Shares of Charles Schwab (SCHW - Free Report) gained 1.6% following the release of its monthly activity report for April 2019. Total client assets came in at $3.7 trillion, up 11% from the year-ago month and 2% from the prior month.
Client assets receiving ongoing advisory services were $1.913.7 trillion, up 11% year over year and 2% sequentially. Schwab’s average interest earning assets were $270.3 billion at the end of April, improving 13% year over year but declining 1% from March 2019.
New brokerage accounts opened by the company in April 2019 were up 4% year over year and 5% sequentially to 147,000.
Schwab’s active brokerage accounts totaled 11.9 million at the end of April, up 7% from the year-ago month and 1% from March 2019. Further, client’s banking accounts were 1.3 million, rising 7% from April 2018 and 1% sequentially. The number of retirement plan participants rose 6% year over year and were stable on a sequential basis at 1.7 million.
Shares of Schwab have rallied 6.7% so far this year, underperforming 8% 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 reported monthly market activity for April 2019. Daily Average Revenue Trades (DARTs) for the month were 272,858, down 5% from the previous month but up 13% year over year. Derivatives comprised 32% of DARTs in April.
Interactive Brokers Group, Inc. (IBKR - Free Report) released its Electronic Brokerage segment’s performance metrics for April. The segment, which deals with the clearance and settlement of trades for individual and institutional clients globally, reported a year-over-year and sequential decrease in DARTs. Total client DARTs were 778,000, down 4% from April 2018 and 10% from March 2019.
Upcoming Release
LPL Financial Holdings (LPLA - Free Report) is likely to report monthly activity for April soon.
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Shares of Charles Schwab (SCHW - Free Report) gained 1.6% following the release of its monthly activity report for April 2019. Total client assets came in at $3.7 trillion, up 11% from the year-ago month and 2% from the prior month.
Client assets receiving ongoing advisory services were $1.913.7 trillion, up 11% year over year and 2% sequentially. Schwab’s average interest earning assets were $270.3 billion at the end of April, improving 13% year over year but declining 1% from March 2019.
New brokerage accounts opened by the company in April 2019 were up 4% year over year and 5% sequentially to 147,000.
Schwab’s active brokerage accounts totaled 11.9 million at the end of April, up 7% from the year-ago month and 1% from March 2019. Further, client’s banking accounts were 1.3 million, rising 7% from April 2018 and 1% sequentially. The number of retirement plan participants rose 6% year over year and were stable on a sequential basis at 1.7 million.
Shares of Schwab have rallied 6.7% so far this year, underperforming 8% 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 reported monthly market activity for April 2019. Daily Average Revenue Trades (DARTs) for the month were 272,858, down 5% from the previous month but up 13% year over year. Derivatives comprised 32% of DARTs in April.
Interactive Brokers Group, Inc. (IBKR - Free Report) released its Electronic Brokerage segment’s performance metrics for April. The segment, which deals with the clearance and settlement of trades for individual and institutional clients globally, reported a year-over-year and sequential decrease in DARTs. Total client DARTs were 778,000, down 4% from April 2018 and 10% from March 2019.
Upcoming Release
LPL Financial Holdings (LPLA - Free Report) is likely to report monthly activity for April soon.
Will you retire a millionaire?
One out of every six people retires a multimillionaire. Get smart tips you can do today to become one of them in a new Special Report, “7 Things You Can Do Now to Retire a Multimillionaire.”
Click to get it free >>
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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