Yahoo Finance Schwab (SCHW) Stock Up 2.4% as January Metrics Improve Y/Y
Shares of The Charles Schwab Corporation SCHW rose 2.4% following the release the monthly activity report for January 2018, which shows an improvement from the year-ago period. Total client assets were $3.5 trillion at the end of the month, jumping 23% year over year.
Further, client assets receiving ongoing advisory services were $1.8 trillion, increasing 23% year over year. Also, Schwab’s average interest earning assets were $234.6 billion at January end, reflecting 9% rise from the prior-year month.
Notably, the company opened 165,000 new brokerage accounts in January, a surge of 49% from the prior-year month. Net new assets, through both existing and new clients totaled $11.5 billion, increasing 4% from January 2017 level.
In fact, Schwab’s active brokerage accounts totaled 10.9 million at the end of the month, up 6% from the January 2017 level. Client’s banking accounts at the end of the reported month were 1.21 million, rising 9% from the year-ago period. Also, the number of retirement plan participants inched up 2% year over year to 1.58 million.
Consequently, shares of the company have rallied 28.6% over the last six months, outperforming 19.2% gain for the industry.
Schwab carries a Zacks Rank #2 (Buy). 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 reported a rise in Daily Average Revenue Trades (DARTs) for January 2018. According to its monthly market activity, the company’s DARTs came in at 315,572, up 29% from the prior month and 57% year over year. Notably, derivatives comprised 30% of DARTs in January.
Interactive Brokers Group, Inc.’s IBKR Electronic Brokerage segment reported a year-over-year increase in DARTs for January 2018. Total client DARTs came in at 903,000, surging 40% from January 2017 and 29% from December 2017. Total customer accounts jumped 27% year over year and 3% from the prior month to 496,700 in the reported month.
Other brokerage firm, TD Ameritrade Holding Corporation AMTD is likely to announce its monthly metrics information within a few days.
The Hottest Tech Mega-Trend of All
Last year, it generated $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 regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
E*TRADE Financial Corporation (ETFC) : Free Stock Analysis Report
The Charles Schwab Corporation (SCHW) : Free Stock Analysis Report
Interactive Brokers Group, Inc. (IBKR) : Free Stock Analysis Report
TD Ameritrade Holding Corporation (AMTD) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
