We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
E*TRADE's (ETFC) January 2020 DARTs Rise 31% From December
Read MoreHide Full Article
E*TRADE Financial has reported a rise in Daily Average Revenue Trades (DARTs) for January. According to its monthly-market activity, the company’s DARTs came in at 463,739, up 31% from the previous month and 68% year over year. Notably, derivatives comprised 33% of DARTs in January.
Broker performance is generally measured through DARTs that represent the number of trades from which brokers can expect commission or fees. The rise in DARTs largely reflects investors’ willingness to invest in equity markets.
At the end of the reported month, E*TRADE’s total number of accounts were approximately 7.3 million, comprising about 5.2 million retail accounts, 1.9 million corporate services accounts, and 0.2 million advisor services accounts.
E*TRADE’s total accounts included 40,008 net new accounts for January. Total number of brokerage accounts highlights the company’s ability to gain and retain customers who trade and invest.
Moreover, E*TRADE’s net new retail assets came in at $2.6 billion compared with the $2.7 billion reported in the last month. There were no net new advisor service assets.
At the end of January, E*TRADE’s customer security holdings were $315.1 billion, up from the $310.7 billion reported in December. The company’s brokerage-related cash came in at $72.3 billion compared with the previous month’s $71 billion. In addition, bank-related cash and deposits for the company totaled $2.2 billion, down from the $6.4 billion recorded in December 2019.
Peer Performance
Interactive Brokers Group, Inc. (IBKR - Free Report) recently released its Electronic Brokerage segment’s performance metrics for January 2020. Total client DARTs were 1,019,000, up 32% from December 2019 and 20% from January 2019. On an annualized basis, the company recorded Cleared Average DARTs per customer accounts of 329,000. This reflects a rise of 30% sequentially and 3% year over year.
Among others, The Charles Schwab Corporation (SCHW - Free Report) and LPL Financial Holdings Inc. (LPLA - Free Report) will likely release their January monthly activity reports soon.
Our Viewpoint
Though the uncertain macroeconomic environment might result in lesser trading activities, growth in DARTs and new brokerage accounts will prove beneficial for the company.
The company’s shares have gained around nearly 9.8%, in the last six months, compared with 26.3% growth recorded by the industry.
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Image: Bigstock
E*TRADE's (ETFC) January 2020 DARTs Rise 31% From December
E*TRADE Financial has reported a rise in Daily Average Revenue Trades (DARTs) for January. According to its monthly-market activity, the company’s DARTs came in at 463,739, up 31% from the previous month and 68% year over year. Notably, derivatives comprised 33% of DARTs in January.
Broker performance is generally measured through DARTs that represent the number of trades from which brokers can expect commission or fees. The rise in DARTs largely reflects investors’ willingness to invest in equity markets.
At the end of the reported month, E*TRADE’s total number of accounts were approximately 7.3 million, comprising about 5.2 million retail accounts, 1.9 million corporate services accounts, and 0.2 million advisor services accounts.
E*TRADE’s total accounts included 40,008 net new accounts for January. Total number of brokerage accounts highlights the company’s ability to gain and retain customers who trade and invest.
Moreover, E*TRADE’s net new retail assets came in at $2.6 billion compared with the $2.7 billion reported in the last month. There were no net new advisor service assets.
At the end of January, E*TRADE’s customer security holdings were $315.1 billion, up from the $310.7 billion reported in December. The company’s brokerage-related cash came in at $72.3 billion compared with the previous month’s $71 billion. In addition, bank-related cash and deposits for the company totaled $2.2 billion, down from the $6.4 billion recorded in December 2019.
Peer Performance
Interactive Brokers Group, Inc. (IBKR - Free Report) recently released its Electronic Brokerage segment’s performance metrics for January 2020. Total client DARTs were 1,019,000, up 32% from December 2019 and 20% from January 2019. On an annualized basis, the company recorded Cleared Average DARTs per customer accounts of 329,000. This reflects a rise of 30% sequentially and 3% year over year.
Among others, The Charles Schwab Corporation (SCHW - Free Report) and LPL Financial Holdings Inc. (LPLA - Free Report) will likely release their January monthly activity reports soon.
Our Viewpoint
Though the uncertain macroeconomic environment might result in lesser trading activities, growth in DARTs and new brokerage accounts will prove beneficial for the company.
The company’s shares have gained around nearly 9.8%, in the last six months, compared with 26.3% growth recorded by the industry.
E*TRADE currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>