Nomura Securities Maintains a 'Buy' on E*TRADE (ETFC); Looking For Comfort as CEO Sparks Renewed Speculation
Tweet
Share
E-mailGet Alerts ETFC Hot Sheet
Price: $49.26 --0%
Rating Summary:
11 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 19
Rating Summary:
11 Buy, 13 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 10 | Down: 16 | New: 19
Join SI Premium – FREE
Nomura Securities maintains a 'Buy' on E*TRADE (NASDAQ: ETFC) price target of $10.50.
Analyst, Keith Murray, said, "E*TRADE’s recent CEO change sparked renewed press talk about a potential sale of the company. We continue to think that E*TRADE will eventually be sold, but a potential buyer will need to feel comfortable taking on E*TRADE’s loan book ($11.8bn as of 2Q12). While the loan book has characteristics that raise eyebrows (110% LTV on the 1-4 family loans, 114% CLTV on the home equity loans, mostly 2005-2007 vintages, over 80% originated by a third party), we want to highlight some of the positive trends that E*TRADE’s book is experiencing. Some signs of improvement in housing prices. E*TRADE’s loans are most heavily concentrated in California (47% of 1-4 family loans and 32% of home equity loans), followed by New York (7% of both the 1-4 family and home equity books) and Florida (also 7% of both the 1-4 family and home equity books)."
For an analyst ratings summary and ratings history on E*TRADE click here. For more ratings news on E*TRADE click here.
Shares of E*TRADE closed at $8.53 yesterday.
Analyst, Keith Murray, said, "E*TRADE’s recent CEO change sparked renewed press talk about a potential sale of the company. We continue to think that E*TRADE will eventually be sold, but a potential buyer will need to feel comfortable taking on E*TRADE’s loan book ($11.8bn as of 2Q12). While the loan book has characteristics that raise eyebrows (110% LTV on the 1-4 family loans, 114% CLTV on the home equity loans, mostly 2005-2007 vintages, over 80% originated by a third party), we want to highlight some of the positive trends that E*TRADE’s book is experiencing. Some signs of improvement in housing prices. E*TRADE’s loans are most heavily concentrated in California (47% of 1-4 family loans and 32% of home equity loans), followed by New York (7% of both the 1-4 family and home equity books) and Florida (also 7% of both the 1-4 family and home equity books)."
For an analyst ratings summary and ratings history on E*TRADE click here. For more ratings news on E*TRADE click here.
Shares of E*TRADE closed at $8.53 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Deutsche Bank Downgrades Workday (WDAY) to Hold
- Nyxoah SA (NYXH) PT Lowered to $6 at Cantor Fitzgerald to Reflect Current Trading Levels
- Exclusive-Silver Lake in talks to buy Workday, sources say
Create E-mail Alert Related Categories
Analyst Comments, Rumors, Trader TalkRelated Entities
NomuraSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
