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Schwab's (SCHW) January Metrics Show Y/Y Improvement

The Charles Schwab CorporationSCHW released monthly activity report for Jan 2017, which shows an improvement over the year-ago period. Total client assets were $2.83 trillion at the end of the month, up 17% year over year. Further, client assets receiving ongoing advisory services were $1.43 trillion, up 17% year over year.

Also, average interest earning assets were approximately $216 billion at January end, reflecting 22% surge on a year-over-year basis.

Schwab opened 111,000 new brokerage accounts in Jan 2017, up 34% from the prior-year month. Moreover, net new assets, through both existing and new clients totaled $11.1 billion, up 37% year over year.

Additionally, the company's active brokerage accounts totaled $10.20 million at the end of the month, up 4% from the Jan 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 1.54 million, which increased 2% year over year.

Shares of the company have gained 80.9% in a year's time, outperforming the 71.6% growth 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 others, E*TRADE Financial Corporation ETFC reported a rise in its Daily Average Revenue Trades (DARTs) for Jan 2017. According to its monthly market activity, the company's DARTs were 201,464, up 8% from the prior month and 15% year over year.

TD Ameritrade Holding Corporation AMTD came up with average client trades per day of 521,000 in its activity report for Jan 2017. While the reported figure increased 8% from the prior month, it decreased 8% compared with the year-ago period.

Interactive Brokers Group, Inc.'s IBKR total client DARTs were 646,000 for Jan 2017, down 22% from Jan 2016, but up 9% from Dec 2016.

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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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