Schwab's (SCHW) April Metrics Indicate Y/Y Improvement

The Charles Schwab Corporation (NYSE:SCHW) released monthly activity report for Apr 2017, which shows an improvement over the year-ago period. Total client assets were $2.95 trillion at the end of the month, up 14% year over year.

Further, client assets receiving ongoing advisory services were $1.50 trillion, up 16% year over year. Also, Schwab’s average interest earning assets were $217.4 billion at April end, reflecting 19% increase on a year-over-year basis.

Schwab opened 125,000 new brokerage accounts in February, up 21% from the prior-year month. However, net new assets, through both existing and new clients totaled $2.8 billion, surging 115% year over year.

Schwab’s active brokerage accounts totaled $10.39 million at the end of the month, up 5% from the Apr 2016 level. The client’s banking accounts at the end of the reported month came in at 1.1 million, growing 7% from the year-ago period. Further, the number of retirement plan participants rose 1% year over year to 1.54 million.

With Schwab slashing trading fees, a further rise in brokerage accounts and client assets is expected, going forward. Shares of the company increased 8% in the last six months, outperforming the 3.8% gain of 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 (NASDAQ:ETFC) reported a rise in its Daily Average Revenue Trades (DARTs) for Apr 2017. According to its monthly market activity, the company’s DARTs were 196,022, up 23% year over year.

TD Ameritrade Holding Corporation (NASDAQ:AMTD) came up with average client trades per day of 502,000 in its activity report for Apr 2017. The reported figure increased 7% from the prior-year month.

Interactive Brokers Group, Inc.’s (NASDAQ:IBKR) total client DARTs were 645,000 for Apr 2017, down 3% from Apr 2016. However, total customer accounts were 398,000, up 18% year over year.

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E*TRADE Financial Corporation (ETFC): Free Stock Analysis Report

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