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

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The Charles Schwab Corporation (SCHW - Free Report) released the monthly activity report for October 2017, which shows an improvement from the year-ago period. Total client assets were $3.3 trillion at the end of the month, jumping 21% year over year.

Further, client assets receiving ongoing advisory services were $1.6 trillion, increasing 21% year over year. Also, Schwab’s average interest earning assets were $219.7 billion at October end, reflecting 9% rise on a year-over-year basis.

Notably, the company opened 117,000 new brokerage accounts in October, a surge of 39% from the prior-year month. Net new assets, through both existing and new clients totaled $35.4 billion, increasing significantly from $6.1 billion in October 2016.

In fact, Schwab’s active brokerage accounts totaled 10.6 million at the end of the month, up 5% from the October 2016 level. Client’s banking accounts at the end of the reported month came in at 1.18 million, rising 8% from the year-ago period. Also, the number of retirement plan participants inched up 1% year over year to 1.56 million.

Consequently, shares of the company have rallied 12.9% so far this year, outperforming 7.1% rise for the industry.



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 October 2017 on a year-over-year basis. According to its monthly market activity report, the company’s DARTs were 215,689, rising 28% 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 680,000 in its activity report for October 2017. The reported figure was up 19% from the prior-month tally and 55% 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 October 2017. Total client DARTs came in at 698,000, up 16% from both October 2016 and September 2017. Also, total customer accounts jumped 24% year over year and 2% from the prior month to 465,000.

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