Markets

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

The Charles Schwab CorporationSCHW released the monthly activity report for August 2017, which shows an improvement over the year-ago period. Total client assets were $3.1 trillion at the end of the month, up 15% year over year.

Further, client assets receiving ongoing advisory services were $1.583 trillion, up 16% year over year. Also, Schwab's average interest earning assets were $214.5 billion at August end, reflecting 10% increase on a year-over-year basis.

Notably, the company opened 123,000 new brokerage accounts in August, up 28% from the prior-year month. Net new assets, through both existing and new clients totaled $18 billion, surging 73% year over year.

In fact, Schwab's active brokerage accounts totaled 10.53 million at the end of the month, up 5% from the August 2016 level. The client's banking accounts at the end of the reported month came in at 1.2 million, rising 8% from the year-ago period. However, the number of retirement plan participants edged down 1% year over year to 1.55 million.

Consequently, shares of the company have increased 1.8% so far this year, as against a 0.5% decline of the industry it belongs to.

Schwab, currently 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

E*TRADE Financial Corporation ETFC reported a rise in its Daily Average Revenue Trades (DARTs) for August 2017 on a year-over-year basis. According to its monthly market activity report, the company's DARTs were 206,572, up a staggering 44% year over year. Notably, derivatives comprised 31% of DARTs for August.

TD Ameritrade Holding Corporation AMTD reported average client trades per day of 504,000 in its activity report for August 2017. Though the reported figure is down 2% from the prior-month tally, it increased 19% from the year-ago period.

Interactive Brokers Group, Inc.'s IBKR Electronic Brokerage segment reported a year-over-year increase in DARTs for August 2017. Total client DARTs were 696,000, up 21% from August 2016 and relatively stable with July 2017. Also, total customer accounts jumped 23% year over year and 3% from the prior month to 448,900.

New Report: An Investor's Guide to Cybersecurity

Cyberattacks have become more frequent and destructive than ever. In fact, they're expected to cause $6 trillion per year in damage by 2020.

The cybersecurity industry is expanding quickly in response to these threats. In fact, a projected $170 billion per year will be spent to protect consumer and corporate assets. Zacks has just released Cybersecurity: An Investor's Guide to Locking Down Profits which reveals 4 promising investment candidates.

Download the new report now>>

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

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

AMTD SCHW ETFC IBKR

Other Topics

Stocks