Interactive Brokers Group, Inc. IBKR has released the Electronic Brokerage segment’s performance metrics for July 2024. The segment deals with the clearance and settlement of trades for individual and institutional clients globally. It reported a rise in client Daily Average Revenue Trades (DARTs).
Total client DARTs for July were 2,756,000, which increased 38.4% from July 2023 and 11.6% from last month.
On an annualized basis, the Cleared Average DARTs per customer account was 206 for July 2024. The metric increased 6.7% on a year-over-year basis and 8.4% from June 2024.
IBKR’s total customer accounts rose 28.7% from the prior-year month and 2.4% from the last month to 3 million. Net new accounts were 71,400, witnessing a surge of 96.7% from July 2023 and a sequential rise of 18.8%.
Interactive Brokers’ total options contracts were 118.6 million in July 2024, up 50.7% year over year and 20% sequentially. Future contracts rose 36.6% year over year and 21.2% from June to 19 million.
At the end of July 2024, client equity was $509.5 billion, which grew 31.9% year over year and 2.5% from the last month. IBKR recorded client credit balances of $109.2 billion, up 10.5% from July 2023 and 2% from the June 2024 level. The company's customer margin loan balance of $56.1 billion increased 29.9% from the year-ago month and 1.8% from the last month.
In the past three months, shares of Interactive Brokers have surged 34.4%.
Interactive Brokers Group, Inc. Price
Interactive Brokers Group, Inc. price | Interactive Brokers Group, Inc. Quote
Currently, IBKR carries a Zacks Rank #1 (Strong Buy).
Two other brokerage firms, The Charles Schwab Corporation SCHW and LPL Financial Holdings Inc. LPLA, will come out with the companies’ monthly performances in the coming days.
The Zacks Consensus Estimate for SCHW’s 2024 earnings per share has been revised 4.9% downward in the past 30 days. The consensus estimate for LPLA’s 2024 earnings per share has moved 1% north in the past week.
At present, SCHW carries a Zacks Rank #5 (Strong Sell) while LPLA has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.
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