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E*TRADE Financial Corporation Reports Monthly Activity For July 2013

Stocks in this article: ETFC

E*TRADE Financial Corporation (NASDAQ: ETFC) today released its Monthly Activity Report for July 2013.

Daily Average Revenue Trades (“DARTs”) for July were 140,898, a two percent decrease from June and a 10 percent increase from the year-ago period. The Company added 25,030 gross new brokerage accounts in July, ending the month with approximately 3.0 million brokerage accounts – a decrease of 1,859 from June. Total accounts ended the month at approximately 4.6 million.

Net new brokerage assets were positive $0.6 billion in the month. During the month, customer security holdings increased by six percent, or $8.3 billion, and brokerage-related cash increased by $1.2 billion to $36.8 billion. Bank-related cash and deposits ended the month unchanged, at $6.5 billion. Customers were net sellers of approximately $0.9 billion in securities during the month.

Monthly Activity Data

                   
Jul-13 Jun-13 Jul-12 % Chg. M/M % Chg. Y/Y
 
 
Trading days 21.5 20.0 20.5 N.M. N.M.
 
DARTs 140,898 144,329 128,594 (2.4)%

9.6 %

 
Gross new brokerage accounts 25,030 25,716 22,432 (2.7)%

11.6 %

Gross new stock plan accounts 20,310 18,689 18,060

8.7 %

12.5 %

Gross new banking accounts   852     766     1,222  

11.2 %

(30.3)%
Total gross new accounts 46,192 45,171 41,714

2.3 %

10.7 %

 
Net new brokerage accounts (1,859 ) 7,324 (4,363 ) N.M. N.M.
Net new stock plan accounts 5,691 4,354 5,308 N.M. N.M.
Net new banking accounts   (2,497 )   (3,151 )   (3,345 ) N.M. N.M.
Net new accounts 1,335 8,527 (2,400 ) N.M. N.M.
 
End of period brokerage accounts 2,960,872 2,962,731 2,870,242 (0.1)%

3.2 %

End of period stock plan accounts 1,191,498 1,185,807 1,109,610

0.5 %

7.4 %

End of period banking accounts   411,099     413,596     442,803   (0.6)% (7.2)%
End of period total accounts 4,563,469 4,562,134 4,422,655

0.0 %

3.2 %

 

Customer Assets ($B)

Security holdings $ 159.1 $ 150.8 $ 135.3

5.5 %

17.6 %

Customer payables (cash) 5.6 5.1 5.3

9.8 %

5.7 %

Customer cash balances held by third parties (1) 11.8 11.5 3.7

2.6 %

218.9 %

Unexercised stock plan customer options (vested)   31.7     27.2     21.4  

16.5 %

48.1 %

Customer assets in brokerage and stock plan accounts   208.2     194.6     165.7  

7.0 %

25.6 %

Sweep deposits 19.4 19.0 20.6

2.1 %

(5.8)%
Savings, transaction and other   6.5     6.5     7.3  

0.0 %

(11.0)%
Customer assets in banking accounts   25.9     25.5     27.9  

1.6 %

(7.2)%
Total customer assets $ 234.1 $ 220.1 $ 193.6

6.4 %

20.9 %

 
Net new brokerage assets ($B) (2) $ 0.6 $ 0.7 $ 0.3 N.M. N.M.
Net new banking assets ($B) (2)   (0.1 )   (0.1 )   (0.1 ) N.M. N.M.
Net new customer assets ($B) (2) $ 0.5 $ 0.6 $ 0.2 N.M. N.M.
 
Brokerage related cash ($B) $ 36.8 $ 35.6 $ 29.6

3.4 %

24.3 %

Other customer cash and deposits ($B)   6.5     6.5     7.3  

0.0 %

(11.0)%
Total customer cash and deposits ($B) $ 43.3 $ 42.1 $ 36.9

2.9 %

17.3 %

 
Customer net (purchase) / sell activity ($B) $ 0.9 $ (1.1 ) $ 0.2 N.M. N.M.

(1) Customer cash balances held by third parties are held outside E*TRADE Financial and include money market funds and sweep deposit accounts at unaffiliated financial institutions.

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