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 |
---|---|---|---|
12/9/2024 | $74.00 → $95.00 | Equal Weight → Overweight | Barclays |
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 |
Schwab Asset Management expands its actively managed ETF line-up Schwab Asset Management®, the asset management arm of The Charles Schwab Corporation, today announced the launch of the Schwab Core Bond ETF (NYSE:SCCR). It's the business's second actively managed fixed income ETF after the launch in August 2024 of the Schwab Ultra-Short Income ETF (NYSE:SCUS). The first day of trading of SCCR is expected to be on or about February 5. With an expense ratio of 0.16%, the Schwab Core Bond ETF is priced below the industry average of 0.40%.1 The goal of the fund is to provide total return while generating income through investing in U.S. dollar-denominated debt securities such as corporate bo
More Schwab clients net bought equities than net sold, adding exposure in the Health Care and Energy sectors while net selling Information Technology and Communication Services The Schwab Trading Activity Index™ (STAX) increased to 51.16 in December, up from its score of 49.22 in November. 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/20250106
Schwab Asset Management®, the asset management arm of The Charles Schwab Corporation, today announced there will be no capital gains distributions for the 2024 tax year by any of the 32 exchange-traded funds (ETFs) in the Schwab ETF family. "Once more the Schwab ETFs distributed zero capital gains, reinforcing our commitment to clients and highlighting the expertise of our portfolio management team," said Nicohl Bogan, Head of Passive Product Management & Innovation for Schwab Asset Management. "This achievement is particularly important because according to our latest ETFs and Beyond Study, over the past year, ETF investors primarily use ETFs to begin investing and building wealth, and t
The Charles Schwab Corporation announced today that it has scheduled a Winter Business Update for institutional investors on Tuesday, January 21st. This Update, which will be held via live public webcast, is part of an ongoing series designed to help the investment community keep abreast of recent developments and management's strategic focus. The program is scheduled to run from 7:30 a.m. - 8:30 a.m. CT, 8:30 a.m. - 9:30 a.m. ET. Participants will include Chief Executive Officer Rick Wurster and Chief Financial Officer Mike Verdeschi. The Update will be accessible at https://schwabevents.com/corporation. About Charles Schwab The Charles Schwab Corporation (NYSE:SCHW) is a leading pro
The Schwab Center for Financial Research (SCFR), which provides top-quality research, timely market insights and practical guidance for investors, today released its annual market outlook, Schwab Market Perspective: 2025 Outlook, which highlights the most important economic and market trends that investors should consider for the year ahead. The Schwab Market Perspective: 2025 Outlook provides perspectives on U.S. stocks and the U.S. economy, fixed income, corporate bonds, municipal bonds, and a global outlook. SCFR also released its 2025 Planning and Wealth Management Outlook, which provides guidance on how to stay on track in 2025 to help reach your financial goals. 2025 U.S. Stocks
The Charles Schwab Corporation released its Monthly Activity Report today. Company highlights for the month of November 2024 include: This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241213004830/en/ Core net new assets brought to the company by new and existing clients totaled $28.8 billion. Net new assets excluding mutual fund clearing totaled $24.1 billion. Total client assets equaled $10.31 trillion as of month-end November, up 26% from November 2023 and up 5% compared to October 2024. Transactional sweep cash ended November at $393.7 billion – or flat versus the prior month. Driven primarily by equity volumes, Novem
More Schwab clients net bought equities than net sold, with the most buying in the Information Technology, Health Care, and Consumer Staples sectors. Selling was most pronounced in Communication Services, Financials, and Consumer Discretionary. The Schwab Trading Activity Index™ (STAX) increased to 49.22 in November, up from its score of 48.37 in October. 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
Schwab Asset Management®, the asset management arm of The Charles Schwab Corporation, announced the Schwab Mortgage-Backed Securities ETF (NYSE:SMBS) began trading today. With an expense ratio of 0.03%, the Schwab Mortgage-Backed Securities ETF is priced in line with the lowest-priced peer ETFs based on the U.S. Mortgage Lipper category1. The ETF provides access to investment-grade mortgage-backed securities issued and/or guaranteed by U.S. government agencies. The goal of the Schwab Mortgage-Backed Securities ETF is to track as closely as possible, before fees and expenses, the total return of the Bloomberg US MBS Float Adjusted Total Return Index. The ETF invests in mortgage-backed pa
The Charles Schwab Corporation released its Monthly Activity Report today. Company highlights for the month of October 2024 include: This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241114282831/en/ Core net new assets brought to the company by new and existing clients totaled $24.6 billion. Net new assets excluding mutual fund clearing totaled $21.0 billion. Total client assets equaled $9.85 trillion as of month-end October, up 29% from October 2023 and down 1% compared to September 2024. Transactional sweep cash ended October at $394.0 billion, representing an increase of $10.0 billion versus the prior month. About Cha
Schwab Asset Management®, the asset management arm of The Charles Schwab Corporation, today announced the launch of the Schwab Mortgage-Backed Securities ETF (NYSE:SMBS). The first day of trading is expected to be on or about November 19. With an expense ratio of 0.03%, the Schwab Mortgage-Backed Securities ETF is priced in line with the lowest-priced peer ETFs based on the U.S. Mortgage Lipper category1. The ETF will provide simple access to investment-grade mortgage-backed securities issued and/or guaranteed by U.S. government agencies. It is designed to serve as part of a diversified portfolio. "It's been a notable period for the fixed income market, and at Schwab Asset Management we'r
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 22, 2024 to stockholders of record as of the close of business on November 8, 2024. In addition, the Board of Directors also declared dividends on the following series of outstanding preferred stock, payable December 2, 2024 to stockholders of record as of the close of business on November 15, 2024: Preferred Stock Series Dividend Per Share Dividend Per Depositary Share 5.95% Non-Cumulative Perpetual Preferred Stock, Series D Dividend Period: September 1, 2024-November 30, 2024 $14.88 $0.37
Total Client Assets Increased 27% Year-Over-Year to a Record $9.92 Trillion Core Net New Assets Equaled $95.3 Billion, Year-To-Date Exceeds $250 Billion Quarterly Net Revenues Grew 5% Year-Over-Year to $4.8 Billion The Charles Schwab Corporation reported net income for the third quarter totaling $1.4 billion, or $.71 diluted earnings per common share. Excluding $153 million of pre-tax transaction-related costs, adjusted (1) net income and diluted common earnings per share equaled $1.5 billion and $.77, respectively. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241015717862/en/ Client Driven Growth $95.3B 3Q24 Cor
Schwab Asset Management®, the asset management arm of The Charles Schwab Corporation, today announced forward share splits on 20 Schwab ETFs. Forward ETF share splits increase the number of shares outstanding and decrease the Net Asset Value (NAV) per share. The share splits will not change the total value of a shareholder's investment. The ETF share splits will apply to shareholders of record as of the close of US markets on October 9, 2024, payable after the close of the markets on October 10, 2024. Shares will begin trading at their post-split price on October 11, 2024. Ticker Fund Record date Payable date NAV/share as of 9/24/24 Split Ratio SCHG Schwab U.S. La
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
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Barclays upgraded Charles Schwab from Equal Weight to Overweight and set a new price target of $95.00 from $74.00 previously
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
Will Continue Serving as Executive Co-Chairman of the Board of Directors Rick Wurster Named CEO to Succeed Bettinger The Charles Schwab Corporation today announced, as part of its multi-year succession plan, that Walt Bettinger has notified the Board of Directors of his intention to retire as Chief Executive Officer effective December 31, 2024. Rick Wurster, President of Schwab since 2021, will be named President and CEO and will join the Schwab Board of Directors, effective January 1, 2025. Bettinger will continue to serve as Executive Co-Chairman of the Board of Directors, along with founder Charles R. Schwab. Bettinger has successfully led Schwab as CEO since late 2008. Some of the ma
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
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