Schwab (SCHW) Stock Up 2.4% As January Metrics Improve Y/Y
Zacks Investment Research | Feb 15, 2018 07:55AM ET
Shares of The Charles Schwab Corporation (NYSE:SCHW) rose 2.4% following the release the monthly activity report for January 2018, which shows an improvement from the year-ago period. Total client assets were $3.5 trillion at the end of the month, jumping 23% year over year.
Further, client assets receiving ongoing advisory services were $1.8 trillion, increasing 23% year over year. Also, Schwab’s average interest earning assets were $234.6 billion at January end, reflecting 9% rise from the prior-year month.
Notably, the company opened 165,000 new brokerage accounts in January, a surge of 49% from the prior-year month. Net new assets, through both existing and new clients totaled $11.5 billion, increasing 4% from January 2017 level.
In fact, Schwab’s active brokerage accounts totaled 10.9 million at the end of the month, up 6% from the January 2017 level. Client’s banking accounts at the end of the reported month were 1.21 million, rising 9% from the year-ago period. Also, the number of retirement plan participants inched up 2% year over year to 1.58 million.
Consequently, shares of the company have rallied 28.6% over the last six months, outperforming 19.2% gain for the Zacks Investment Research
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.