Charles Schwab Corp. (SCHW) Reiterated at Market Outperform by Citizens on Beat And Raise

Citizens analyst Devin Ryan reiterated a Market Outperform rating and $120.00 price target on Charles Schwab Corp. (NYSE: SCHW).

The analyst commented, "Charles Schwab delivered a strong beat-and-raise quarter, with record results, improving organic growth and a materially more bullish net interest margin outlook supporting higher estimates. Adjusted EPS of $1.62 increased 42% YoY and exceeded our $1.55 estimate and consensus by $0.07, or 5%. Net revenue increased 21% YoY to a record $7.07B, approximately $156M above consensus, while adjusted pretax income increased 31% and adjusted pretax margin expanded ~420 bps to 54.3%. Revenue exceeded expectations across Net Interest Revenue, Trading, Bank Deposit Account Fees and Other revenue, while expenses were only modestly above our assumptions despite record client activity and continued investment."

For an analyst ratings summary and ratings history on Charles Schwab Corp. click here. For more ratings news on Charles Schwab Corp. click here.

Shares of Charles Schwab Corp. closed at $99.96 yesterday.

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