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Schwab (SCHW) Witnesses Y/Y Improvement in July Metrics

Zacks Equity Research
Updated

The Charles Schwab Corporation’s SCHW monthly activity for July 2018 reflects year-over-year rise. Total client assets came in at $3.5 trillion at the end of the month, increasing 12% from the year-ago month.

Further, client assets receiving ongoing advisory services were $1.8 trillion, up 15% year over year. Also, Schwab’s average interest earning assets came in at $254.2 billion at the end of July, improving 20% from the prior-year period.
 
Notably, the company opened 118,000 new brokerage accounts this July, marking a 10% year-over-year rise. Net new assets, through existing and new clients, totaled $16.3 billion, up 3% year over year.

Schwab’s active brokerage accounts totaled 11.2 million at the end of the month, up 7% from the July 2017 level. Client’s banking accounts at the end of the reported month were 1.3 million, rising 9% from the year-ago tally. Additionally, the number of retirement plan participants rose 5% year over year to 1.6 million.

Consequently, the stock has rallied 26.7% in the past year, significantly outperforming 14% growth of the industry.



Schwab currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Stocks to Consider

Greenhill & Co., Inc.’s GHL Zacks Consensus Estimate for full-year 2018 earnings has been revised 4.1% upward, in the last 30 days. In addition, its share price has surged 92.8% in the past year. Currently, the stock flaunts a Zacks Rank of 1.

JMP Group LLC JMP also sports a Zacks Rank of 1, at present. The stock’s current-year earnings estimates moved 54.5% north, in the last 30 days. Furthermore, the company’s shares have gained 1.5% in a year’s time.

The Zacks Consensus Estimate for LPL Financial Holdings Inc.’s LPLA 2018 earnings climbed 4.7%, in a month’s time. In the past year, shares of this Zacks #2 Ranked (Buy) company have appreciated around 42.2%.

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The Charles Schwab Corporation (SCHW) : Free Stock Analysis Report
 
Greenhill & Co., Inc. (GHL) : Free Stock Analysis Report
 
JMP Group LLC (JMP) : Free Stock Analysis Report
 
LPL Financial Holdings Inc. (LPLA) : Free Stock Analysis Report
 
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