Charles Schwab Corp (SCHW) is Upgraded by BofA/Merrill to Buy

Charles Schwab Corp (SCHW) was Upgraded by BofA/Merrill to ” Buy”. Earlier the firm had a rating of “Neutral ” on the company shares. BofA/Merrill advised their investors in a research report released on Oct 13, 2016.

Many Wall Street Analysts have commented on Charles Schwab Corp. Morgan Stanley Initiated Charles Schwab Corp on Sep 26, 2016 to “Overweight”, Price Target of the shares are set at $37.Company shares were Reiterated by Barclays on Aug 9, 2016 to “Overweight”, Firm has raised the Price Target to $ 34 from a previous price target of $29 .

On the company’s financial health, Charles Schwab Corp reported $0.30 EPS for the quarter, based on the information available during the earnings call on Jul 18, 2016. Analyst had a consensus estimate of $0.30. The company had revenue of $1828.00 million for the quarter, compared to analysts expectations of $1796.25 million. The company’s revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.25 EPS.

Charles Schwab Corp closed down -0.55 points or -1.69% at $31.9 with 70,41,914 shares getting traded on Tuesday. Post opening the session at $32.4, the shares hit an intraday low of $31.65 and an intraday high of $32.61 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Oct 5, 2016, Marie A Chandoha (President – CSIM) sold 6,076 shares at $32.00 per share price. According to the SEC, on Aug 8, 2016, Nigel J Murtagh (EVP – Corporate Risk) sold 2,500 shares at $29.72 per share price. On Jul 25, 2016, Terri R Kallsen (EVP – Investor Services) sold 6,894 shares at $28.01 per share price, according to the Form-4 filing with the securities and exchange commission.

The Charles Schwab Corporation (CSC) is a savings and loan holding company. Through its subsidiaries the Company engages in wealth management securities brokerage banking money management 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 and banking services to individual investors retirement plan services and corporate brokerage services. The Advisor Services segment provides custodial trading and support services to independent investment advisors (IAs) and retirement business services to independent retirement plan advisors and record keepers. The Company offers a range of products to address individuals’ varying investment and financial needs. Its product offerings include brokerage mutual funds exchange-traded funds (ETFs) advice solutions banking and trust.

Charles Schwab Corp

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