E*TRADE Financial Reports Another Weak Monthly Activity in May

E*TRADE saw its most important key figure, Daily Average Revenue Trades, in negative territory again

E*TRADE Financial Corporation (NASDAQ:ETFC) has released its activity and trading volumes for the month ending May 2015, according to an E*TRADE statement.

Daily Average Revenue Trades (“DARTs”) for May 2015 were just 151,444, a 4% decrease from April and a three percent increase from the year-ago period. This is disappointing for the broker as E*TRADE saw its DARTs for April 2015 come in at 157,442, which already represented a one percent decrease month-over-month from 159,053 in March 2015 and an eight percent drop year-over-year from 171,271 in April 2014.

On the positive side, E*TRADE added 27,865 gross new brokerage accounts in May, ending the month with approximately 3.2 million brokerage accounts, an increase of 7,141 from April 2015. However, this means that the DARTs per account had to have been lower than April’s figure.

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In addition, E*TRADE said net new brokerage assets were $1.0 billion in the month of May 2015. During the month, customer security holdings increased by two percent, or $3.7 billion, and brokerage-related cash increased by $0.7 billion to $42.0 billion.

E*TRADE also reported that bank-related cash and deposits increased by $0.1 billion, ending the month at $5.6 billion. Finally, E*TRADE customers were net buyers of approximately $0.2 billion in securities during the month

In April, E*TRADE reported its Q1 2015 metrics, having notched a net income of $40.0 million, or $0.14 per share. This represented a loss of 2.4 percent quarter over quarter from $41.0 million in Q4 2014 and $0.14 per share.

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