Schwab Stock Gains on Upgrade. Are Its Deposit Problems Over?

·1 min read
Schwab Stock Gains on Upgrade. Are Its Deposit Problems Over?

Charles Schwab stock was jumping Monday after it was upgraded at Raymond James amid signs that its deposit issues have started “winding down.” Raymond James analyst Patrick O’Shaughnessy upgraded Charles Schwab stock (ticker: SCHW) to Outperform from Market Perform. The reason for the optimism comes down to hopes that flows from the broker’s low-yielding sweep accounts into higher-yielding money-market funds are starting to slow.