Charles Schwab (SCHW) August Metrics Record Sequential Fall

The Charles Schwab Corporation (NYSE:SCHW) has released the monthly activity report for August 2019, which shows decline from the prior month. Total client assets came in at $3.7 trillion, down 1% from the prior month but up 5% from the year-ago month.

Client assets receiving ongoing advisory services were $1.95 trillion, marginally down sequentially but up 5.4% year over year. Net new assets of $19.9 billion improved 3% from the previous month. Nonetheless, it declined 4% year over year.

Schwab’s average interest earning assets were $265 billion at the end of August, relatively on par with the July 2019 level and up 2% from August 2018. The company opened 126,000 new brokerage accounts in the reported month, down 2% sequentially and 5% year over year.

Schwab’s active brokerage accounts totaled 12.1 million at the end of August, relatively stable sequentially, and up 7% from the year-ago month. Further, client’s banking accounts were 1.4 million, rising 1% from July 2019 and 7% from August 2018. The number of retirement plan participants was up 1% from the prior-month level and 6% year over year at 1.7 million.

Shares of the company increased 5% year to date compared with the 13.3% 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

Interactive Brokers Group, Inc.’s (NYSE:IBKR) Electronic Brokerage segment reported a sequential increase in Daily Average Revenue Trades (DARTs) for August 2019. Total client DARTs were 930,000, up 16% from July 2019 and 26% from August 2018. Total customer accounts inched up 1% from the prior month and 17% from the prior-year month to 659,500.

E*TRADE Financial (NASDAQ:ETFC) has reported a rise in DARTs for August. According to its monthly market activity, the company’s DARTs came in at 284,828, up 12% from the previous month and 12% year over year. Notably, derivatives comprised 35% of DARTs in August.

Upcoming Release

LPL Financial Holdings Inc. (NASDAQ:LPLA) is likely to report monthly metrics information soon.

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