price.

Several other equities analysts also recently commented on ETFC. Nomura restated a “buy” rating and issued a $32.00 price target on shares of E-Trade Financial Corp. in a research note on Wednesday, August 3rd. Barclays PLC set a $30.00 price target on shares of E-Trade Financial Corp. and gave the company a “buy” rating in a research note on Tuesday, August 9th. Bank of America Corp. restated a “buy” rating and issued a $28.00 price target on shares of E-Trade Financial Corp. in a research note on Tuesday, September 13th. restated an “outperform” rating and issued a $29.00 price target on shares of E-Trade Financial Corp. in a research note on Friday, September 16th. Finally, Credit Suisse Group AG started coverage on shares of E-Trade Financial Corp. in a research note on Wednesday, September 21st. They issued an “outperform” rating and a $33.00 price target on the stock. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $31.94.

E-Trade Financial Corp. (NASDAQ:ETFC) opened at 33.89 on Tuesday. E-Trade Financial Corp. has a 52 week low of $19.61 and a 52 week high of $34.67. The firm has a 50 day moving average of $30.23 and a 200-day moving average of $27.06. The company has a market capitalization of $9.30 billion, a P/E ratio of 18.70 and a beta of 1.69.

E-Trade Financial Corp. (NASDAQ:ETFC) last released its quarterly earnings results on Thursday, October 20th. The company reported $0.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.13. E-Trade Financial Corp. had a net margin of 27.25% and a return on equity of 8.31%. The business had revenue of $486 million for the quarter, compared to the consensus estimate of $645 million. During the same period in the prior year, the company posted $0.48 earnings per share. E-Trade Financial Corp.’s revenue was up 12.8% compared to the same quarter last year. On average, analysts forecast that E-Trade Financial Corp. will post $1.82 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. LPL Financial LLC raised its position in E-Trade Financial Corp. by 2.3% in the first quarter. LPL Financial LLC now owns 74,877 shares of the company’s stock valued at $1,793,000 after buying an additional 1,694 shares during the last quarter. Seven Eight Capital LLC purchased a new position in E-Trade Financial Corp. during the first quarter valued at about $196,000. Royal Bank of Canada raised its position in E-Trade Financial Corp. by 17.8% in the first quarter. Royal Bank of Canada now owns 859,249 shares of the company’s stock valued at $21,044,000 after buying an additional 129,580 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in E-Trade Financial Corp. by 54.0% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 23,004 shares of the company’s stock valued at $564,000 after buying an additional 8,064 shares during the last quarter. Finally, First Republic Investment Management Inc. raised its position in E-Trade Financial Corp. by 17.7% in the first quarter. First Republic Investment Management Inc. now owns 68,759 shares of the company’s stock valued at $1,684,000 after buying an additional 10,358 shares during the last quarter. Hedge funds and other institutional investors own 90.55% of the company’s stock.

About E-Trade Financial Corp.

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