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Schwab's (SCHW) February Metrics Indicate Y/Y Improvement

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The Charles Schwab Corporation (SCHW - Free Report) released monthly activity report for Feb 2017, which shows an improvement over the year-ago period. Total client assets were $2.9 trillion at the end of the month, up 19% year over year.

Further, client assets receiving ongoing advisory services were $1.466.9 trillion, up 20% year over year. Also, Schwab’s average interest earning assets were $216.1 billion at February end, reflecting 21% increase on a year-over-year basis.

Schwab opened 113,000 new brokerage accounts in February, up 35% from the prior-year month. However, net new assets, through both existing and new clients totaled $6.6 billion, down 39% year over year.

Schwab’s active brokerage accounts totaled $10.25 million at the end of the month, up 4% from the Feb-2016 level. The client’s banking accounts at the end of the reported month came in at 1.1 million, growing 7% from the year-ago period. Further, the number of retirement plan participants was 1.53 million, which rose 1% year over year.

With Schwab slashing trading fees, a further rise in brokerage accounts and client assets is expected, going forward. Shares of the company increased 39.8% in the last six months, marginally underperforming the 40.8% gain of the Zacks categorized Investment Brokers industry.



Currently, Schwab carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Among other brokerage stocks, E*TRADE Financial Corporation reported a rise in its Daily Average Revenue Trades (DARTs) for Feb 2017. According to its monthly market activity, the company’s DARTs were 218,964, up 9% from the prior month and 33% year over year.

TD Ameritrade Holding Corporation (AMTD - Free Report) came up with average client trades per day of 534,000 in its activity report for Feb 2017. The reported figure increased 2% from the prior month and 5% from the year-ago period.

Interactive Brokers Group, Inc.’s (IBKR - Free Report) total client DARTs were 678,000 for Feb 2017, down 12% from Feb 2016 but up 5% from Jan 2017. Also, total customer accounts were 398,000, up 17% year over year and 2% from the prior month.

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