E*TRADE Financial Corporation (NASDAQ:ETFC) today released its Monthly Activity Report for April 2016.
Daily Average Revenue Trades ("DARTs") for April were 159,215, a one percent increase from March and a one percent increase from the year-ago period. The Company added 34,724 gross new brokerage accounts in April and ended the month with approximately 3.3 million brokerage accounts — an increase of 10,866 from March.
Net new brokerage assets were negative $0.4 billion in the month. During the month, customer security holdings were unchanged, while brokerage-related cash remained flat, ending the month at $42.6 billion. Bank-related cash and deposits decreased $0.1 billion, ending the month at $5.3 billion. Customers were net sellers of approximately $0.2 billion in securities during the month.
Monthly Activity Data | ||||||||||||||||||||||||||||
| Apr-16 | Mar-16 | Apr-15 | % Chg. M/M | % Chg. Y/Y | ||||||||||||||||||||||||
| Trading days | 21.0 | 22.0 | 21.0 | N.M. | N.M. | |||||||||||||||||||||||
| DARTs | 159,215 | 157,242 | 157,442 | 1.3% | 1.1% | |||||||||||||||||||||||
| Gross new brokerage accounts | 34,724 | 35,348 | 37,077 | (1.8)% | (6.3)% | |||||||||||||||||||||||
| Gross new stock plan accounts | 25,202 | 18,805 | 16,298 | 34.0% | 54.6% | |||||||||||||||||||||||
| Gross new banking accounts | 337 | 330 | 425 | 2.1% | (20.7)% | |||||||||||||||||||||||
| Total gross new accounts | 60,263 | 54,483 | 53,800 | 10.6% | 12.0% | |||||||||||||||||||||||
| Net new brokerage accounts(1) | 10,866 | 17,769 | 8,315 | N.M. | N.M. | |||||||||||||||||||||||
| Net new stock plan accounts | 11,822 | 6,034 | (1,759) | N.M. | N.M. | |||||||||||||||||||||||
| Net new banking accounts | (1,727) | (1,447) | (2,320) | N.M. | N.M. | |||||||||||||||||||||||
| Net new accounts | 20,961 | 22,356 | 4,236 | N.M. | N.M. | |||||||||||||||||||||||
| End of period brokerage accounts(1) | 3,264,866 | 3,254,000 | 3,190,954 | 0.3% | 2.3% | |||||||||||||||||||||||
| End of period stock plan accounts | 1,436,387 | 1,424,565 | 1,271,709 | 0.8% | 12.9% | |||||||||||||||||||||||
| End of period banking accounts | 333,824 | 335,551 | 354,553 | (0.5)% | (5.8)% | |||||||||||||||||||||||
| End of period total accounts | 5,035,077 | 5,014,116 | 4,817,216 | 0.4% | 4.5% | |||||||||||||||||||||||
Customer Assets ($B) | ||||||||||||||||||||||||||||
| Security holdings | $ | 205.6 | $ | 205.6 | $ | 216.9 | 0.0% | (5.2)% | ||||||||||||||||||||
| Sweep deposits | 26.4 | 26.4 | 20.7 | 0.0% | 27.5% | |||||||||||||||||||||||
| Customer payables (cash) | 6.9 | 6.8 | 6.6 | 1.5% | 4.5% | |||||||||||||||||||||||
| Customer assets held by third parties(2) | 9.3 | 9.4 | 14.0 | (1.1)% | (33.6)% | |||||||||||||||||||||||
| Brokerage customer assets | 248.2 | 248.2 | 258.2 | 0.0% | (3.9)% | |||||||||||||||||||||||
Unexercised stock plan customer holdings | 31.4 | 30.9 | 38.3 | 1.6% | (18.0)% | |||||||||||||||||||||||
Savings, checking and other banking | 5.3 | 5.4 | 5.5 | (1.9)% | (3.6)% | |||||||||||||||||||||||
| Total customer assets | $ | 284.9 | $ | 284.5 | $ | 302.0 | 0.1% | (5.7)% | ||||||||||||||||||||
| Net new brokerage assets(3) | $ | (0.4) | $ | 1.0 | $ | (0.4) | N.M. | N.M. | ||||||||||||||||||||
| Net new banking assets(3) | (0.1) | 0.1 | (0.2) | N.M. | N.M. | |||||||||||||||||||||||
| Net new customer assets(3) | $ | (0.5) | $ | 1.1 | $ | (0.6) | N.M. | N.M. | ||||||||||||||||||||
| Brokerage related cash | $ | 42.6 | $ | 42.6 | $ | 41.3 | 0.0% | 3.1% | ||||||||||||||||||||
| Other customer cash and deposits | 5.3 | 5.4 | 5.5 | (1.9)% | (3.6)% | |||||||||||||||||||||||
| Total customer cash and deposits | $ | 47.9 | $ | 48.0 | $ | 46.8 | (0.2)% | 2.4% | ||||||||||||||||||||
| Customer net (buy) / sell activity | $ | 0.2 | $ | 0.7 | $ | 0.5 | N.M. | N.M. | ||||||||||||||||||||
| (1) | Net new brokerage accounts include the closure of 1,466 accounts in March related to the shutdown of the Company's Hong Kong and Singapore operations. | |
| (2) | Customer assets held by third parties are held outside E*TRADE Financial and include money market funds and sweep deposit accounts at unaffiliated financial institutions. | |
| (3) | Net new customer assets are total inflows to all new and existing customer accounts less total outflows from all closed and existing customer accounts. The net new banking assets and net new brokerage assets metrics treat asset flows between E*TRADE entities in the same manner as unrelated third party accounts. | |
Historical metrics and financials can be found on E*TRADE Financial's corporate website at https://about.etrade.com.
About E*TRADE Financial
E*TRADE Financial and its subsidiaries provide financial services including online brokerage and related banking products and services to retail investors. Securities products and services are offered by E*TRADE Securities LLC (Member FINRA/SIPC). Bank products and services are offered by E*TRADE Bank, a Federal savings bank, Member FDIC, or its subsidiaries. More information is available at www.etrade.com.
Important Notices
E*TRADE Financial, E*TRADE, and the E*TRADE logo are trademarks or registered trademarks of E*TRADE Financial Corporation. ETFC-G
© 2016 E*TRADE Financial Corporation. All rights reserved.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160513005073/en/
Contacts:
Thayer
Fox, 646-521-4418
thayer.fox@etrade.com
or
E*TRADE
Investor Relations
Brett Goodman, 646-521-4406
brett.goodman@etrade.com
