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Schwab's (SCHW) November Metrics Indicate Y/Y Improvement
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The Charles Schwab Corporation (SCHW - Free Report) released the monthly activity report for November 2017, which shows an improvement from the year-ago period. Total client assets were $3.3 trillion at the end of the month, jumping 21% year over year.
Further, client assets receiving ongoing advisory services were $1.7 trillion, increasing 22% year over year. Also, Schwab’s average interest earning assets were $223.3 billion at November end, reflecting 8% rise from the prior-year month.
Notably, the company opened 122,000 new brokerage accounts in November, a surge of 31% from the prior-year month. Net new assets, through both existing and new clients totaled $15.7 billion, jumping 32% from $11.9 billion in November 2016.
In fact, Schwab’s active brokerage accounts totaled 10.7 million at the end of the month, up 6% from the November 2016 level. Client’s banking accounts at the end of the reported month were 1.19 million, rising 8% from the year-ago period. Also, the number of retirement plan participants inched up 1% year over year to 1.56 million.
Consequently, shares of the company have rallied 27.2% so far this year, outperforming 16% gain for the industry.
E*TRADE Financial Corporation reported a rise in its Daily Average Revenue Trades (DARTs) for November 2017 on a year-over-year basis. According to its monthly market activity report, the company’s DARTs were 248, 669, rising 19% year over year. Notably, derivatives comprised 31% of DARTs for August.
Interactive Brokers Group, Inc.’s (IBKR - Free Report) Electronic Brokerage segment reported a year-over-year increase in DARTs for November 2017. Total client DARTs came in at 795,000, up 9% from November 2016. Also, total customer accounts increased 25% year over year to 474,000.
Other brokerage firm, TD Ameritrade Holding Corporation (AMTD - Free Report) is likely to announce its monthly metrics information within a few days.
Investor Alert: Breakthroughs Pending
A medical advance is now at the flashpoint between theory and realization. Billions of dollars in research have poured into it. Companies are already generating substantial revenue, and even more wondrous products are in the pipeline.
Cures for a variety of deadly diseases are in sight, and so are big potential profits for early investors. Zacks names 5 stocks to buy now.
Image: Bigstock
Schwab's (SCHW) November Metrics Indicate Y/Y Improvement
The Charles Schwab Corporation (SCHW - Free Report) released the monthly activity report for November 2017, which shows an improvement from the year-ago period. Total client assets were $3.3 trillion at the end of the month, jumping 21% year over year.
Further, client assets receiving ongoing advisory services were $1.7 trillion, increasing 22% year over year. Also, Schwab’s average interest earning assets were $223.3 billion at November end, reflecting 8% rise from the prior-year month.
Notably, the company opened 122,000 new brokerage accounts in November, a surge of 31% from the prior-year month. Net new assets, through both existing and new clients totaled $15.7 billion, jumping 32% from $11.9 billion in November 2016.
In fact, Schwab’s active brokerage accounts totaled 10.7 million at the end of the month, up 6% from the November 2016 level. Client’s banking accounts at the end of the reported month were 1.19 million, rising 8% from the year-ago period. Also, the number of retirement plan participants inched up 1% year over year to 1.56 million.
Consequently, shares of the company have rallied 27.2% so far this year, outperforming 16% gain for the industry.
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 reported a rise in its Daily Average Revenue Trades (DARTs) for November 2017 on a year-over-year basis. According to its monthly market activity report, the company’s DARTs were 248, 669, rising 19% year over year. Notably, derivatives comprised 31% of DARTs for August.
Interactive Brokers Group, Inc.’s (IBKR - Free Report) Electronic Brokerage segment reported a year-over-year increase in DARTs for November 2017. Total client DARTs came in at 795,000, up 9% from November 2016. Also, total customer accounts increased 25% year over year to 474,000.
Other brokerage firm, TD Ameritrade Holding Corporation (AMTD - Free Report) is likely to announce its monthly metrics information within a few days.
Investor Alert: Breakthroughs Pending
A medical advance is now at the flashpoint between theory and realization. Billions of dollars in research have poured into it. Companies are already generating substantial revenue, and even more wondrous products are in the pipeline.
Cures for a variety of deadly diseases are in sight, and so are big potential profits for early investors. Zacks names 5 stocks to buy now.
Click here to see them >>