ETFC’s Credit Trends Continue To Improve Gradually

Analysts at Macquarie Capital Markets maintain their "neutral" rating on E*TRADE Financial (NASDAQ: ETFC). The target price for ETFC is set to $1.72.

ETFC has posted its Q1 EPS and revenues ahead of the estimates and consensus. According to Macquarie Capital Markets, “Early-stage delinquencies on HELOCs fell to $214m in March from $247m in December (2.84% vs. 3.13%), while Firsts were flattish at $527m.”

“As the mortgage overhang slowly lifts, the primary hurdle to a split-up/wind-down of the broker/bank also shrinks. However, we believe the stock already reflects such a scenario,” the analysts say.

More Analyst Ratings here.