ETFC - Etrade

[mysticdrew]

Taking a hit after this evening's earnings disappointment.  In general it's been pretty beaten down since the the whole financial crisis started. 

 

Anyone else follow, own, or see potential value in this one at these levels?  Decent brand/trading franchise and they've drastically reduced their mortgage book over the years which has been it's major overhang. 

 

[cayale]

I looked awhile back at 15% lower prices. While interesting, and though they had taken some marks on the mortgage portfolio, the delinquencies still looked pretty ugly. It might be worth a peek with another couple quarters' seasoning.

[PlanMaestro]

Another bad quarter. When to buy, that's the question.

 

http://files.shareholder.com/downloads/ET/2288119390x0x630619/1dd84fca-d23d-4382-bc6f-4d4daf9edc16/ETFC_Q4_2012_Earnings_Release.pdf

 

[mysticdrew]

Another bad quarter. When to buy, that's the question.

 

http://files.shareholder.com/downloads/ET/2288119390x0x630619/1dd84fca-d23d-4382-bc6f-4d4daf9edc16/ETFC_Q4_2012_Earnings_Release.pdf

 

Doesn't seem to be that bad of a quarter after digesting it... market reacted negatively at first but it's bounced back.  The big loss was from penalties associated with extinguishing high cost debt with much lower cost debt which is better for earnings going forward.

 

Looks like the best  time to buy would have been in $7-8 range after the previous q report.

[fareastwarriors]

I owned this since 2007. I had a small position back in 2007.  I held through the dark years and added more in 2011, a bit in 2012 and a bit more after the previous quarter. All my other financial companies have turned the corner and now are solidly in the green but not ETFC. When is this company going to finally have its act together?

I think they have a good franchise with the discount brokerage business but the legacy issues are Still weighing about all these years....