Today’s Price Action: E*TRADE Financial Corp’s Stock Is Buy After Touching 52-Week High

Today's Price Action: E*TRADE Financial Corp's Stock Is Buy After Touching 52 Week High

The stock of E*TRADE Financial Corp (NASDAQ:ETFC) hit a new 52-week high and has $36.00 target or 5.00% above today’s $34.29 share price. The 8 months bullish chart indicates low risk for the $9.50B company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $36.00 price target is reached, the company will be worth $475.00 million 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 1.54 million shares traded hands. E*TRADE Financial Corp (NASDAQ:ETFC) has risen 34.96% since April 21, 2016 and is uptrending. It has outperformed by 29.64% the S&P500.

Analysts await E*TRADE Financial Corp (NASDAQ:ETFC) to report earnings on January, 19. They expect $0.41 earnings per share, up 36.67% or $0.11 from last year’s $0.3 per share. ETFC’s profit will be $113.62 million for 20.90 P/E if the $0.41 EPS becomes a reality. After $0.51 actual earnings per share reported by E*TRADE Financial Corp for the previous quarter, Wall Street now forecasts -19.61% negative EPS growth.

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. Credit Suisse maintained E*TRADE Financial Corp (NASDAQ:ETFC) rating on Wednesday, September 21. Credit Suisse has “Outperform” rating and $33 price target. The firm has “Equal-Weight” rating given on Monday, September 26 by Morgan Stanley. Barclays Capital maintained it with “Overweight” rating and $33 target price in Thursday, October 13 report. The stock has “Buy” rating given by Nomura on Monday, July 11. The firm has “Outperform” rating by Credit Agricole given on Tuesday, October 13. Barclays Capital maintained the stock with “Overweight” rating in Thursday, October 8 report. Standpoint Research maintained the shares of ETFC in a report on Sunday, August 9 with “Hold” rating. The firm has “Neutral” rating by Goldman Sachs given on Friday, July 22. The rating was downgraded by Bank of America to “Neutral” on Thursday, October 13. The stock of E*TRADE Financial Corp (NASDAQ:ETFC) earned “Buy” rating by Deutsche Bank on Thursday, March 17.

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 increased to 0.88 in 2016 Q2. Its up 0.10, from 0.78 in 2016Q1. The ratio improved, 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.
Lpl Ltd Liability Com has 0% invested in the company for 19,721 shares. Fifth Third Bancshares has 1.01M shares for 0.2% of their US portfolio. Parametric Associates Ltd Com has 0.02% invested in the company for 530,861 shares. Blackrock Fund Advsrs last reported 4.51M shares in the company. Century Inc holds 0% or 38,847 shares in its portfolio. Nationwide Fund Advsr holds 654,510 shares or 0.07% of its portfolio. Moreover, Blackrock Group Inc Limited has 0.03% invested in E*TRADE Financial Corp (NASDAQ:ETFC) for 2.08M shares. Mizuho Tru And Banking Limited last reported 0.03% of its portfolio in the stock. State Of Tennessee Treasury Department has 212,808 shares for 0.03% of their US portfolio. Nomura Asset Limited reported 60,368 shares or 0.03% of all its holdings. Comerica Fincl Bank reported 71,058 shares or 0.02% of all its holdings. Utah Retirement accumulated 50,906 shares or 0.03% of the stock. Citigroup Inc reported 39,460 shares or 0% of all its holdings. Bb&T has 20,105 shares for 0.01% of their US portfolio. Pictet Asset has 146,676 shares for 0.02% of their US portfolio.

Insider Transactions: Since November 14, 2016, the stock had 0 insider purchases, and 1 sale for $261,290 net activity. Simonich Brent also sold $261,290 worth of E*TRADE Financial Corp (NASDAQ:ETFC) shares.

More news for E*TRADE Financial Corp (NASDAQ:ETFC) were recently published by: Businesswire.com, which released: “E*TRADE Study of Experienced Investors Bucks the Traditional Understanding of …” on November 16, 2016. Businesswire.com‘s article titled: “E*TRADE Financial Corporation Reports Monthly Activity for October 2016” and published on November 14, 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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