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Schwab's (SCHW) April Metrics Indicate Y/Y Improvement
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The Charles Schwab Corporation (SCHW - Free Report) released monthly activity report for Apr 2017, which shows an improvement over the year-ago period. Total client assets were $2.95 trillion at the end of the month, up 14% year over year.
Further, client assets receiving ongoing advisory services were $1.50 trillion, up 16% year over year. Also, Schwab’s average interest earning assets were $217.4 billion at April end, reflecting 19% increase on a year-over-year basis.
Schwab opened 125,000 new brokerage accounts in February, up 21% from the prior-year month. However, net new assets, through both existing and new clients totaled $2.8 billion, surging 115% year over year.
Schwab’s active brokerage accounts totaled $10.39 million at the end of the month, up 5% from the Apr 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 rose 1% year over year to 1.54 million.
With Schwab slashing trading fees, a further rise in brokerage accounts and client assets is expected, going forward. Shares of the company increased 8% in the last six months, outperforming the 3.8% gain of the Zacks categorized Investment Brokers industry.
Among other brokerage stocks, E*TRADE Financial Corporation reported a rise in its Daily Average Revenue Trades (DARTs) for Apr 2017. According to its monthly market activity, the company’s DARTs were 196,022, up 23% year over year.
TD Ameritrade Holding Corporation (AMTD - Free Report) came up with average client trades per day of 502,000 in its activity report for Apr 2017. The reported figure increased 7% from the prior-year month.
Interactive Brokers Group, Inc.’s (IBKR - Free Report) total client DARTs were 645,000 for Apr 2017, down 3% from Apr 2016. However, total customer accounts were 398,000, up 18% year over year.
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Schwab's (SCHW) April Metrics Indicate Y/Y Improvement
The Charles Schwab Corporation (SCHW - Free Report) released monthly activity report for Apr 2017, which shows an improvement over the year-ago period. Total client assets were $2.95 trillion at the end of the month, up 14% year over year.
Further, client assets receiving ongoing advisory services were $1.50 trillion, up 16% year over year. Also, Schwab’s average interest earning assets were $217.4 billion at April end, reflecting 19% increase on a year-over-year basis.
Schwab opened 125,000 new brokerage accounts in February, up 21% from the prior-year month. However, net new assets, through both existing and new clients totaled $2.8 billion, surging 115% year over year.
Schwab’s active brokerage accounts totaled $10.39 million at the end of the month, up 5% from the Apr 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 rose 1% year over year to 1.54 million.
With Schwab slashing trading fees, a further rise in brokerage accounts and client assets is expected, going forward. Shares of the company increased 8% in the last six months, outperforming the 3.8% 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 Apr 2017. According to its monthly market activity, the company’s DARTs were 196,022, up 23% year over year.
TD Ameritrade Holding Corporation (AMTD - Free Report) came up with average client trades per day of 502,000 in its activity report for Apr 2017. The reported figure increased 7% from the prior-year month.
Interactive Brokers Group, Inc.’s (IBKR - Free Report) total client DARTs were 645,000 for Apr 2017, down 3% from Apr 2016. However, total customer accounts were 398,000, up 18% year over year.
5 Trades Could Profit "Big-League" from Trump Policies
If the stocks above spark your interest, wait until you look into companies primed to make substantial gains from Washington's changing course.
Today Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure. See these buy recommendations now >>