Hot Fintech stock to watch: E*TRADE Financial Corp (NASDAQ: ETFC)

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E*TRADE Financial Corp (NASDAQ: ETFC) stock rose over 2.2% on 19th July, 2019 (as of  9:34 am GMT-4; Source: Google finance) after the company in the second quarter of FY 19 has reported the net income of $219 million, total net revenue of $685 million and adjusted operating margin of 42 percent.

The Company had repositioned its balance sheet during the second quarter through the sales of $4.5 billion of lower-yielding investment securities. These sales enabled a reduction of balance sheet size through the move of deposits to third-party banks, generating additional capital capacity to support share repurchases. Gains (losses) on securities and other, net includes $80 million of losses related to the sales. The losses were partially offset by $16 million in gains from other investment security activity in this line item.

Moreover, the company has generated net new retail and advisor services accounts out of 34,000, down from last quarter’s record. Net inflows of $1.6 billion reflected higher-than-usual pressures from tax season. In Corporate Services, the company has generated 36,000 net new accounts or an 8% annualized growth rate. Gross inflows were a remarkable $25 billion, with new implementations of $9 billion, the second best quarter ever.

ETFC has declared a quarterly cash dividend of $0.14 per share on the Company’s outstanding shares of common stock. The dividend is payable on August 26, 2019, to shareholders of record as of the close of business on August 19, 2019. The company had completed more than $800 million of the current $1 billion buyback authorization, and we plan to continue the robust pace of capital return, which is particularly accretive to EPS at the current stock price.

ETFC has reaffirmed the long-term EPS target of greater than $7 per share by 2023 as increased share repurchases and disciplined expense management help offset the interest rate pressures that have emerged in the last couple of quarters.

Meanwhile, in the second quarter, the company had made advancements across the suite of offerings. ETFC had launched the new Retirement Planning Hub that helps investors understand their financial picture and what gaps they may need to fill. The company has improved the automatic investing experience with a cleaner look and feel while lowering minimum contributions to a bite size $25. And the company has dropped the minimums for the robo-advisor and pre-built mutual fund portfolios to $500.

Corp (NASDAQ: ETFC) stock rose over 2.2% on 19th July, 2019 (as of  9:34 am GMT-4; Source: Google finance) after the company in the second quarter of FY 19 has reported the net income of $219 million, total net revenue of $685 million and adjusted operating margin of 42 percent.

The Company had repositioned its balance sheet during the second quarter through the sales of $4.5 billion of lower-yielding investment securities. These sales enabled a reduction of balance sheet size through the move of deposits to third-party banks, generating additional capital capacity to support share repurchases. Gains (losses) on securities and other, net includes $80 million of losses related to the sales. The losses were partially offset by $16 million in gains from other investment security activity in this line item.

Moreover, the company has generated net new retail and advisor services accounts out of 34,000, down from last quarter’s record. Net inflows of $1.6 billion reflected higher-than-usual pressures from tax season. In Corporate Services, the company has generated 36,000 net new accounts or an 8% annualized growth rate. Gross inflows were a remarkable $25 billion, with new implementations of $9 billion, the second best quarter ever.

ETFC has declared a quarterly cash dividend of $0.14 per share on the Company’s outstanding shares of common stock. The dividend is payable on August 26, 2019, to shareholders of record as of the close of business on August 19, 2019. The company had completed more than $800 million of the current $1 billion buyback authorization, and we plan to continue the robust pace of capital return, which is particularly accretive to EPS at the current stock price.

ETFC has reaffirmed the long-term EPS target of greater than $7 per share by 2023 as increased share repurchases and disciplined expense management help offset the interest rate pressures that have emerged in the last couple of quarters.

Meanwhile, in the second quarter, the company had made advancements across the suite of offerings. ETFC had launched the new Retirement Planning Hub that helps investors understand their financial picture and what gaps they may need to fill. The company has improved the automatic investing experience with a cleaner look and feel while lowering minimum contributions to a bite size $25. And the company has dropped the minimums for the robo-advisor and pre-built mutual fund portfolios to $500.

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