Interactive Brokers (IBKR) DARTs Increase 7% Y/Y in September
Interactive Brokers Group’s IBKR Electronic Brokerage segment reported a year-over-year increase in Daily Average Revenue Trades (DARTs) for September 2017. The segment deals in clearance and settlement of trades for individual and institutional clients globally.
Total client DARTs were 696,000, up 7% from September 2016 and in line with August 2017 level. Also, total customer accounts jumped 23% year over year and 2% from the prior month to 456,600.
Further, net new accounts totaled 7,700 in the reported month, surging 51% from a year ago. However, it declined 39% from last month. Further, on an annualized basis, the company recorded Cleared Average DARTs per customer account of 357,000 in September. This reflects a decrease of 14% year over year and 2% from the prior month.
Interactive Brokers’ total option contracts were 23.4 million, increasing 3% from September 2016. However, it declined 17% from August 2017. Future contracts came in at 10.1 million, reflecting a decline of 5% from September 2016 and a drop of 9% from August 2017.
At the end of September 2017, client equity was $115.7 billion, up 40% year over year and 3% from the previous month. Also, Interactive Brokers recorded client credit balance of $47.2 billion for the reported month, up 12% year over year and relatively on par with the prior month. Further, the company’s customer margin loan balance of $25.1 billion was up 39% from the prior-year period and 3% from the preceding month.
Interactive Brokers’ shares have gained 27.1% so far this year, outperforming the industry’s rally of 5.1%.
Currently, Interactive Brokers carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
A few better-ranked stocks in the Finance space are AeroCentury Corp. ACY, Royal Bank of Canada RY and ING Group, N.V. ING, each sporting a Zacks Rank #1.
AeroCentury Corp has witnessed upward earnings estimate revision of 9.9% for the current year in the past 60 days. Moreover, its shares have gained 52.9% in the last 12 months.
Royal Bank of Canada’s current-year earnings estimates have been revised 9.4% upward over the last 60 days. Further, its shares have rallied 26.2% in the last 12 months.
ING Group’s earnings estimates have been revised upward by 4% for the current year in the past 60 days. Also, its share price has increased 50.8% in the last 12 months.
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