ETFC Gains 20%+ – Zacks Tale of the Tape
Source: http://www.zacks.com/stock/news/18318/ETFC+Gains+20%25%2B+-+Zacks+Tale+of+the+TapePosted on Wednesday, March 18th, 2009 | In Stocks to Watch
E*TRADE FINANCIAL Corporation (ETFC) announced earlier today that “special mention” delinquencies (30 to 89 days delinquent) for its home equity portfolio declined by 16% since 2008, which suggests some stabilization.
Specifically, the delinquencies declined by 9% in January from December, and another 8% in February from January.
Shares of the company have surged by more than 20% today on the news.
Meanwhile, home equity at risk delinquencies (30 to 179 days delinquent) show a cumulative decline of 1% quarter to date.
ETFC also provided its Monthly Activity Report for February. The company’s total retail accounts are now at a record 4.57 million. During the month, it opened 62,361 gross new retail accounts, with net new retail accounts of 10,684. Total Daily Average Revenue Trades (DARTs) declined sequentially by 1.3% to 181,744.
ETFC is currently a Zacks #3 Rank (”hold”) company.
“ETFC” Free Stock Analysis: Buy? Sell? Hold?
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