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Schwab's (SCHW) Metrics Indicate Improvement in May
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The Charles Schwab Corporation’s (SCHW - Free Report) monthly activity report for May 2017 shows an improvement over the year-ago period. Total client assets were $3 trillion at the end of the month, reflecting an increase of 15%.
Further, client assets receiving ongoing advisory services were $1.52 trillion, up 17% year over year. Also, Schwab’s average interest earning assets were $215.3 billion at the end of May, reflecting 17% increase on a year-over-year basis.
Schwab opened 115,000 new brokerage accounts in May, up 42% from the prior-year month. Net new assets, through both existing and new clients totaled $24 billion, surging 50% year over year.
Schwab’s active brokerage accounts totaled 10.44 million at the end of the month, up 5% from the May 2016 level. The client’s banking accounts at the end of the reported month came in at 1.14 million, increasing 7% from the year-ago period. However, the number of retirement plan participants declined 1% year over year to 1.54 million.
With Schwab slashing trading fees, a further rise in brokerage accounts and client assets is expected. Shares of the company increased 8.9% in the last six months compared with a decline of 1.8% for the Zacks categorized Investment Brokers industry.
Among other brokerage stocks, E*TRADE Financial Corporation reported an increase in its Daily Average Revenue Trades (DARTs) for May 2017. The company’s DARTs were 211,516, surging 42% year over year.
TD Ameritrade Holding Corporation (AMTD - Free Report) reported average client trades per day of 514,000 in its activity report for May 2017. The reported figure was up 16% from the year-ago period.
Interactive Brokers Group, Inc.’s (IBKR - Free Report) total client DARTs for May 2017 were 675,000, up 5% from May 2016. Also, total customer accounts increased 19% year over year to 418,000.
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By last year, it was already generating $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for those who make the right trades early. See Zacks' Top 3 Stocks to Ride This Space >>
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Schwab's (SCHW) Metrics Indicate Improvement in May
The Charles Schwab Corporation’s (SCHW - Free Report) monthly activity report for May 2017 shows an improvement over the year-ago period. Total client assets were $3 trillion at the end of the month, reflecting an increase of 15%.
Further, client assets receiving ongoing advisory services were $1.52 trillion, up 17% year over year. Also, Schwab’s average interest earning assets were $215.3 billion at the end of May, reflecting 17% increase on a year-over-year basis.
Schwab opened 115,000 new brokerage accounts in May, up 42% from the prior-year month. Net new assets, through both existing and new clients totaled $24 billion, surging 50% year over year.
Schwab’s active brokerage accounts totaled 10.44 million at the end of the month, up 5% from the May 2016 level. The client’s banking accounts at the end of the reported month came in at 1.14 million, increasing 7% from the year-ago period. However, the number of retirement plan participants declined 1% year over year to 1.54 million.
With Schwab slashing trading fees, a further rise in brokerage accounts and client assets is expected. Shares of the company increased 8.9% in the last six months compared with a decline of 1.8% for the Zacks categorized Investment Brokers 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.
Among other brokerage stocks, E*TRADE Financial Corporation reported an increase in its Daily Average Revenue Trades (DARTs) for May 2017. The company’s DARTs were 211,516, surging 42% year over year.
TD Ameritrade Holding Corporation (AMTD - Free Report) reported average client trades per day of 514,000 in its activity report for May 2017. The reported figure was up 16% from the year-ago period.
Interactive Brokers Group, Inc.’s (IBKR - Free Report) total client DARTs for May 2017 were 675,000, up 5% from May 2016. Also, total customer accounts increased 19% year over year to 418,000.
3 Stocks to Ride a 588% Revenue Explosion
At Zacks, we're mostly focused on short-term profit cycles, but the hottest of all technology mega-trends is starting to take hold...
By last year, it was already generating $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for those who make the right trades early. See Zacks' Top 3 Stocks to Ride This Space >>