|Bid||26.83 x 1300|
|Ask||26.87 x 800|
|Day's Range||26.78 - 26.87|
|52 Week Range||24.58 - 26.94|
|Beta (3Y Monthly)||-0.01|
|PE Ratio (TTM)||10.10|
|Forward Dividend & Yield||1.50 (5.60%)|
|1y Target Est||N/A|
Charles Schwab appears less sensitive to interest rate changes than it has been in the past, and its stock is about to reverse its recent tepid performance, Wells Fargo said.
Discount brokerage pioneer and robo giant Charles Schwab reportedly is in talks to acquire the brokerage and wealth management units of USAA for $2 billion. A deal would boost Schwab’s client assets – already in excess of $3.5 trillion – and further entrench it in the financial advice space, according to the Wall Street Journal. It would also leave USAA, which serves current and former members of the military, primarily an insurer.
E-Trade earnings beat but revenue missed after Interactive Brokers fell short of estimates and Charles Schwab met views.
As of July 16, Charles Schwab Corp. (NYSE: SCHW ) is the fifth-largest U.S. issuer of exchange traded funds with $145.71 billion in assets under management. It didn't get that way by offering a lot of ...
(Bloomberg) -- Charles Schwab Corp. is stepping up its offerings of fixed-income ETFs.The San Francisco-based broker’s asset management arm is planning to start three new products focused on corporate bonds and Treasuries, almost doubling the number of debt exchange-traded funds it offers, regulatory filings show.The decision marks a shift for Charles Schwab Investment Management, which has largely ridden its equity-fund offerings to become the fifth-largest ETF issuer in the U.S.More than 84% of the $146 billion in Schwab ETFs is invested in stocks. But with global bond ETFs surpassing $1 trillion this year, debt funds are increasingly important for further growth.The firm is keen to fill “gaps” in its fixed-income lineup, CSIM’s Jonathan de St. Paer said earlier this year before taking over as chief executive in April.The planned funds and their trading tickers are:Schwab Short-Term Corporate Bond ETF (SCHJ)Schwab Intermediate-Term Corporate Bond ETF (SCHI)Schwab Long-Term U.S. Treasury ETF (SCHQ)The firm didn’t disclose the intended management fees.To contact the reporter on this story: Rachel Evans in New York at email@example.comTo contact the editors responsible for this story: Jeremy Herron at firstname.lastname@example.org, Brendan WalshFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Charles Schwab (NYSE: SCHW ) reported second-quarter earnings of 66 cents per share, which comes in line with analyst estimates. Sales of $2.681 billion beat the $2.67 billion estimate. "Thus far ...
Shares of Charles Schwab were higher Tuesday as the San Francisco asset manager and discount broker reported second-quarter earnings and revenue that exceeded analysts' expectations. Net income climbed 8.
Charles Schwab told employees it’s scrapping an annual trip to Hawaii or other popular destinations for high-performing employees, saying the event was rooted in “a different era” and now poses “significant reputational risks,” the Wall Street Journal reported, citing a company email to employees. In place of next year’s trip to Hawaii for about 200 employees, the company will give those making the Chairman’s Club an after-tax check for $5,000 and a paid week off. Ending the Hawaii trip reflects how no expense is overlooked in an era when Schwab faces pricing pressures from a new generation of competitors, such as Menlo Park-based Robinhood, with commission-free stock trades and margin rates on most loans about half of what Schwab charges.
(Bloomberg) -- Charles Schwab Corp. appears to be making a play to grab more advisory clients as fees fall for asset management and trading.The San Francisco-based brokerage firm is in talks to buy USAA’s brokerage and wealth-management operations for roughly $2 billion, the Wall Street Journal reported Monday. The deal may be reached this month, the newspaper said, citing people familiar with the matter.The potential transaction underscores the increasing race by asset managers to diversify amid competition to lower fees for trading and fund management. In March, Schwab introduced the first monthly subscription plan for clients. Vanguard Group Inc., the low-fee fund leader, is devoting more resources to offering advice and Fidelity Investments last year started offering zero-fee index funds.“We’ve seen Schwab in general moving more in the direction of providing wealth-management and financial planning advice, more than just the DIY-investor platform,” Donnie Ethier, director of wealth management at Boston-based consulting firm Cerulli Associates, said. USAA’s clientele represent current and former members of the military who “tend to have a very strong culture and client loyalty and retention.”Traditionally viewed as an adviser and broker to the masses, Schwab’s USAA deal would fuel expansion in an arena that’s seen as having better growth prospects and a higher return on equity than most other retail banking businesses.In North America, personal financial wealth grew by nearly a quarter in the three years ending in 2018 to $90.3 trillion, according to a Boston Consulting Group report. Baby boomers are becoming increasingly dependent on money managers as they retire at a pace of 10,000 a day.The advisory business is undergoing a sea-change as financial technology, such as robo-advisers and index funds, are transforming client needs and expectations, according Ethier, who has no direct knowledge of the potential transaction.Representatives for Schwab and USAA declined to comment when reached by Bloomberg.Schwab has been trying to increase the share of revenue and income from adviser services, which made up 27.7% of revenue and 30.4% of operating income for fiscal 2018, according to data compiled by Bloomberg. The majority of Schwab’s revenue last year came from net interest margin, or earnings from client cash deposits, a source that would be threatened by falling interest rates.The potential transaction got a lukewarm reception from investors and some analysts.USAA would add about 3% to Schwab’s total of $3.6 trillion in client assets, so “clearly not qualify as a transformative deal although is not insignificant,” Wells Fargo & Co. analysts led by Christopher Harris said in a note Monday.Schwab shares climbed 0.4% to $40.30 in New York trading Monday. The stock has declined 3% this year, while an S&P 500 index of asset managers and custody banks returned 11%.On July 12, Bank of America Corp. cut its Schwab rating to neutral from buy, citing a tougher revenue and margin outlook.The company reports earnings tomorrow and will hold a business update call July 19.The sale of its wealth management unit would help USAA focus more on its core insurance business, according to Cerulli’s Ethier. On July 1, it completed the sale of its asset management business to Victory Capital Holdings Inc. for $850 million.(Adds analyst comments starting in fourth paragraph.)To contact the reporters on this story: John Gittelsohn in Los Angeles at email@example.com;Devon Pendleton in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Alan Mirabella at email@example.com, ;Pierre Paulden at firstname.lastname@example.org, Josh FriedmanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Traders this week will have plenty to sink their teeth into, between the start to second-quarter earnings season, hearings on Facebook’s controversial new cryptocurrency project and Amazon’s Prime Day extravaganza.
Since Schwab switched to a subscription model for its hybrid robo-advisor in late March, the service has added $1 billion in new assets.
'Is not the Fed now operating on the dual mandate of arsonist - and fireman?' -- Jim Grant, Grant’s Interest Rate Observer Continue reading...
Over the past few years, net interest income (NII) has been Charles Schwab Corporation’s (NYSE: SCHW ) revenue growth engine. With Fed rate cuts now on the horizon, the company’s revenue outlook looks ...
Long ago, Dennis Howard's dad told him computers were the future, so he took some computer programming classes during college. Today, he runs the tech side of a company that employs about 20,000 people and oversees about $3.5 trillion in client assets.
This year could get even rockier for brokers, who make money from interest on customer deposits, if the Federal Reserve lowers interest rates soon.
Charles Schwab Corp. (NYSE: SCHW ), one of the largest discount brokers, is again expanding its Schwab ETF OneSource platform, one of the largest commission-free exchange traded funds offerings in the ...