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Schwab’s (SCHW) Metrics Record Y/Y Improvement in April


The Charles Schwab Corporation’s SCHW monthly activity for April 2018 reflects year-over-year improvement. Total client assets were $3.3 trillion at the end of the month, jumping 12% on a year-over-year basis.

Further, client assets receiving ongoing advisory services were $1.7 trillion, up 15% year over year. Also, Schwab’s average interest earning assets were $239.8 billion at April-end, improving 10% from the prior-year month’s level.

Notably, the company opened 141,000 new brokerage accounts in April, a jump of 13% from the prior-year month. Net new assets, through existing and new clients, totaled $9.9 billion, excluding outflows of $9.5 billion from certain mutual fund clearing services clients.

In fact, Schwab’s active brokerage accounts totaled 11.1 million at the end of the month, up 7% from the April 2017 level. Client’s banking accounts at the end of the reported month were 1.23 million, rising 9% from the year-ago period’s tally. Also, the number of retirement plan participants increased 4% year over year to 1.60 million.

Consequently, the stock has rallied 32.1% in the last six months, outperforming 16.4% growth of the industry.

Schwab 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 ETFC reported a rise in Daily Average Revenue Trades (DARTs) in April 2018 on a year-over-year basis. According to its monthly market activity, the company’s DARTs came in at 249,939, up 28% year over year. Notably, derivatives comprised 35% of DARTs in April.

Interactive Brokers Group’s IBKR Electronic Brokerage segment reported year-over-year increase in DARTs for April 2018. The segment deals with clearance and settlement of trades for individual and institutional clients globally. Total client DARTs were 812,000, up 26% from April 2017.

LPL Financial Holdings LPLA is likely to report monthly activity for April in a few days.

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