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

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The Charles Schwab CorporationSCHW released monthly activity report for Feb 2017, which shows an improvement over the year-ago period. Total client assets were $2.9 trillion at the end of the month, up 19% year over year.

Further, client assets receiving ongoing advisory services were $1.466.9 trillion, up 20% year over year. Also, Schwab's average interest earning assets were $216.1 billion at February end, reflecting 21% increase on a year-over-year basis.

Schwab opened 113,000 new brokerage accounts in February, up 35% from the prior-year month. However, net new assets, through both existing and new clients totaled $6.6 billion, down 39% year over year.

Schwab's active brokerage accounts totaled $10.25 million at the end of the month, up 4% from the Feb-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 was 1.53 million, which rose 1% year over year.

With Schwab slashing trading fees, a further rise in brokerage accounts and client assets is expected, going forward. Shares of the company increased 39.8% in the last six months, marginally underperforming the 40.8% 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 ETFC reported a rise in its Daily Average Revenue Trades (DARTs) for Feb 2017. According to its monthly market activity, the company's DARTs were 218,964, up 9% from the prior month and 33% year over year.

TD Ameritrade Holding Corporation AMTD came up with average client trades per day of 534,000 in its activity report for Feb 2017. The reported figure increased 2% from the prior month and 5% from the year-ago period.

Interactive Brokers Group, Inc.'s IBKR total client DARTs were 678,000 for Feb 2017, down 12% from Feb 2016 but up 5% from Jan 2017. Also, total customer accounts were 398,000, up 17% year over year and 2% from the prior month.

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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.

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