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Schwab's (SCHW) August Metrics Indicate Y/Y Improvement
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The Charles Schwab Corporation (SCHW - Free Report) released the monthly activity report for August 2017, which shows an improvement over the year-ago period. Total client assets were $3.1 trillion at the end of the month, up 15% year over year.
Further, client assets receiving ongoing advisory services were $1.583 trillion, up 16% year over year. Also, Schwab’s average interest earning assets were $214.5 billion at August end, reflecting 10% increase on a year-over-year basis.
Notably, the company opened 123,000 new brokerage accounts in August, up 28% from the prior-year month. Net new assets, through both existing and new clients totaled $18 billion, surging 73% year over year.
In fact, Schwab’s active brokerage accounts totaled 10.53 million at the end of the month, up 5% from the August 2016 level. The client’s banking accounts at the end of the reported month came in at 1.2 million, rising 8% from the year-ago period. However, the number of retirement plan participants edged down 1% year over year to 1.55 million.
Consequently, shares of the company have increased 1.8% so far this year, as against a 0.5% decline of the industry it belongs to.
E*TRADE Financial Corporation reported a rise in its Daily Average Revenue Trades (DARTs) for August 2017 on a year-over-year basis. According to its monthly market activity report, the company’s DARTs were 206,572, up a staggering 44% year over year. Notably, derivatives comprised 31% of DARTs for August.
TD Ameritrade Holding Corporation (AMTD - Free Report) reported average client trades per day of 504,000 in its activity report for August 2017. Though the reported figure is down 2% from the prior-month tally, it increased 19% from the year-ago period.
Interactive Brokers Group, Inc.’s (IBKR - Free Report) Electronic Brokerage segment reported a year-over-year increase in DARTs for August 2017. Total client DARTs were 696,000, up 21% from August 2016 and relatively stable with July 2017. Also, total customer accounts jumped 23% year over year and 3% from the prior month to 448,900.
New Report: An Investor’s Guide to Cybersecurity
Cyberattacks have become more frequent and destructive than ever. In fact, they’re expected to cause $6 trillion per year in damage by 2020.
The cybersecurity industry is expanding quickly in response to these threats. In fact, a projected $170 billion per year will be spent to protect consumer and corporate assets. Zacks has just released Cybersecurity: An Investor’s Guide to Locking Down Profits which reveals 4 promising investment candidates.
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Schwab's (SCHW) August Metrics Indicate Y/Y Improvement
The Charles Schwab Corporation (SCHW - Free Report) released the monthly activity report for August 2017, which shows an improvement over the year-ago period. Total client assets were $3.1 trillion at the end of the month, up 15% year over year.
Further, client assets receiving ongoing advisory services were $1.583 trillion, up 16% year over year. Also, Schwab’s average interest earning assets were $214.5 billion at August end, reflecting 10% increase on a year-over-year basis.
Notably, the company opened 123,000 new brokerage accounts in August, up 28% from the prior-year month. Net new assets, through both existing and new clients totaled $18 billion, surging 73% year over year.
In fact, Schwab’s active brokerage accounts totaled 10.53 million at the end of the month, up 5% from the August 2016 level. The client’s banking accounts at the end of the reported month came in at 1.2 million, rising 8% from the year-ago period. However, the number of retirement plan participants edged down 1% year over year to 1.55 million.
Consequently, shares of the company have increased 1.8% so far this year, as against a 0.5% decline of the industry it belongs to.
Schwab, currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Investment Brokers
E*TRADE Financial Corporation reported a rise in its Daily Average Revenue Trades (DARTs) for August 2017 on a year-over-year basis. According to its monthly market activity report, the company’s DARTs were 206,572, up a staggering 44% year over year. Notably, derivatives comprised 31% of DARTs for August.
TD Ameritrade Holding Corporation (AMTD - Free Report) reported average client trades per day of 504,000 in its activity report for August 2017. Though the reported figure is down 2% from the prior-month tally, it increased 19% from the year-ago period.
Interactive Brokers Group, Inc.’s (IBKR - Free Report) Electronic Brokerage segment reported a year-over-year increase in DARTs for August 2017. Total client DARTs were 696,000, up 21% from August 2016 and relatively stable with July 2017. Also, total customer accounts jumped 23% year over year and 3% from the prior month to 448,900.
New Report: An Investor’s Guide to Cybersecurity
Cyberattacks have become more frequent and destructive than ever. In fact, they’re expected to cause $6 trillion per year in damage by 2020.
The cybersecurity industry is expanding quickly in response to these threats. In fact, a projected $170 billion per year will be spent to protect consumer and corporate assets. Zacks has just released Cybersecurity: An Investor’s Guide to Locking Down Profits which reveals 4 promising investment candidates.
Download the new report now>>