Price Action Report: Could E*TRADE Financial Corp See a Reversal After Breaking Its 52-Week High?

Price Action Report: Could E*TRADE Financial Corp See a Reversal After Breaking Its 52 Week High?

The stock of E*TRADE Financial Corp (NASDAQ:ETFC) hit a new 52-week high and has $39.89 target or 20.00% above today’s $33.24 share price. The 5 months bullish chart indicates low risk for the $9.23B company. The 1-year high was reported on Nov, 16 by Barchart.com. If the $39.89 price target is reached, the company will be worth $1.85 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 316,738 shares traded hands. E*TRADE Financial Corp (NASDAQ:ETFC) has risen 35.49% since April 14, 2016 and is uptrending. It has outperformed by 30.80% the S&P500.

E*TRADE Financial Corp (NASDAQ:ETFC) Ratings Coverage

Out of 15 analysts covering E*TRADE (NASDAQ:ETFC), 10 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 67% are positive. E*TRADE has been the topic of 43 analyst reports since July 24, 2015 according to StockzIntelligence Inc. Barclays Capital maintained the shares of ETFC in a report on Friday, January 22 with “Overweight” rating. The stock of E*TRADE Financial Corp (NASDAQ:ETFC) has “Buy” rating given on Thursday, March 17 by Deutsche Bank. Compass Point maintained the shares of ETFC in a report on Friday, July 24 with “Buy” rating. Nomura maintained E*TRADE Financial Corp (NASDAQ:ETFC) rating on Monday, July 11. Nomura has “Buy” rating and $30 price target. Compass Point maintained the shares of ETFC in a report on Friday, January 22 with “Buy” rating. Deutsche Bank maintained E*TRADE Financial Corp (NASDAQ:ETFC) on Monday, July 18 with “Buy” rating. Morgan Stanley initiated the stock with “Equal-Weight” rating in Monday, September 26 report. Credit Suisse maintained the stock with “Outperform” rating in Monday, February 22 report. On Wednesday, March 23 the stock rating was initiated by SunTrust with “Neutral”. The firm earned “Neutral” rating on Thursday, October 13 by Bank of America.

According to Zacks Investment Research, “E*TRADE Financial Corp was incorporated in California in 1982 and reincorporated in Delaware in July 1996. It is a financial services company and an online brokerage industry. The Company offers easy to use solutions for individual investors and stock plan participants. The Company offers its customers to take control of its financial futures by providing the products, tools, services and advice they need to meet their near and long term investing goals. The Company provides these services to customers both online and through their network of customer service representatives and Financial Consultants – over the phone and in person at 30 company branches across the United States. The company operates a bank with the primary purpose of maximizing the value of deposits generated though its brokerage business.”

Insitutional Activity: The institutional sentiment decreased to 0.78 in 2016 Q2. Its down 0.01, from 0.79 in 2016Q1. The ratio dived, as 42 funds sold all E*TRADE Financial Corp shares owned while 142 reduced positions. 46 funds bought stakes while 97 increased positions. They now own 244.42 million shares or 4.84% less from 256.87 million shares in 2016Q1.
Tci Wealth Advsrs owns 543 shares or 0.01% of their US portfolio. Espalier Global Mgmt Lc holds 1.83% or 70,717 shares in its portfolio. Lucus Ltd Liability has 0.29% invested in the company for 14,874 shares. Peak6 Investments Limited Partnership has 0.01% invested in the company for 70,654 shares. Visium Asset Management Ltd Partnership has 395,591 shares for 0.65% of their US portfolio. Wolverine Asset Mgmt Llc reported 1,098 shares or 0% of all its holdings. Millennium Management Limited Liability accumulated 0.13% or 2.43 million shares. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Investment Corporation accumulated 204,420 shares or 0.05% of the stock. Blackrock Japan accumulated 0.03% or 364,755 shares. Canada Pension Plan Board accumulated 0% or 31,310 shares. Bluemar Capital Mngmt Limited Liability Corp has 265,015 shares for 3% of their US portfolio. D E Shaw & Com accumulated 0.09% or 2.06 million shares. Driehaus Capital Limited Liability Company last reported 50,810 shares in the company. Verition Fund Mgmt Limited Liability has invested 0.11% of its portfolio in E*TRADE Financial Corp (NASDAQ:ETFC). Walleye Trading Ltd Llc holds 51,207 shares or 0.01% of its portfolio.

More news for E*TRADE Financial Corp (NASDAQ:ETFC) were recently published by: Businesswire.com, which released: “E*TRADE Financial Corporation Reports Monthly Activity for October 2016” on November 14, 2016. Nasdaq.com‘s article titled: “E*Trade Financial Corp. Profit Rises 45% In Q3” and published on October 20, 2016 is yet another important article.

ETFC Company Profile

E*Trade Financial Corporation, incorporated on September 4, 2003, is a financial services company. The Firm provides brokerage and related services and products primarily to individual retail investors under the brand E*TRADE Financial. The Firm also provides investor-focused banking products, primarily sweep deposits, to retail investors. The Firm operates in two divisions: trading and investing, and balance sheet management. The Company’s hybrid service delivery model is delivered through various digital platforms: E*TRADE.com, E*TRADE Mobile and E*TRADE Pro. E*TRADE.com is its site that provides clients with tools, guidance, actionable ideas, research and education to take control of their finances. E*TRADE Mobile offers trading applications for various smartphones and tablets. E*TRADE Pro is its trading platform for active and elite traders, with tools and customizable layouts.

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