E*TRADE (NASDAQ:ETFC) Hampered by Early-Stage Delinquencies

E*TRADE (NASDAQ:ETFC) continues to perform solidly with their brokerage business, but early-stage delinquencies continue to weigh on the company.

FBR said, "We reiterate our rating and price target on ETFC shares following the release of client metrics this morning. The brokerage operations continue to post good results, but the fact that early-stage delinquencies increased over the past two months definitely delays our thesis of releasing excess capital from the bank over time as the troubled credit portfolio runs off. We remain confident in the company delivering value for long-term investors, but the near-term catalyst has stalled."

FBR Capital reiterates an "Outperform" on E*TRADE, which closed Wednesday at $15.04, down $0.57, or 3.65 percent. They have a price target of $20 on the company.