SCHW - The Charles Schwab Corporation
44.75 0.00 (0.00%)
After hours: 5:04PM EST
| Previous close | 44.40 |
| Open | 44.07 |
| Bid | 43.44 x 1100 |
| Ask | 44.85 x 1100 |
| Day's range | 43.63 - 44.81 |
| 52-week range | 34.58 - 48.23 |
| Volume | 5,789,492 |
| Avg. volume | 8,420,476 |
| Market cap | 57.382B |
| Beta (3Y monthly) | 1.32 |
| PE ratio (TTM) | 16.51 |
| EPS (TTM) | 2.71 |
| Earnings date | 14 Jan 2020 - 20 Jan 2020 |
| Forward dividend & yield | 0.68 (1.53%) |
| Ex-dividend date | 2019-11-07 |
| 1y target est | 43.20 |
- Zacks
Will Rise in New Accounts Aid Online Brokers Earn More Fees?
Online brokers record a rise in new account opening in October. While this means that their strategy to attract more investors is working, it's wait and watch as to how they gain financially.
- Zacks
Charles Schwab (SCHW) Records Increase in October Metrics
Charles Schwab's (SCHW) client assets in October 2019 increase year over year as well as from the prior month.
- Bloomberg
Schwab Boosts New Trading Accounts 31% After Fees Go to Zero
(Bloomberg) -- Charles Schwab Corp.’s free trading offer is turning out to be a hit, drawing in new customers at a fast clip.Clients opened 142,000 new trading accounts in October, a 31% jump over September’s pace , according to a report Thursday before markets opened. Total brokerage accounts climbed to 12.2 million and firmwide assets grew to a record $3.85 trillion.Schwab escalated the brokerage industry’s price war on Oct. 1 when it eliminated commissions on U.S. stocks, mutual funds, exchange-traded funds and some options. The move is likely to hit revenue but is aimed at wooing new assets to the San Francisco-based firm, which has been generating most of its income from interest earned on client cash holdings.Average interest-earning assets were $266 billion in October, little changed from September and up about 1% from a year earlier. The gain in brokerage accounts is just 7% more than October 2018.Other brokerages that cut commissions have reported divergent trends in October client activity:E*Trade Financial Corp., which announced zero commission trades shortly after Schwab, posted 9% month-over-month and year-over-year jumps in daily average revenue trades, or DARTs, a key measure of customer activity.TD Ameritrade Holding Corp.said DARTs were 11% higher in October than September but down 8% from a year earlier.Interactive Brokerage Group Inc., which announced commission-free stock and ETF trading in September, said DARTs dropped 5% month-over-month and 19% year-over-year.A more detailed picture of the bottom-line impact of the fee change will be available in January, when Schwab reports fourth-quarter results.(Adds interest earning assetsd 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: Sam Mamudi at smamudi@bloomberg.net, Josh Friedman, Alan MirabellaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Zacks
E*TRADE (ETFC) Reports 9% Sequential Growth in October DARTs
Rise in Daily Average Revenue Trades is likely to support E*TRADE's (ETFC) financials going forward.
- Zacks
LPL Financial (LPLA) October Brokerage & Advisory Assets Up
Steadily rising brokerage and advisory assets will support LPL Financial's (LPLA) top-line growth in the quarters ahead.
- Bloomberg
Charles Schwab Joins Chorus of Billionaires Opposing Wealth Tax
(Bloomberg) -- Charles Schwab, founder of the giant discount brokerage firm, is joining other finance billionaires in opposing the wealth tax backed by presidential candidate Elizabeth Warren.“It’s sort of wrong-directed in many ways,” Schwab said Tuesday for a future episode of “The David Rubenstein Show: Peer-to-Peer Conversations” on Bloomberg TV. “I came from really nothing and had plenty of incentive to create what we’ve created.”Schwab echoed comments by hedge fund billionaire Leon Cooperman in arguing that tax-the-rich proponents underplay the charitable contributions the wealthy already make to society through philanthropy.Schwab, 82, who founded San Francisco-based Charles Schwab Corp. in the 1970s, said he and his wife have backed causes including the arts and Alzheimer’s research for decades.In other comments:Schwab said his company’s recent move to make online trading in stocks, exchange-traded funds and options free will only cost about 4% of revenue, as it’s more focused on broader services such as financial advice.Schwab didn’t have any stock tips for Rubenstein, the co-founder of Carlyle Group LP. “I know Carlyle a lot and you’ve done a fantastic job. How about an index fund?”To contact the reporter on this story: Josh Friedman in Los Angeles at jfriedman25@bloomberg.netTo contact the editors responsible for this story: Sam Mamudi at smamudi@bloomberg.net, Alan MirabellaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Bloomberg
‘I Hated Commissions,’ Says Charles Schwab After Ending Them
(Bloomberg) -- Charles Schwab, founder of the giant discount brokerage, said he has always hated charging commissions and he’s glad to be “out of the business.”“I hated commissions,” Schwab, 82, said Tuesday at the Impact 2019 conference in San Diego. “I hated them then. I hate ’em now. I took ’em away.”Charles Schwab Corp. roiled the brokerage industry when it eliminated fees for U.S. stocks, exchange traded funds and options. The move escalated a long-simmering price war spurred by investors who have moved to the cheapest investment products.Also at the conference, Schwab Chief Executive Officer Walter Bettinger said the firm plans to build its lending business for financial advisers. This will allow them to challenge bank-affiliated brokers, he said.“You’ll see us building out more capabilities when it comes to lending, so you can compete with anyone who offers lending,” Bettinger said. Schwab aims to offer loans including mortgages and other lending through registered investment advisers.While Schwab’s roots in the 1970s were as a discount broker, the company, like industry rivals, is seeking to lure more investors to its advisory business. It has a range of advice offerings, from a free basic robo-advice platform to dedicated financial advisers, whose fees can start at 0.8% of assets per year.Some on Wall Street are skeptical of the strategy. Raymond James downgraded Charles Schwab on Tuesday to market perform from outperform on skepticism the company can “meaningfully pivot towards a more advisory-type business model in a zero commission world,” analyst Patrick O’Shaughnessy wrote in a note.(Adds comments from CEO Walter Bettinger starting in the fourth paragraph.)\--With assistance from Felice Maranz.To contact the reporter on this story: John Gittelsohn in Los Angeles at johngitt@bloomberg.netTo contact the editors responsible for this story: Sam Mamudi at smamudi@bloomberg.net, Alan Mirabella, Vincent BielskiFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Zacks
Interactive Brokers Stock Declines on Lower October DARTs
Decline in Daily Average Revenue Trades is likely to hurt Interactive Brokers' (IBKR) top- line growth to some extent.
- Investing.com
Stocks - Wall Street Inch Higher as Mixed Earnings Offsets Trade Hopes
Investing.com – Wall Street inched higher on Tuesday as mixed earnings releases offset rising hopes of a trade deal between Washington and Beijing, fueled by newspaper reports suggesting the U.S. is ready to compromise on some of China's core demands.
- Bloomberg
Square Officially Announces Free Stock Trading on Cash App
(Bloomberg) -- One more company has officially jumped on the free stock trading bandwagon. Over the next few weeks, Jack Dorsey’s Square Inc. will start allowing customers to buy and sells stocks for free on its cash payments app.The company started testing the new feature of its Cash App in September, Bloomberg earlier reported. Now, Square has begun rolling it out to non-employees, though it’s still only available to a small subset of the app’s customers, a company spokesman said. The product will be available for all users by the end of 2019.For years, free stock trading was the purview of only a few platforms like Robinhood Markets Inc., which now has a valuation of $7.6 billion. But earlier this month, one of the largest brokerages, Charles Schwab Corp., announced plans to eliminate commissions for U.S. stocks, exchange traded funds and options. TD Ameritrade Holding Corp. followed suit, slashing its commissions to zero the same day, and E*Trade Financial Corp. the day after. Fidelity Investments, Vanguard Group and Interactive Brokers have also eliminated fees and commissions on a range of offerings.Square’s Cash App started out by letting users send money to friends, and has since expanded into debit cards and Bitcoin trading. While Square doesn’t consistently give updates on how many people are using Cash App, the company said it had more than 15 million monthly active users as of last December. In its most recent letter to shareholders, Square said that revenue from Cash App was $135 million for the quarter, excluding Bitcoin.To contact the reporter on this story: Julie Verhage in New York at jverhage2@bloomberg.netTo contact the editors responsible for this story: Jillian Ward at jward56@bloomberg.net, Anne VanderMey, Andrew PollackFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Zacks
Raymond James (RJF) Q4 Earnings & Revenues Beat Estimates
Higher revenues support Raymond James' (RJF) fiscal Q4 earnings.
- Zacks
TD Ameritrade (AMTD) Q4 Earnings Beat, Trading Activity High
TD Ameritrade's (AMTD) Q4 fiscal 2019 (ending Sep 30) earnings performance highlights top-line strength, higher expenses and steady trading activity.
- Yahoo Finance
Charles Schwab on millennial FIRE trend: Fantastic!
Billionaire financial pioneer Charles Schwab, founder of The Charles Schwab Corporation, applauds millennials who are saving more than half of their income to prepare for retirement.
- Zacks
E*TRADE (ETFC) Q3 Earnings & Revenues Beat, Costs Flare Up
E*TRADE's (ETFC) Q3 performance displays a rise in non-interest income, a benefit to provision for loan losses and improved DARTs, partly muted by fall in net interest income and higher expenses.
- Yahoo Finance
Charles Schwab: 'People have to learn how to deal with the volatility of free markets'
Charles Schwab provides investing tips.
- Yahoo Finance
Charles Schwab: I’m not worried about job losses from technology
Billionaire businessman Charles Schwab isn’t worried about job losses from automation and the rise of technology.
- Zacks
Interactive Brokers (IBKR) Q3 Earnings Down, Revenues Up Y/Y
Higher expenses hurt Interactive Brokers' (IBKR) Q3 earnings. However, increase in revenues offers some support.
- Zacks
Schwab (SCHW) Q3 Earnings & Revenues Beat, Expenses Rise
Amid lower interest rates, Schwab's (SCHW) Q3 earnings reflect rise in client assets and higher asset management fees.
- Investing.com
Charles Schwab Earnings, Revenue Beat in Q3
Investing.com - Charles Schwab reported third quarter earnings that beat analysts' expectations on Tuesday and revenue that topped forecasts.
- Yahoo Finance
How do brokerage firms make money: Yahoo U
Yahoo Finance's Brian Cheung explains how brokerage firms make money amid their recent move to cut commissions.
