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The Charles Schwab Corporation (SCHW) - free report >>
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Interactive Brokers (IBKR) Reports Rise in June Client DARTs
Interactive Brokers Group, Inc. (IBKR - Free Report) has released the Electronic Brokerage segment’s performance metrics for June 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 June were 2,469,000, which increased 26% from June 2023 and 5% from the last month.
On an annualized basis, the Cleared Average DARTs per customer account was 190 for May 2024. The metric declined 1% on a year-over-year basis but increased 2.2% from May 2024.
IBKR’s total customer accounts rose 28% from the prior year month and 2% from May 2024 to 2.92 million. Net new accounts were 60,100, witnessing a surge of 84.9% from June 2023 and a sequential rise of 5.1%.
Interactive Brokers’ total options contracts were 98.8 million in June 2024, up 18.9% year over year but down 5% sequentially. Future contracts fell 8.9% year over year and 10.9% from May 2024 to 15.7 million.
At the end of June 2024, client equity was $497.2 billion, which grew 36% year over year and 2% from the last month. IBKR recorded client credit balances of $107.1 billion, up 8% from June 2023 and stable relative to the May 2024 level. The company's customer margin loan balance of $55.1 billion increased 32% from the year-ago month and 4% from the last month.
Over the past three months, shares of Interactive Brokers have surged 47.4%, outperforming the industry’s growth of 16.3%.
Image Source: Zacks Investment Research
Currently, IBKR carries a Zacks Rank #2 (Buy).
Two other brokerage firms, The Charles Schwab Corporation (SCHW - Free Report) and LPL Financial Holdings Inc. (LPLA - Free Report) , will come out with their monthly performance metrics along with their quarterly results soon.
The Zacks Consensus Estimate for SCHW’s 2024 earnings per share has been revised marginally downward over the past 30 days. The consensus estimate for LPLA’s 2024 earnings per share has remained unchanged over the past seven days.
At present, SCHW and LPLA carry a Zacks Rank #3 (Hold) each. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.