NEW YORK (TheStreet) -- E-Trade Financial Corp. (ETFC) Shares were among the best performers in the financial sector Thursday after first quarter earnings results handily beat analyst estimates and Sander O'Neill analyst Richard Repetto upgraded the stock.
Shares were higher by 6.23% to $22.84 shortly before noon on Thursday.
E-Trade earned $0.33 per share versus a consensus expectation of $0.23, the online broker reported late Wednesday after the market closed.
KBW analyst Joel Jeffrey cited "higher than expected net interest income and a lower than expected provision expense," for the positive results. He left his recommendation unchanged at market perform but raised earnings estimates and his target price due to the results as well as "more favorable company guidance."
Repetto's report could not immediately be obtained.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV