Charles Schwab Corp (NYSE:SCHW) Continues To Rise
On Monday, Charles Schwab Corp (NYSE:SCHW) reported earnings growth that has topped its third-quarter estimates. To a large extent, this was helped by the fact that retail investors has re-entered the market and were taking more risk. There was a 16% rise to 22cents/share in the company’s brokerage-earnings which was an increase of 2 cents and has been the highest rise in 2 years. There was a 14.5% rise in revenue, which was a 13 year high and touched $1.37B in comparison with the $1.34B estimates. This was also the highest top line growth in the past 10 quarters.
In a statement, Walt Bettinger, the company’s Chief Executive officer said that the interest rate environment has been at historic lows. Despite this, the company’s Q3 revenues surpassed all its earlier quarterly results except for the unusual spike that the company experienced when the internet bubble was at its peak. The job market has been improving steadily though at a slow pace and retail investors are now heading back towards stocks.
In Tuesday’s trading, Charles Schwab Corp (NYSE:SCHW) rose by 4.63%. The opening price of the shares was $22.78, which climbed to an intraday high of $23.79 and dipped to a close of $23.03. Approximately 31.14 million shares were traded on Tuesday while an average volume of 7.17 million shares were traded over a 30 day period. The 52-week low of Charles Schwab Corp (NYSE:SCHW) shares is $12.47 and its 52-week high is $23.79. The company has a market capitalization of $29.61 billion.
About the company
Charles Schwab Corp (NYSE:SCHW) is a savings and a loan-holding company. Via its subsidiaries, it is involved in securities-brokerage, banking as well as related financial-services. It provides financial-services to individuals and its institutional clients via two segments: 1) Investor Services and 2) Institutional Services. The Investor Services unit provides retail-brokerage and banking-services to its individual investors.