E*TRADE Financial Corporation (ETFC) is a financial services company that offers online brokerage and related banking products and services to individual retail investors. The company was founded in 1982 and is headquartered in New York City.
ETFC operates through two segments: Trading and Investing, and Balance Sheet Management. The Trading and Investing segment offers retail brokerage and advisory services, as well as cash management products. It provides access to stocks, options, bonds, mutual funds, ETFs, and other investment products. The Balance Sheet Management segment focuses on managing the company's asset allocation and funding obligations.
As of February 23, 2023, ETFC has a market capitalization of approximately $19.85 billion. The company has over 5.2 million customer accounts and manages over $700 billion in client assets. ETFC is traded on the NASDAQ stock exchange under the ticker symbol "ETFC."
In 2021, ETFC reported total revenue of $4.6 billion and net income of $1.2 billion. The company has a strong balance sheet with over $8.6 billion in cash and cash equivalents as of December 31, 2021. ETFC has been consistently profitable over the past five years, with a compound annual growth rate (CAGR) of 23.5% in earnings per share.
ETFC has been expanding its product and service offerings to appeal to a wider range of customers. In 2020, the company launched a new robo-advisory platform called E*TRADE Adaptive Portfolio. The platform offers automated investing and financial planning services for a low fee.
However, like many financial services companies, ETFC faces regulatory and competitive risks. The company is subject to oversight by the SEC and other regulatory bodies. It also competes with other online brokers, such as TD Ameritrade, Charles Schwab, and Robinhood, among others.
In summary, ETFC is a well-established financial services company that offers online brokerage and banking services to individual investors. The company has a strong balance sheet and has been consistently profitable over the past several years. However, it faces regulatory and competitive risks in a rapidly evolving industry.
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