Deutsche Bank Has Hold On E-Trade (ETFC)

Deutsche Bank has a Hold rating and a $17 price target on shares of E TRADE Financial Corporation ETFC. In a note to clients, Deutsche Bank writes, "ETFC reported its monthly metrics with DARTs coming in at ~181K (+22% m/m & +5% y/y), slightly ahead of expectations, but slightly below peers (AMTD +%25% m/m & SCHW +28% m/m). End of period accounts remained steady at ~4.3M, but net new brokerage accounts were decent at ~12.5K (but down from a solid Dec +18K). In addition, total client assets increased to ~$181B (+3% m/m & +25% y/y), driven by upward trending markets (~2% in January) and improving net new brokerage assets of $1.2B ($1.2B in brokerage inflows offset by $0.2B in banking outflows leading to $1.0B in total net new customer assets), which was the highest level since October 2008." Shares of E-Trade are up 12 cents to $18.00, a gain of 0.7%.