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Charles Schwab (SCHW) January Metrics Record Stable Results

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The Charles Schwab Corporation SCHW has released the monthly activity report for January 2020, which shows decent results compared with the prior month. Net new assets of $20.9 billion plunged 31% from the previous month. Nonetheless, it improved 38% year over year.

Total client assets came in at $4.1 trillion, in line with the prior month but up 18% from the year-ago month. Client assets receiving ongoing advisory services were $2.11 trillion, in line with the prior month but up 17% year over year.  

Schwab’s average interest earning assets were $279.4 billion at the end of January, up 2% from December 2019 and 1% from January 2019. The company opened 167,000 new brokerage accounts in the reported month, up 2% sequentially and 27% year on year.

Schwab’s active brokerage accounts totaled 12.4 million at the end of January, up 1% sequentially and 7% from the year-ago month. Further, client’s banking accounts were 1.4 million, rising 1% from December 2019 and 7% from January 2019. The number of retirement-plan participants was down 1% from the prior-month level but up 3% year on year to 1.7 million.

Shares of the company appreciated 25.3% over the last six months compared with 22.3% growth 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 of Other Investment Brokers

E*TRADE Financial ETFC has also 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, jumping 31% from the previous month and 68% year over year. Notably, derivatives comprised 33% of DARTs in January.

Interactive Brokers Group, Inc. (IBKR - Free Report) has released its Electronic Brokerage segment’s performance metrics for January. 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.

Upcoming Release

LPL Financial Holdings Inc. LPLA is likely to report monthly metrics information soon.

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