Barclays Maintains an 'Equalweight' on Charles Schwab (SCHW); April 2011 Performance Analysis

Barclays maintains an 'Equalweight' on Charles Schwab Corp. (NYSE: SCHW), PT $19.

Barclays analyst says, "April was a good month for SCHW, in our view. Trading activity slightly outperformed peers and net brokerage account additions were particularly robust. While net new assets were a negative $500mm, this was due to expected seasonal tax-related flows."

"Total Trades: 435.0k (flat sequentially). This was a slightly better-than-expected result compared to our 5% sequential decline estimate, 11% decline in US equity exchange ADV and TD Ameritrade's (Nasdaq: AMTD) 3% decline...Brokerage Accounts: +40k to 8,112k (+0.5% rate). April was a robust month, but not unexpected given the seasonally high activity in advertising and focus on retirement accounts. Running slightly ahead of our full quarter pace estimate."

For more ratings news on Charles Schwab Corp. click here and for the rating history of Charles Schwab Corp. click here.

Shares of Charles Schwab Corp. closed at $17.64 yesterday.

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