Charles Schwab (SCHW - Free Report) reported monthly activity report for April 2020. The company recorded net new assets of $15.3 billion, down 45% from the previous month. In the prior-year month, net new assets were an outflow of $0.3 billion.
Total client assets were $3.78 trillion, up 8% from March 2020 and 3% year over year. Client assets receiving ongoing advisory services were $1.96 trillion, up 7% from the prior month and 2% year over year.
Schwab’s average interest earning assets were $353 billion at the end of April 2020, up 11% from March 2020 and 31% from April 2019. The company opened 201,000 new brokerage accounts in the reported month, down 29% sequentially but up 37% year on year.
Schwab’s active brokerage accounts totaled 12.9 million at the end of April, up 1% sequentially and 8% from the year-ago month. Further, clients’ banking accounts were 1.4 million, rising 1% from March 2020 and 10% from April 2019. The number of retirement-plan participants declined 1% from the prior-month level but remained almost stable year on year at 1.7 million.
Driven by continued volatility resulting from the coronavirus outbreak, Schwab reported impressive growth in assets in April 2020. Notably, its initiatives to augment trading revenues remain impressive. Amid the Federal Reserve’s accommodative policy stance, the company’s top line is expected to get support from its inorganic growth efforts.
Shares of the company have lost 29.8% so far this year compared with 25.5% decline recorded by the industry.
Currently, Schwab carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance & Upcoming Releases of Other Brokers
E*TRADE Financial reported a rise in Daily Average Revenue Trades (DARTs) for April 2020. The company’s DARTs came in at 927,671, up 3% from the previous month and more than 200% year over year. Notably, derivatives comprised 25% of DARTs in the reported month.
Interactive Brokers Group’s (IBKR - Free Report) Electronic Brokerage segment reported a substantial surge in DARTs in April 2020 on a year-over-year basis. Total client DARTs were 1,720,000, surging 121% from April 2019 but declining 12% from March 2020.
LPL Financial Holdings Inc. (LPLA - Free Report) is expected to report monthly metrics information in the coming days.
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Charles Schwab (SCHW - Free Report) reported monthly activity report for April 2020. The company recorded net new assets of $15.3 billion, down 45% from the previous month. In the prior-year month, net new assets were an outflow of $0.3 billion.
Total client assets were $3.78 trillion, up 8% from March 2020 and 3% year over year. Client assets receiving ongoing advisory services were $1.96 trillion, up 7% from the prior month and 2% year over year.
Schwab’s average interest earning assets were $353 billion at the end of April 2020, up 11% from March 2020 and 31% from April 2019. The company opened 201,000 new brokerage accounts in the reported month, down 29% sequentially but up 37% year on year.
Schwab’s active brokerage accounts totaled 12.9 million at the end of April, up 1% sequentially and 8% from the year-ago month. Further, clients’ banking accounts were 1.4 million, rising 1% from March 2020 and 10% from April 2019. The number of retirement-plan participants declined 1% from the prior-month level but remained almost stable year on year at 1.7 million.
Driven by continued volatility resulting from the coronavirus outbreak, Schwab reported impressive growth in assets in April 2020. Notably, its initiatives to augment trading revenues remain impressive. Amid the Federal Reserve’s accommodative policy stance, the company’s top line is expected to get support from its inorganic growth efforts.
Shares of the company have lost 29.8% so far this year compared with 25.5% decline recorded by the industry.
Currently, Schwab carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance & Upcoming Releases of Other Brokers
E*TRADE Financial reported a rise in Daily Average Revenue Trades (DARTs) for April 2020. The company’s DARTs came in at 927,671, up 3% from the previous month and more than 200% year over year. Notably, derivatives comprised 25% of DARTs in the reported month.
Interactive Brokers Group’s (IBKR - Free Report) Electronic Brokerage segment reported a substantial surge in DARTs in April 2020 on a year-over-year basis. Total client DARTs were 1,720,000, surging 121% from April 2019 but declining 12% from March 2020.
LPL Financial Holdings Inc. (LPLA - Free Report) is expected to report monthly metrics information in the coming days.
Zacks Top 10 Stocks for 2020
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2020?
Last year's 2019 Zacks Top 10 Stocks portfolio returned gains as high as +102.7%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
Access Zacks Top 10 Stocks for 2020 today >>
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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