E*TRADE Financial (ETFC) Downgraded to Sell at BidaskClub

E*TRADE Financial (NASDAQ:ETFC) was downgraded by stock analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Friday, BidAskClub reports.

A number of other brokerages have also recently commented on ETFC. Zacks Investment Research upgraded E*TRADE Financial from a “hold” rating to a “buy” rating and set a $56.00 price target on the stock in a research report on Thursday, May 9th. Morgan Stanley raised their price target on E*TRADE Financial from $59.00 to $61.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 7th. Barclays raised their price target on E*TRADE Financial to $55.00 and gave the stock an “overweight” rating in a research report on Friday, January 25th. UBS Group cut E*TRADE Financial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $58.00 to $51.00 in a research report on Wednesday, February 20th. Finally, ValuEngine cut E*TRADE Financial from a “hold” rating to a “sell” rating in a research report on Friday, January 25th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and eleven have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $59.58.

Shares of NASDAQ ETFC opened at $46.85 on Friday. The company has a current ratio of 0.24, a quick ratio of 0.24 and a debt-to-equity ratio of 0.28. E*TRADE Financial has a 52 week low of $40.41 and a 52 week high of $66.46. The firm has a market capitalization of $11.46 billion, a P/E ratio of 12.04, a P/E/G ratio of 1.02 and a beta of 1.16.

E*TRADE Financial (NASDAQ:ETFC) last issued its quarterly earnings results on Wednesday, April 17th. The financial services provider reported $1.09 EPS for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.16. E*TRADE Financial had a return on equity of 18.06% and a net margin of 37.50%. The company had revenue of $755.00 million for the quarter, compared to analysts’ expectations of $738.04 million. During the same quarter last year, the business earned $0.88 earnings per share. E*TRADE Financial’s revenue was up 6.6% on a year-over-year basis. As a group, equities analysts anticipate that E*TRADE Financial will post 4.35 EPS for the current year.

In other E*TRADE Financial news, Director Rodger A. Lawson sold 41,322 shares of E*TRADE Financial stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $48.13, for a total value of $1,988,827.86. Following the transaction, the director now owns 114,753 shares in the company, valued at $5,523,061.89. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Primecap Management Co. CA grew its holdings in shares of E*TRADE Financial by 1.7% during the first quarter. Primecap Management Co. CA now owns 13,565,625 shares of the financial services provider’s stock worth $629,852,000 after purchasing an additional 229,900 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of E*TRADE Financial by 19.9% during the fourth quarter. Victory Capital Management Inc. now owns 5,292,883 shares of the financial services provider’s stock worth $232,252,000 after purchasing an additional 878,417 shares during the last quarter. Boston Partners grew its holdings in shares of E*TRADE Financial by 13.9% during the first quarter. Boston Partners now owns 4,660,073 shares of the financial services provider’s stock worth $216,367,000 after purchasing an additional 567,628 shares during the last quarter. Northern Trust Corp grew its holdings in shares of E*TRADE Financial by 0.4% during the fourth quarter. Northern Trust Corp now owns 4,197,323 shares of the financial services provider’s stock worth $184,179,000 after purchasing an additional 14,996 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of E*TRADE Financial by 3.7% during the first quarter. Geode Capital Management LLC now owns 3,550,312 shares of the financial services provider’s stock worth $164,563,000 after purchasing an additional 125,609 shares during the last quarter. Hedge funds and other institutional investors own 89.15% of the company’s stock.

E*TRADE Financial Company Profile

E*TRADE Financial Corporation, a financial services company, provides brokerage and related products and services for traders, investors, stock plan administrators and participants, and registered investment advisors (RIAs). It also offers investor-focused banking products, primarily sweep deposits to customers; clearing and settlement services; Federal Deposit Insurance Corporation insurance services; custody solutions to RIAs; other banking and cash management services; software and services for managing equity compensation plans to its corporate clients; retail futures transaction services; and investment advisory services.

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

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