E*TRADE Financial Corp (ETFC) is Downgraded by BofA/Merrill to Neutral

E*TRADE Financial Corp (ETFC) was Downgraded by BofA/Merrill to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. BofA/Merrill advised their investors in a research report released on Oct 13, 2016.

Many Wall Street Analysts have commented on E*TRADE Financial Corp. Morgan Stanley Initiated E*TRADE Financial Corp on Sep 26, 2016 to “Equal-Weight”, Price Target of the shares are set at $29.Credit Suisse Resumed E*TRADE Financial Corp on Sep 21, 2016 to “Outperform”, Price Target of the shares are set at $33.Shares were Reiterated by Compass Point on Jul 22, 2016 to “Buy” and Lowered the Price Target to $ 30 from a previous price target of $31 .

On the company’s financial health, E*TRADE Financial Corp reported $0.43 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $0.33. The company had revenue of $472.00 million for the quarter, compared to analysts expectations of $475.14 million. The company’s revenue was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.29 EPS.

E*TRADE Financial Corp closed down -0.48 points or -1.63% at $28.93 with 42,27,743 shares getting traded on Tuesday. Post opening the session at $29.3, the shares hit an intraday low of $28.7301 and an intraday high of $29.53 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Apr 28, 2016, Brent Simonich (Principal Accounting Officer) sold 3,994 shares at $26.22 per share price. According to the SEC, on Apr 27, 2016, Karl A Roessner (EVP & General Counsel) sold 16,828 shares at $25.93 per share price. On Feb 11, 2016, Michael A. Pizzi (EVP & Chief Financial Officer) sold 22,262 shares at $21.29 per share price, according to the Form-4 filing with the securities and exchange commission.

E*Trade Financial Corporation is a financial services company and an online brokerage industry. The Company offers 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.

E*TRADE Financial Corp

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