What's Going On With Charles Schwab Shares Today?
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 15 2024
0mins
Should l Buy SCHW?
Source: Benzinga
- Financial Performance: Charles Schwab Corporation reported a 17% Y/Y decline in adjusted net income to $1.469 billion for the first quarter of 2024.
- Earnings and Revenue: Adjusted EPS fell 20% Y/Y to $0.74, while revenue dropped 7% to $4.74 billion, slightly exceeding expectations.
- Client Assets and Accounts: The bank had $269.5 billion in deposits, a 17% decrease Y/Y, but attracted $96 billion in core net new assets in Q1 FY24.
- Operational Metrics: Net interest revenue declined by 19% Y/Y, and daily average trades increased by 1% Y/Y to 5.958 million.
- Leadership Statements: CEO Walt Bettinger highlighted growth in wealth solutions, while CFO Peter Crawford mentioned expense management and profit margins.
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Analyst Views on SCHW
Wall Street analysts forecast SCHW stock price to rise
16 Analyst Rating
14 Buy
1 Hold
1 Sell
Strong Buy
Current: 95.380
Low
91.00
Averages
116.64
High
148.00
Current: 95.380
Low
91.00
Averages
116.64
High
148.00
About SCHW
The Charles Schwab Corporation is a savings and loan holding company. The Company, through its subsidiaries, engages in wealth management, securities brokerage, banking, asset management, custody, and financial advisory services. The Company provides financial services to individuals and institutional clients through two segments: Investor Services, and Advisor Services. The Investor Services segment provides retail brokerage, investment advisory, and banking and trust services to individual investors, and retirement plan and business services, as well as other corporate brokerage services, to businesses and their employees. The Advisor Services segment provides custodial, trading, banking and trust, and support services to independent registered investment advisors (RIAs), independent retirement advisors, and recordkeepers. Its products and services include brokerage, mutual funds, exchange-traded funds (ETFs), managed investing solutions, alternative investments, banking, and trust.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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