E*TRADE Financial Corporation (NASDAQ: ETFC) has released its metrics for the month ending October 2015, which was highlighted by a solid MoM growth across its trading, according to a recent E*TRADE Financial statement.
As per its latest metrics release, E*TRADE’s Daily Average Revenue Trades (DARTs) came in at 144,607 in October 2015, growing 4.0% MoM from 139,084 in September 2015. However, over a yearly timetable, E*TRADE’s performance was far worse, as it saw its DARTs plunge by -17.6% YoY from 175,447 in October 2014.
In terms of brokerage accounts, E*TRADE notched an increase of 24,227 gross new accounts in October 2015 – this corresponds to a strong uptick of 27.4% MoM from 25,951 newly added brokerage accounts in September 2015 – overall, this brings the company’s total accounts to approximately 3.2 million.
In addition, E*TRADE also saw its customer security holdings come in at $211.1 million during October 2015, or 7.2% MoM from $197.0 million in September 2015.
Last month, E*TRADE also released its much anticipated Q3 earnings report, which showed the group’s net income plunge to -$153 million, or $0.53 per diluted share down from $292 million in Q2 2015. The earnings were substantially weighted down by the group’s intentions to eliminate $4.4 billion of wholesale funding obligations from its bank balance sheet by the end of Q3 2015.
Despite the propensity of its weak Q3 2015 earnings, E*TRADE’s share prices (NASDAQ: ETFC) have orchestrated a nice rebound as of late, topping out at $30.80 one week ago. Since then, shares have relinquished their hold on the $30.00 level, falling back to $29.01 at the US open Friday.
