E*TRADE Financial (NASDAQ:ETFC) Given a $57.00 Price Target at Raymond James

Raymond James set a $57.00 target price on E*TRADE Financial (NASDAQ:ETFC) in a research note released on Friday morning, TipRanks reports. The brokerage currently has a buy rating on the financial services provider’s stock.

Several other analysts have also recently weighed in on ETFC. Compass Point set a $52.00 price objective on shares of E*TRADE Financial and gave the stock a buy rating in a research note on Tuesday, July 2nd. BidaskClub cut shares of YY from a sell rating to a strong sell rating in a research note on Tuesday. Barclays set a $89.00 price objective on shares of Franco Nevada and gave the stock a hold rating in a research note on Friday. Deutsche Bank set a $128.00 price objective on shares of United Rentals and gave the stock a hold rating in a research note on Friday. Finally, Zacks Investment Research cut shares of Hammerson from a hold rating to a sell rating in a research note on Friday, May 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $56.64.

NASDAQ:ETFC traded up $1.03 during mid-day trading on Friday, hitting $48.63. The company’s stock had a trading volume of 3,604,000 shares, compared to its average volume of 2,551,170. E*TRADE Financial has a fifty-two week low of $40.41 and a fifty-two week high of $62.12. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.27 and a quick ratio of 0.24. The firm has a market cap of $11.59 billion, a P/E ratio of 12.50, a price-to-earnings-growth ratio of 1.11 and a beta of 1.15. The company has a fifty day simple moving average of $45.85.

E*TRADE Financial (NASDAQ:ETFC) last posted its quarterly earnings results on Thursday, July 18th. The financial services provider reported $1.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.02. E*TRADE Financial had a net margin of 36.75% and a return on equity of 18.44%. The firm had revenue of $685.00 million during the quarter, compared to analyst estimates of $751.35 million. During the same quarter in the prior year, the business posted $0.95 earnings per share. The company’s quarterly revenue was down 3.5% compared to the same quarter last year. Sell-side analysts expect that E*TRADE Financial will post 4.25 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 26th. Stockholders of record on Monday, August 19th will be paid a dividend of $0.14 per share. The ex-dividend date is Friday, August 16th. This represents a $0.56 annualized dividend and a dividend yield of 1.15%. E*TRADE Financial’s dividend payout ratio (DPR) is currently 14.40%.

In other news, Director Rodger A. Lawson sold 41,322 shares of the stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $48.13, for a total transaction of $1,988,827.86. Following the sale, the director now directly owns 114,753 shares of the company’s stock, valued at $5,523,061.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ETFC. Norges Bank bought a new stake in shares of E*TRADE Financial during the fourth quarter valued at approximately $103,578,000. Thompson Siegel & Walmsley LLC grew its stake in shares of E*TRADE Financial by 95.7% during the first quarter. Thompson Siegel & Walmsley LLC now owns 1,458,267 shares of the financial services provider’s stock valued at $67,708,000 after purchasing an additional 713,076 shares during the last quarter. Clearbridge Investments LLC grew its stake in shares of E*TRADE Financial by 221,128.4% during the first quarter. Clearbridge Investments LLC now owns 707,931 shares of the financial services provider’s stock valued at $32,869,000 after purchasing an additional 707,611 shares during the last quarter. Boston Partners lifted its holdings in E*TRADE Financial by 13.9% in the first quarter. Boston Partners now owns 4,660,073 shares of the financial services provider’s stock valued at $216,367,000 after buying an additional 567,628 shares during the period. Finally, Clark Capital Management Group Inc. lifted its holdings in E*TRADE Financial by 2,066.6% in the second quarter. Clark Capital Management Group Inc. now owns 398,910 shares of the financial services provider’s stock valued at $17,791,000 after buying an additional 380,498 shares during the period. 91.61% of the stock is currently owned by institutional investors and hedge funds.

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.

Recommended Story: Compound Interest and Why It Matters When Investing

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

Receive News & Ratings for E*TRADE Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for E*TRADE Financial and related companies with MarketBeat.com's FREE daily email newsletter.