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Schwab (SCHW) Witnesses Y/Y Improvement in July Metrics
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The Charles Schwab Corporation’s (SCHW - Free Report) monthly activity for July 2018 reflects year-over-year rise. Total client assets came in at $3.5 trillion at the end of the month, increasing 12% from the year-ago month.
Further, client assets receiving ongoing advisory services were $1.8 trillion, up 15% year over year. Also, Schwab’s average interest earning assets came in at $254.2 billion at the end of July, improving 20% from the prior-year period.
Notably, the company opened 118,000 new brokerage accounts this July, marking a 10% year-over-year rise. Net new assets, through existing and new clients, totaled $16.3 billion, up 3% year over year.
Schwab’s active brokerage accounts totaled 11.2 million at the end of the month, up 7% from the July 2017 level. Client’s banking accounts at the end of the reported month were 1.3 million, rising 9% from the year-ago tally. Additionally, the number of retirement plan participants rose 5% year over year to 1.6 million.
Consequently, the stock has rallied 26.7% in the past year, significantly outperforming 14% growth of the industry.
Greenhill & Co., Inc.’s Zacks Consensus Estimate for full-year 2018 earnings has been revised 4.1% upward, in the last 30 days. In addition, its share price has surged 92.8% in the past year. Currently, the stock flaunts a Zacks Rank of 1.
JMP Group LLC also sports a Zacks Rank of 1, at present. The stock’s current-year earnings estimates moved 54.5% north, in the last 30 days. Furthermore, the company’s shares have gained 1.5% in a year’s time.
The Zacks Consensus Estimate for LPL Financial Holdings Inc.’s (LPLA - Free Report) 2018 earnings climbed 4.7%, in a month’s time. In the past year, shares of this Zacks #2 Ranked (Buy) company have appreciated around 42.2%.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
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Schwab (SCHW) Witnesses Y/Y Improvement in July Metrics
The Charles Schwab Corporation’s (SCHW - Free Report) monthly activity for July 2018 reflects year-over-year rise. Total client assets came in at $3.5 trillion at the end of the month, increasing 12% from the year-ago month.
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Further, client assets receiving ongoing advisory services were $1.8 trillion, up 15% year over year. Also, Schwab’s average interest earning assets came in at $254.2 billion at the end of July, improving 20% from the prior-year period.
Notably, the company opened 118,000 new brokerage accounts this July, marking a 10% year-over-year rise. Net new assets, through existing and new clients, totaled $16.3 billion, up 3% year over year.
Schwab’s active brokerage accounts totaled 11.2 million at the end of the month, up 7% from the July 2017 level. Client’s banking accounts at the end of the reported month were 1.3 million, rising 9% from the year-ago tally. Additionally, the number of retirement plan participants rose 5% year over year to 1.6 million.
Consequently, the stock has rallied 26.7% in the past year, significantly outperforming 14% growth of 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.
Stocks to Consider
Greenhill & Co., Inc.’s Zacks Consensus Estimate for full-year 2018 earnings has been revised 4.1% upward, in the last 30 days. In addition, its share price has surged 92.8% in the past year. Currently, the stock flaunts a Zacks Rank of 1.
JMP Group LLC also sports a Zacks Rank of 1, at present. The stock’s current-year earnings estimates moved 54.5% north, in the last 30 days. Furthermore, the company’s shares have gained 1.5% in a year’s time.
The Zacks Consensus Estimate for LPL Financial Holdings Inc.’s (LPLA - Free Report) 2018 earnings climbed 4.7%, in a month’s time. In the past year, shares of this Zacks #2 Ranked (Buy) company have appreciated around 42.2%.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>