| Company Address 135 East 57th Street New York, NY 10022 United States |
PSD Comments This stock seems really cheap at these levels. The company addressed their financing concerns very early on, and besides, they are not very heavily leveraged on the banking side. They may also get close to a billion dollars from the government to help sure things up. Their core business is still trading, and they have seen a dramatic increase in trading over the last couple of months. A long term hold on this stock would not be advised, mainly becasue you never know whats on the horizon for these companies. We do see a potential for short to mid term gains as high as 1-200%, but would take half of any position off the table at 50%. The company has recently completed two key non-core asset sales (the Canadian brokerage business and their equity shares in Investsmart) resulting in net proceeds of approximately $660 million. One of their key strategic objectives for 2008 was to strengthen their retail customer base and ensure the credit issues in their balance sheet did not negatively impact their customer base. They have made some progress in this area throughout 2008. They have opened 215,000 gross new accounts and produced 41,000 net new accounts, they have net new customer asset flows of $800 million, and customer cash and deposit balances remained stable at $33.4 billion . |
Business description E*TRADE Financial Corporation, through its subsidiaries, offers financial solutions to retail and institutional customers worldwide. It provides retail investments and trading, which include automated order placement and execution of equities, currencies, futures, options, exchange-traded funds, mutual funds, and bonds, as well as offers quick transfer, wireless account access, extended hours trading, quotes, and research and advanced planning tools. The company also offers various banking and financial services that include checking, savings, sweep, and money market accounts; certificates of deposit products; mortgage, home equity, margin, and credit card products; and various loans, including one to four-family, home equity, recreational vehicle, marine, commercial, automobile, and credit card loans. In addition, it provides advisory and asset management services to retail clients. E*TRADE Financial primarily provides services through its Web site at www.etrade.com, as well as through its network of customer service representatives, relationship managers, and investment advisors. The company was founded in 1982 and is based in New York, New York. |
| Market Cap: 683.00M Shares Outstanding: 537.79M Float: 528.25M % Held by Insiders: 0.95% |
| ETFC (NASDAQ) Year Founded 1982 # of Employees 3,757 Employees Website www.etrade.com |
| 3 Months Avg. Price: 2.14 1 Month Avg. Price: 1.28 10 Days Avg. Price: 1.15 5 Days Avg. Price: 1.19 |
| 3 Months Avg. Volume: 16.49M 1 Month Avg. Volume: 10.42M 10 Days Avg. Volume: 13.80M 5 Days Avg. Volume: 11.42M |
as of 12/8/08
as of 12/8/08