The Charles Schwab Corporation’s (SCHW - Free Report) monthly activity for April 2018 reflects year-over-year improvement. Total client assets were $3.3 trillion at the end of the month, jumping 12% on a year-over-year basis.
Further, client assets receiving ongoing advisory services were $1.7 trillion, up 15% year over year. Also, Schwab’s average interest earning assets were $239.8 billion at April-end, improving 10% from the prior-year month’s level.
Notably, the company opened 141,000 new brokerage accounts in April, a jump of 13% from the prior-year month. Net new assets, through existing and new clients, totaled $9.9 billion, excluding outflows of $9.5 billion from certain mutual fund clearing services clients.
In fact, Schwab’s active brokerage accounts totaled 11.1 million at the end of the month, up 7% from the April 2017 level. Client’s banking accounts at the end of the reported month were 1.23 million, rising 9% from the year-ago period’s tally. Also, the number of retirement plan participants increased 4% year over year to 1.60 million.
Consequently, the stock has rallied 32.1% in the last six months, outperforming 16.4% growth of the industry.
Schwab 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 reported a rise in Daily Average Revenue Trades (DARTs) in April 2018 on a year-over-year basis. According to its monthly market activity, the company’s DARTs came in at 249,939, up 28% year over year. Notably, derivatives comprised 35% of DARTs in April.
Interactive Brokers Group’s (IBKR - Free Report) Electronic Brokerage segment reported year-over-year increase in DARTs for April 2018. The segment deals with clearance and settlement of trades for individual and institutional clients globally. Total client DARTs were 812,000, up 26% from April 2017.
LPL Financial Holdings (LPLA - Free Report) is likely to report monthly activity for April in a few days.
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The Charles Schwab Corporation’s (SCHW - Free Report) monthly activity for April 2018 reflects year-over-year improvement. Total client assets were $3.3 trillion at the end of the month, jumping 12% on a year-over-year basis.
Further, client assets receiving ongoing advisory services were $1.7 trillion, up 15% year over year. Also, Schwab’s average interest earning assets were $239.8 billion at April-end, improving 10% from the prior-year month’s level.
Notably, the company opened 141,000 new brokerage accounts in April, a jump of 13% from the prior-year month. Net new assets, through existing and new clients, totaled $9.9 billion, excluding outflows of $9.5 billion from certain mutual fund clearing services clients.
In fact, Schwab’s active brokerage accounts totaled 11.1 million at the end of the month, up 7% from the April 2017 level. Client’s banking accounts at the end of the reported month were 1.23 million, rising 9% from the year-ago period’s tally. Also, the number of retirement plan participants increased 4% year over year to 1.60 million.
Consequently, the stock has rallied 32.1% in the last six months, outperforming 16.4% growth of the industry.
Schwab 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 reported a rise in Daily Average Revenue Trades (DARTs) in April 2018 on a year-over-year basis. According to its monthly market activity, the company’s DARTs came in at 249,939, up 28% year over year. Notably, derivatives comprised 35% of DARTs in April.
Interactive Brokers Group’s (IBKR - Free Report) Electronic Brokerage segment reported year-over-year increase in DARTs for April 2018. The segment deals with clearance and settlement of trades for individual and institutional clients globally. Total client DARTs were 812,000, up 26% from April 2017.
LPL Financial Holdings (LPLA - Free Report) is likely to report monthly activity for April in a few days.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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