SCHW - The Charles Schwab Corporation
| Previous Close | 42.78 |
| Open | 42.25 |
| Bid | 42.69 x 900 |
| Ask | 42.70 x 1400 |
| Day's Range | 41.94 - 42.70 |
| 52 Week Range | 35.85 - 52.47 |
| Volume | 2,752,475 |
| Avg. Volume | 9,439,826 |
| Market Cap | 55.745B |
| Beta (3Y Monthly) | 0.94 |
| PE Ratio (TTM) | 16.03 |
| EPS (TTM) | 2.66 |
| Earnings Date | Oct 15, 2019 |
| Forward Dividend & Yield | 0.68 (1.59%) |
| Ex-Dividend Date | 2019-08-08 |
| 1y Target Est | 45.63 |
- Yahoo Finance Video
Companies to Watch: Disney faces off against AT&T, GameStop slashes guidance, Amazon looks to cut delivery times
Disney, AT&T, GameStop, Amazon, Purdue Pharma and Charles Schwab are the companies to watch.
- Business Wire
Step Away From the Headlines: Advisors Say Being Easily Influenced by Recent News and Events Is #1 Investing Misstep
Advisors can play key role in helping clients understand common behavioral biases and establish guardrails to avoid emotional decision-making
- Investopedia
The Top U.S. Regulated Stock Brokers (AMTD, IBKR)
To operate in the United States, stock brokers must comply with SEC regulations that protect investors. Here is a look at some of the best.
- Zacks
LPL Financial's (LPLA) August Brokerage Assets Improve Y/Y
LPL Financial (LPLA) records 4.9% year-over-year growth in brokerage and advisory assets in August 2019. However, it declined marginally from the prior month.
- Benzinga
5 Low Fee Banking Options
In today’s society, a checking account is essential to have. Ally’s easy to use checking account is one of the highest-rated out on the market. Ally (NYSE: ALLY) offers zero fees to its customers when they use Ally Bank’s Interest Checking Account.
- Zacks
E*TRADE's (ETFC) August 2019 DARTs Increase 12% From July
E*TRADE's (ETFC) Daily Average Revenue Trades (DARTs) of 284,828, for August, mark a 12% increase from the prior month.
- Zacks
Charles Schwab (SCHW) August Metrics Record Sequential Fall
Charles Schwab's (SCHW) August metrics record sequential decline, including fall in client assets and new brokerage accounts.
- Business Wire
Schwab Reports Monthly Activity Highlights
The Charles Schwab Corporation released its Monthly Activity Report today. Company highlights for the month of August 2019 include:
- Zacks
State Street Cuts Jobs Amid Challenging Operating Backdrop
Amid tough operating environment and lower interest rates, State Street is cutting jobs to maintain profitability.
- Barrons.com
Home Building in the U.S. Still Hasn’t Recovered From the Last Recession. Here’s Why.
Home buying is expected to ‘move further out of reach’ as new home construction still hasn’t returned to pre-recession levels
- Barrons.com
Charles Schwab Is Cutting 600 Jobs as Low Rates Squeeze Profit Margins
Brokerage firm Charles Schwab will reportedly trim 3% of its workforce, or about 600 jobs, as lower interest rates start to squeeze profit margins.
- Zacks
Schwab (SCHW) Plans to Lay Off 600 Employees to Save Costs
Schwab (SCHW) plans to lower headcount in order to support its bottom line by reducing expenses.
- TheStreet.com
Charles Schwab Shares Rise as Financial Giant Confirms Hundreds of Job Cuts
Citing an 'increasingly challenging economic environment,' Charles Schwab says the cuts come after an internal review launched in the spring.
- TheStreet.com
Charles Schwab Reportedly to Cut 600 Jobs, or 3% of Staff
Charles Schwab will cut about 600 jobs, or 3% of its staff, as it deals with lower interest rates, The Wall Street Journal reported. CEO Walt Bettinger discussed the coming layoffs in a recent town hall with some employees, according to an attendee. The cuts are part of an effort to rein in costs as falling interest rates pinch profit at Schwab's banking arm, people familiar with the situation told the Journal.
- Bloomberg
Schwab to Cut 600 Jobs on ‘Challenging’ Economic Climate
(Bloomberg) -- Charles Schwab Corp. said it is cutting 600 jobs, or about 3% of the workforce, as the San Francisco-based broker-dealer and wealth-advisory firm faces “an increasingly challenging economic environment.”“These actions are a prudent step to ensure we manage our expense growth while continuing to invest in initiatives that allow us to achieve greater scale and efficiency,” the firm said Tuesday in a statement. “Impacted positions span all staffing grades, as well as organizations and locations across the company.”Schwab, with about $3.75 trillion in client assets, derives the majority of its revenue from net interest on client cash, which has been squeezed by falling interest rates. The firm began to review its expenses this spring, according to the statement.Falling rates and narrower net interest income have spurred banks including Wells Fargo & Co. to cut earnings outlooks. Asset managers including Legg Mason Inc., BlackRock Inc. and State Street Corp. announced staff reductions this year as they spend more on technology and face unprecedented pressure to reduce fees.Schwab, which has been on the front lines of the fee-cutting war, has been pushing more deeply into advisory services. It agreed in July to pay $1.8 billion for the wealth management operations of USAA, the insurance company that serves military veterans and service members.The Wall Street Journal reported the job cuts earlier.(Adds information on other industry issues starting in fourth paragraph.)To contact the reporter on this story: John Gittelsohn in Los Angeles at johngitt@bloomberg.netTo contact the editors responsible for this story: Alan Mirabella at amirabella@bloomberg.net, Josh Friedman, Dan ReichlFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- American City Business Journals
Charles Schwab laying off hundreds in cost-cutting move
Charles Schwab will cut 600 positions, or 3 percent of its staff, as part of a general cost-cutting effort that some blame on falling interest rates. “This spring, we initiated a process to review our expense base to ensure we remain well-positioned to serve clients while navigating an increasingly challenging economic environment,” Schwab (NYSE: SCHW) said in a statement. “These actions are a prudent step to ensure we manage our expense growth while continuing to invest in initiatives that allow us to achieve greater scale and efficiency — like platform improvements and digital experiences.” Schwab CEO Walt Bettinger discussed the layoffs, starting as soon as next week, at a recent employee meeting, The Wall Street Journal reported Tuesday, citing an unnamed attendee.
- Reuters
Brokerage Charles Schwab says to cut about 600 jobs
The Wall Street Journal reported on Tuesday that the company planned to eliminate nearly 3% of its workforce. Chief Executive Walt Bettinger discussed the job cuts at a recent town hall with some employees, the Journal reported https://on.wsj.com/2A3Llwj, citing an attendee. Charles Schwab said last week it will close its Singapore office by the end of 2019.
- Business Wire
Enhancements to Schwab’s Institutional Intelligent Portfolios® Provide Greater Efficiency, Allow More Customization
Latest paperless feature from Schwab Advisor Services further streamlines automated investing for independent investment advisors
- Business Wire
Feeling the Squeeze: Schwab Survey Finds Gen Xers Burdened by Debt as They Face Financial Pressure on All Sides
401(k) participants aged 39-54 are saving a bit more for the future than other generations, but they’re bogged down by competing financial obligations in the present. According to research from Schwab Retirement Plan Services, many 401(k) participants in Generation X are struggling with credit card and other kinds of debt as they try to save for a comfortable retirement. While a small majority of this group, aged 39 to 54, say they are more focused on saving for retirement (58%), a full 42% say they are more focused on paying off debt right now.
- Barrons.com
3 Financial-Infrastructure Stocks to Consider
Financial advice is becoming commoditized with the rise of “robo advisors” and automated investment portfolios, says one industry observer, but there are a number of “picks and shovels” that stand to be long-term winners.
- InvestorPlace
Should Investors Buy Bank of America Stock?
Bank of America's (NYSE:BAC) investor position indicator recently fell below 2.0 for the first time since January. As a result, BofA market strategist Michael Hartnett hinted that investors should consider buying risk assets such as BAC stock.Source: Tero Vesalainen / Shutterstock.com InvestorPlace - Stock Market News, Stock Advice & Trading TipsBefore you get mad at me for stretching the truth, here's what Hartnett actually said:"The bank's investor position indicator, which tracks 18 measurements on asset flow, sentiment, and price, is falling below 2.0 for the first time since January--a level that signals that investor positions are extremely bearish and triggers a contrarian buy signal for risk assets." * 7 Industrial Stocks to Buy for a Strong U.S. Economy He did not recommend buying BAC stock. However, trading at 1.o5 times its book value, the BAC stock price certainly is attractive relative to some of its peers. Is that enough to make BAC stock a buy?Here are my arguments for and against buying Bank of America stock. The Argument for Buying BAC StockAs I stated above, Bank of America's price/book ratio is pretty darn low. According to a list of the 15 largest U.S. banks by total assets, the average P/B of the 14 banks not named Bank of America is 1.24, approximately 18% higher than BAC. So, on that front, BAC stock is cheaper than its peers. However, there are some outliers. For example, Charles Schwab (NYSE:SCHW) is the 12th-largest U.S. bank with $283 billion in assets. It has a P/B of 2.68 due to its wealth management and brokerage businesses. Excluding Schwab, the average P/B drops to 1.13, 7.5% higher than BAC.More importantly, compared to the largest U.S. bank, JPMorgan (NYSE:JPM), which trades at 1.53 times book, BAC stock provides better value. It also can't hurt to mention that BAC stock is Berkshire Hathaway's (NYSE:BRK.A, NYSE:BRK.B) largest bank holding. Berkshire owns $26.0 billion of BAC stock, representing 12.5% of the holding company's equity portfolio. If you believe in Warren Buffett, that speaks volumes about BAC. The Argument Against Buying Bank of America StockBetween the trade war, which is hurting a wide swath of U.S. companies and the recent interest-rate cut which lowered the amount banks make from their loans, banking stocks are cheap for a reason. And although Federal Reserve Chairman Jay Powell has said further interest rate cuts are unlikely, if the trade war continues well into 2020, the Fed will definitely reconsider its stance.Quite simply, banks' earnings are currently under pressure and will remain so for the foreseeable future. That makes all bank stocks less attractive. Interestingly, despite the fact that all bank stocks are being hurt by the current economic climate, BAC was the only major bank stock to be downgraded by Raymond James analyst Michael Rose last week. Rose cut Bank of America stock from "outperform" to "market perform," due to the bank's inability to generate positive operating leverage in 2020. InvestorPlace writer James Brumley recently referenced Rose's comments about BAC in his article about the bank."We now see its greater than peer asset sensitivity positing a greater challenge to net interest income given further flattening of the yield curve and the potential for several additional rate cuts from here," Rose stated. Brumley further noted that the bank has an unusually large amount of non-interest-bearing deposits that help it during periods of rising interest rates but hurt it when interest rates are falling. BAC 's non-interest-bearing deposits account for 23% of its total funding sources. BAC stock has risen more than most of its peers as a result of the possibility of higher interest rates. However, now that this has been thrown into question, Bank of America stock doesn't have nearly the momentum it did a year ago. The Bottom Line on BAC StockI would wait until the trade war is settled and the direction of the U.S. economy is better understood before buying BAC stock.For those who don't want to wait, I see JPMorgan as the best of the major U.S. banks At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Deeply Discounted Energy Stocks to Buy * 7 Stocks to Buy In a Flat Market * 10 Stocks to Buy to Ride China's Emerging Wealth The post Should Investors Buy Bank of America Stock? appeared first on InvestorPlace.
- Zacks
Interactive Brokers Up 2% as August DARTs Rise Sequentially
Increase in Daily Average Revenue Trades and rise in volatility are expected to support Interactive Brokers' (IBKR) revenues in the upcoming quarters.
- Zacks
Schwab (SCHW) Decides to Close Singapore Office by 2019-End
Schwab (SCHW) to close its Singapore office by the end of this year, just two years after its opening.
- Reuters
Brokerage Charles Schwab closing Singapore office two years after launch
"Charles Schwab Singapore will cease to provide services and will close its office in Singapore. The Singapore office will no longer be licensed to hold accounts and all its client funds will either be transferred to a new broker-dealer or liquidated and returned to clients, a spokeswoman for the company said in an emailed statement, adding the company had decided to focus resources on where it can most effectively serve clients and do it efficiently. Charles Schwab's Singapore office employed about half a dozen staff, said one source familiar with the matter, who did not wish to be identified as the numbers have not been publicly announced.
- Reuters
UPDATE 2-Brokerage Charles Schwab closing Singapore office 2 years after launch
Discount brokerage company Charles Schwab Corp will close its Singapore office by the end of this year, only about two years after opening it in late 2017. "Charles Schwab Singapore will cease to provide services and will close its office in Singapore. The Singapore office will no longer be licensed to hold accounts and all its client funds will either be transferred to a new broker-dealer or liquidated and returned to clients, a spokeswoman for the company said in an emailed statement, adding the company had decided to focus resources on where it can most effectively serve clients and do it efficiently.
