The Charles Schwab Corporation, through its subsidiaries, provides wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The company operates in two segments, Investor Services and Advisor Services. The Investor Services segment provides retail brokerage and banking services, retirement plan services, and other corporate brokerage services; equity compensation plan sponsors full-service recordkeeping for stock plans, stock options, restricted stock, performance shares, and stock appreciation rights; and retail investor, retirement plan, and mutual fund clearing services. The Advisor Services segment offers custodial, trading, banking, and support services; and retirement business and corporate brokerage retirement services. This segment provides brokerage accounts with cash management capabilities; third-party mutual funds, as well as proprietary mutual funds, plus mutual fund trading, and clearing services to broker-dealers; and exchange-traded funds (ETFs), including proprietary and third-party ETFs. It also offers advice solutions, such as managed portfolios of proprietary and third-party mutual funds and ETFs, separately managed accounts, customized personal advice for tailored portfolios, and specialized planning and portfolio management. In addition, this segment provides banking products and services, including checking and savings accounts, first lien residential real estate mortgage loans, home equity lines of credit, and pledged asset lines; and trust services comprising trust custody services, personal trust reporting services, and administrative trustee services. The company serves individuals and institutional clients in the United States, the Commonwealth of Puerto Rico, the United Kingdom, Hong Kong, and Singapore. The Charles Schwab Corporation was incorporated in 1971 and is headquartered in Westlake, Texas.
IPO Year:
Exchange: NYSE
Website: schwab.com
Date | Price Target | Rating | Analyst |
---|---|---|---|
9/12/2024 | $70.00 | Equal Weight | Wells Fargo |
7/29/2024 | $80.00 → $64.00 | Overweight → Neutral | Piper Sandler |
7/17/2024 | $88.00 → $71.00 | Buy → Hold | TD Cowen |
7/8/2024 | $76.00 → $84.00 | Mkt Perform → Outperform | Keefe Bruyette |
3/22/2024 | $87.00 | Market Perform → Outperform | TD Cowen |
1/18/2024 | $75.00 → $70.00 | Outperform → Mkt Perform | Keefe Bruyette |
1/10/2024 | $75.00 → $70.00 | Buy → Neutral | Citigroup |
1/4/2024 | $77.00 | Market Perform | TD Cowen |
1/3/2024 | $70.00 → $71.00 | Buy → Neutral | Goldman |
12/1/2023 | $52.00 | Sell | Redburn Atlantic |
Schwab clients were net sellers of equities overall and across the Communication Services, Health Care and Information Technology sectors in August; they net bought Consumer Discretionary and Energy The Schwab Trading Activity Index™ (STAX) decreased to 53.16 in August, down from its score of 54.81 in July. The only index of its kind, the STAX is a proprietary, behavior-based index that analyzes retail investor stock positions and trading activity from Schwab's millions of client accounts to illuminate what investors were actually doing and how they were positioned in the markets each month. This press release features multimedia. View the full release here: https://www.businesswire.com/ne
Inflation concerns decline nearly ten points from the second quarter Traders are feeling better about the markets than they have any time in the past two years with 56% reporting a bullish outlook for the next three months, up ten points from the second quarter. This is according to the latest Charles Schwab Trader Sentiment Survey, a quarterly survey that explores the outlooks, expectations, and perspectives of traders at Charles Schwab. Trader optimism extends beyond the short-term market outlook, with nearly six in ten traders feeling it is a good time to invest (up 11 points QoQ) and more than half saying they are better off financially compared to a year ago (up five points QoQ and
Charles Schwab today released additional findings from its 2024 Modern Wealth Survey. Since 2017, Schwab has collected data annually on Americans' perspectives on saving, spending, investing, and wealth. This year's study reveals that Americans now think it takes an average of $2.5 million to be considered wealthy – which is up slightly from 2023 and 2022 ($2.2 million). By generation, Boomers have the highest threshold of what it takes to be considered wealthy, at $2.8 million, while the younger generations, Millennials and Gen Z, have lower thresholds of what is considered wealthy. At the same time, Americans say that the average net worth required to be financially comfortable is $778,
The Charles Schwab Corporation released its Monthly Activity Report today. Company highlights for the month of July 2024 include: This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240814857559/en/ Core net new assets brought to the company by new and existing clients totaled $29.0 billion – more than double July 2023 asset gathering levels. Total client assets were $9.57 trillion as of month-end July, up 16% from July 2023 and up 2% compared to June 2024. New brokerage accounts totaled 327 thousand in July, an increase of 8% and 5% versus July 2023 and June 2024, respectively. Transactional sweep cash finished July 2024 a
Today, the Schwab Ultra-Short Income ETF (NYSE:SCUS) begins trading. The ETF is the first actively managed fixed income ETF from Schwab Asset Management®, the asset management arm of The Charles Schwab Corporation. With an expense ratio of 0.14%, the Schwab Ultra-Short Income ETF is priced below the industry average of 0.25%1. The goal of the Schwab Ultra-Short Income ETF is to seek current income consistent with capital preservation while maintaining liquidity. The ETF invests in investment grade, short-term, U.S. dollar denominated debt securities issued by U.S. and foreign issuers and will maintain a portfolio duration of one year or less. About Schwab Asset Management One of the i
Schwab clients were net buyers in July, increasing their exposure to technology-related names associated with semiconductors, cloud computing and the Consumer Discretionary sector The Schwab Trading Activity Index™ (STAX) increased slightly to 54.81 in July, up from its score of 54.71 in June. The only index of its kind, the STAX is a proprietary, behavior-based index that analyzes retail investor stock positions and trading activity from Schwab's millions of client accounts to illuminate what investors were actually doing and how they were positioned in the markets each month. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/2024
Schwab Asset Management adds first actively managed fixed income ETF to its lineup Schwab Asset Management®, the asset management arm of The Charles Schwab Corporation, today announced the launch of the Schwab Ultra-Short Income ETF (NYSE:SCUS), its first actively managed fixed income ETF. The first day of trading is expected to be on or about August 13. With an expense ratio of 0.14%, the Schwab Ultra-Short Income ETF is priced below the industry average of 0.25%1. The ETF will provide access to the U.S. dollar denominated investment grade, short-term bond market and is designed to serve as part of a diversified portfolio. "The Schwab Ultra-Short Income ETF is a notable addition to t
The Board of Directors of The Charles Schwab Corporation at its meeting today declared a regular quarterly cash dividend of $0.25 per common share. The dividend is payable August 23, 2024 to stockholders of record as of the close of business on August 9, 2024. In addition, the Board of Directors also declared dividends on the following series of outstanding preferred stock, payable September 3, 2024 to stockholders of record as of the close of business on August 19, 2024: Preferred Stock Series Dividend Per Share Dividend Per Depositary Share 5.95% Non-Cumulative Perpetual Preferred Stock, Series D Dividend Period: June 1, 2024-August 31, 2024 $14.88
Demand for advice rises as 401(k) investors grow more bullish on professional help Workers are feeling more confident about their ability to reach their financial goals for retirement as anxiety around inflation and market volatility has come down since last year, according to a new survey from Charles Schwab. The annual nationwide survey of 401(k) plan participants finds that 43% of workers think they are very likely to achieve their retirement savings goals compared to 37% in 2023. Inflation and stock market volatility continue to be the biggest obstacles to saving for a comfortable retirement, though workers are slightly less concerned about both factors in 2024. Top obstacles to
Total Client Assets Reached A Record $9.4 Trillion, Up 17% Year-Over-Year Core Net New Assets Rose 17% to $61.2 Billion, Highlighting Continued Momentum The Charles Schwab Corporation reported net income for the second quarter totaling $1.3 billion, or $.66 diluted earnings per common share. Excluding $175 million of pre-tax transaction-related and restructuring costs, adjusted (1) net income and diluted common earnings per share equaled $1.5 billion and $.73, respectively. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240716776368/en/ Client Driven Growth +17% Core Net New Asset Growth Versus 2Q23 "Sch
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Wells Fargo initiated coverage of Charles Schwab with a rating of Equal Weight and set a new price target of $70.00
Piper Sandler downgraded Charles Schwab from Overweight to Neutral and set a new price target of $64.00 from $80.00 previously
TD Cowen downgraded Charles Schwab from Buy to Hold and set a new price target of $71.00 from $88.00 previously
Keefe Bruyette upgraded Charles Schwab from Mkt Perform to Outperform and set a new price target of $84.00 from $76.00 previously
TD Cowen upgraded Charles Schwab from Market Perform to Outperform and set a new price target of $87.00
Keefe Bruyette downgraded Charles Schwab from Outperform to Mkt Perform and set a new price target of $70.00 from $75.00 previously
Citigroup downgraded Charles Schwab from Buy to Neutral and set a new price target of $70.00 from $75.00 previously
TD Cowen initiated coverage of Charles Schwab with a rating of Market Perform and set a new price target of $77.00
Goldman downgraded Charles Schwab from Buy to Neutral and set a new price target of $71.00 from $70.00 previously
Redburn Atlantic initiated coverage of Charles Schwab with a rating of Sell and set a new price target of $52.00
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The Charles Schwab Corporation today announced its Board of Directors has approved the appointment of Carrie Schwab-Pomerantz as a director, effective immediately. Schwab-Pomerantz is currently a managing director at Charles Schwab & Co., leading the firm's efforts across financial literacy, community service and philanthropy. She is also a recognized personal finance expert and author, known for her popular investing advice column Ask Carrie. She originally joined the firm in 1983 and began her tenure in client-facing and product roles. She has served as Board Chair of the Charles Schwab Foundation since 2014 and as Board Chair of Schwab Charitable since 2012. She is Chair of the National
Bettinger to Share Board Leadership Responsibilities with Charles R. Schwab in Addition to Chief Executive Role The Charles Schwab Corporation today announced its board of directors has unanimously approved the appointment of Chief Executive Officer Walter W. Bettinger II as Co-Chairman of the Schwab Board of Directors, along with Founder and Co-Chairman Charles R. Schwab. In addition to becoming Co-Chairman for The Charles Schwab Corporation, Mr. Bettinger will become Co-Chairman of the boards of the firm's banking subsidiaries: Charles Schwab Bank, SSB (CSB); Charles Schwab Premier Bank, SSB (CSPB); and Charles Schwab Trust Bank (CSTB). These changes reflect Mr. Schwab's and the board's
The Board of Directors of The Charles Schwab Corporation announced today the appointment of Rick Wurster as President of The Charles Schwab Corporation, effective October 15, 2021. In his new role, Mr. Wurster will report to Walt Bettinger, Chief Executive Officer of The Charles Schwab Corporation. Mr. Wurster is currently a Managing Director and head of Schwab Asset Management. He joined Schwab in early 2016 and has worked closely with Mr. Bettinger and other Schwab executives over the past five years. Before joining Schwab, Mr. Wurster was employed at Wellington Management and McKinsey & Company. He has a Master of Business Administration from The Tuck School of Business at Dartmouth and
Charles Schwab (NYSE:SCHW) has outperformed the market over the past 20 years by 2.35% on an annualized basis producing an average annual return of 10.62%. Currently, Charles Schwab has a market capitalization of $120.20 billion. Buying $100 In SCHW: If an investor had bought $100 of SCHW stock 20 years ago, it would be worth $748.75 today based on a price of $65.75 for SCHW at the time of writing. Charles Schwab's Performance Over Last 20 Years Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time. This article was generated by Benzinga's automated conten
Investors with a lot of money to spend have taken a bullish stance on Charles Schwab (NYSE:SCHW). And retail traders should know. We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga. Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with SCHW, it often means somebody knows something is about to happen. So how do we know what these investors just did? Today, Benzinga's options scanner spotted 22 uncommon options trades for Charles Schwab. This isn't normal. The overall sentiment of these big-money traders is split between 45% bullish and 40%, bearish. Out of all of th
JMP Securities analyst Devin Ryan maintains Charles Schwab (NYSE:SCHW) with a Market Outperform and lowers the price target from $85 to $82.
These eleven large-cap stocks were the worst performers in the last week. Are they in your portfolio? LPL Financial Holdings Inc. (NASDAQ:LPLA) shares tumbled 20.16%. The company announced that financial advisor Alex Williams, CFP, has joined its broker-dealer, RIA, and custodial platforms to launch a new independent practice, Stable Wealth. Advanced Micro Devices (NASDAQ:AMD) stock decreased 17.82%. Shares of semiconductor and hardware stocks are trading lower amid a selloff in the sector, which has gained this year amid AI momentum. Domino’s Pizza Inc (NYSE:DPZ) stock dived 17.78% after the company reported mixed Q2 results. Several analysts cut the price target on the stock.
Investors with a lot of money to spend have taken a bullish stance on Charles Schwab (NYSE:SCHW). And retail traders should know. We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga. Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with SCHW, it often means somebody knows something is about to happen. So how do we know what these investors just did? Today, Benzinga's options scanner spotted 19 uncommon options trades for Charles Schwab. This isn't normal. The overall sentiment of these big-money traders is split between 47% bullish and 42%, bearish. Out of all of th
JP Morgan analyst Kenneth Worthington maintains Charles Schwab (NYSE:SCHW) with a Overweight and lowers the price target from $82 to $78.
It’s deep red on Wall Street on Wednesday, with tech stocks sharply falling amid a semiconductor broad-based selloff following news that the Biden administration is hastening export restrictions to China. Bloomberg reported on Wednesday that the U.S. administration has advised its allies to impose the strictest trade restrictions possible if companies such as Tokyo Electron Ltd. (OTCPK: TOELY) and ASML Holding NV (NASDAQ:ASML) persist in supplying advanced chips to China. Shares of the Dutch chipmaker ASML Holding fell nearly 12%, notching the worst decline since March 2020. The tech-heavy Nasdaq 100 tumbled by 2.7% at 12:45 p.m. ET, marking the worst session since late August 2023.
Barclays analyst Benjamin Budish maintains Charles Schwab (NYSE:SCHW) with a Equal-Weight and lowers the price target from $77 to $68.
Charles Schwab Corp (NYSE:SCHW) is under pressure Wednesday after the investing giant warned it will need to become smaller in an effort to protect profitability. Analysts are cutting estimates as a result. What To Know: Before the market open on Tuesday, Schwab reported second-quarter revenue of $4.69 billion, beating analyst estimates of $4.68 billion. The company also turned in adjusted earnings of 73 cents per share, beating estimates of 72 cents per share, per Benzinga Pro. Following the print, JPMorgan analyst Kenneth Worthington cut the firm’s price target from $82 to $78 on lower 2025 adjusted earnings expectations. The analyst previously forecasted full-year earnings of $4.81
Deutsche Bank analyst Brian Bedell maintains Charles Schwab (NYSE:SCHW) with a Buy and lowers the price target from $84 to $79.
The Board of Directors of The Charles Schwab Corporation at its meeting today declared a regular quarterly cash dividend of $0.25 per common share. The dividend is payable August 23, 2024 to stockholders of record as of the close of business on August 9, 2024. In addition, the Board of Directors also declared dividends on the following series of outstanding preferred stock, payable September 3, 2024 to stockholders of record as of the close of business on August 19, 2024: Preferred Stock Series Dividend Per Share Dividend Per Depositary Share 5.95% Non-Cumulative Perpetual Preferred Stock, Series D Dividend Period: June 1, 2024-August 31, 2024 $14.88
Total Client Assets Reached A Record $9.4 Trillion, Up 17% Year-Over-Year Core Net New Assets Rose 17% to $61.2 Billion, Highlighting Continued Momentum The Charles Schwab Corporation reported net income for the second quarter totaling $1.3 billion, or $.66 diluted earnings per common share. Excluding $175 million of pre-tax transaction-related and restructuring costs, adjusted (1) net income and diluted common earnings per share equaled $1.5 billion and $.73, respectively. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240716776368/en/ Client Driven Growth +17% Core Net New Asset Growth Versus 2Q23 "Sch
The Charles Schwab Corporation (CSC or Schwab) announced today that it has received the results of the Federal Reserve's 2024 Comprehensive Capital Analysis and Review (CCAR). These results included the Federal Reserve's estimate of Schwab's minimum capital ratios under the supervisory severely adverse scenario for the nine-quarter horizon beginning December 31, 2023 and ending March 31, 2026. Based on these results, Schwab's calculated stress capital buffer (SCB) remains well below the 2.5% minimum, resulting in a SCB at that floor. This 2.5% SCB will continue to be applicable to Schwab for the four-quarter period beginning October 1, 2024. Schwab's Common Equity Tier 1 (CET1) ratio of 2
The Board of Directors of The Charles Schwab Corporation at its meeting today declared a regular quarterly cash dividend of $0.25 per common share. The dividend is payable May 24, 2024 to stockholders of record as of the close of business on May 10, 2024. In addition, the Board of Directors also declared dividends on the following series of outstanding preferred stock, payable June 3, 2024 to stockholders of record as of the close of business on May 17, 2024: Preferred Stock Series Dividend Per Share Dividend Per Depositary Share 5.95% Non-Cumulative Perpetual Preferred Stock, Series D Dividend Period: March 1, 2024-May 31, 2024 $14.88 $0.3720
March Core Net New Assets Equaled $45 Billion – Annualized Growth Rate of 6% Total Client Assets Reached A Record $9.1 Trillion, Up 20% Year-Over-Year Expanded Profitability With GAAP Pre-Tax Margin of 37.9%; 40.9% Adjusted (1) The Charles Schwab Corporation reported first quarter 2024 net revenues of $4.7 billion, reflecting a quarter-over-quarter increase of 6%. Net income for the quarter totaled $1.4 billion, or $.68 diluted earnings per common share. Excluding $140 million of pre-tax transaction-related and restructuring costs, adjusted (1) net income and diluted common earnings per share equaled $1.5 billion and $.74, respectively. This press release features multimedia. View the fu
Schwab Asset Management®, the asset management arm of The Charles Schwab Corporation, today announced index and fund name changes for the Schwab Fundamental Index* ETF and mutual fund suite, effective on or about June 21, 2024. Shareholders in the ETFs and mutual funds do not need to take any action. The changes are part of Schwab Asset Management's continual review of its product set to refine and enhance its product line-up. A total of 12 Schwab Fundamental Index ETFs and mutual funds will be changing indexes and 11 of them will have new fund names: Ticker Current Fund Name New Fund Name Current Index New Index FNDX Schwab Funda
The Board of Directors of The Charles Schwab Corporation at its meeting today declared a regular quarterly cash dividend of $0.25 per common share. The dividend is payable February 23, 2024 to stockholders of record as of the close of business on February 9, 2024. In addition, the Board of Directors also declared dividends on the following series of outstanding preferred stock, payable March 1, 2024 to stockholders of record as of the close of business on February 15, 2024: Preferred Stock Series Dividend Per Share Dividend Per Depositary Share 5.95% Non-Cumulative Perpetual Preferred Stock, Series D Dividend Period: December 1, 2023-February 29, 2024
December Core Net New Assets Exceed $40 Billion – Annualized Growth Rate of 6% Total Client Assets Reach Record $8.5 Trillion at Year-end, Up 21% The Charles Schwab Corporation announced today that its net income for the fourth quarter of 2023 was $1.0 billion compared with $2.0 billion for the fourth quarter of 2022. Net income for the twelve months ended December 31, 2023 was $5.1 billion, compared with $7.2 billion for the year-earlier period. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240117628237/en/ Three Months Ended December 31, % Twelve Months Ended December 31,
The Board of Directors of The Charles Schwab Corporation at its meeting today declared a regular quarterly cash dividend of $0.25 per common share. The dividend is payable November 24, 2023 to stockholders of record as of the close of business on November 10, 2023. In addition, the Board of Directors also declared dividends on the following series of outstanding preferred stock, payable December 1, 2023 to stockholders of record as of the close of business on November 16, 2023: Preferred Stock Series Dividend Per Share Dividend Per Depositary Share 5.95% Non-Cumulative Perpetual Preferred Stock, Series D Dividend Period: September 1, 2023-November 30, 2023
Successfully Completed Largest Brokerage Conversion Event in History September Core Net New Assets Exceeded $27 Billion Bank Sweep Deposits Grew During September The Charles Schwab Corporation announced today that its net income for the third quarter of 2023 was $1.1 billion compared with $2.0 billion for the third quarter of 2022. Net income for the nine months ended September 30, 2023 was $4.0 billion, compared with $5.2 billion for the year-earlier period. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231016043490/en/ Three Months Ended September 30, % Nine Months Ended September 30,