ETrade Financial Corp. (ETFC) Buy, Sell or Hold

ETrade Financial Corp. (ETFC)

49.21

-0.00 (0.00%)

as of Oct 1, 2020, 10:00:09 pm Market Open.

9 watching

TOP PICK

Originally, this was a sort of discount brokerage. They formed into 2 segments, one being a bank and the other a brokerage. In 2009 they had a mortgage book of about $20 billion. Part of that was normal conforming mortgages, and part of it was a big home equity book. The whole thing was underwritten very poorly. That book is now less than $4 billion. (Analysts’ price target is $42.82.)

DON'T BUY

Something major has gone wrong here. It is leading the market down.

DON'T BUY

Have been shored up and he can see a fair bit of upside. Doesn't know the financials well enough to know what he would do, but wouldn't buy into it at this point.

COMMENT

The problem with this company is that they really re-capitalized themselves so he has yet to see the balance sheet. When they do report, there will be a lot of difference in the balance sheet. The mean estimate is $.30 for Dec/08. This is really not an equity position, it is really a Call.

DON'T BUY

An online trader and online trading numbers in the US have come down. This is a very troubled company. For some reason, they got into the mortgage business and have taken a huge bath and some analysts have questioned if they will survive.

DON'T BUY

Good company. Industry has been consolidated in the last few years which has helped. Good technology. Multiple is high at these levels. Expect there will be more consolidation. Major problem is that every bank has electronic trading, so over a period of time you will want to deal with your bank only.

DON'T BUY

Leery about the management.

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