Charles Schwab Corp (SCHW) announced its most recent quarterly financial results on Monday, Oct-17-2016. SCHW said it had a profit of $0.34 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $0.33. The company posted revenue of $1914.00 million in the period, compared to analysts expectations of $1887.02 million. SCHW’s revenue was up 19.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS.
Many Wall Street Analysts have commented on Charles Schwab Corp. Charles Schwab Corp was Upgraded by BofA/Merrill to ” Buy” on Oct 13, 2016. 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 .
Charles Schwab Corp opened for trading at $31.94 and hit $32.21 on the upside on Friday, eventually ending the session at $31.97, with a gain of 1.72% or 0.54 points. The heightened volatility saw the trading volume jump to 76,84,029 shares. Company has a market cap of $42,296 M.
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.