Charles Schwab Corporation (NYSE:SCHW) posted better-than-expected second-quarter earnings on Friday.
The company reported second-quarter adjusted earnings per share of $1.14, beating the analyst consensus estimate of $1.07. Quarterly sales of $5.851 billion (+25% year over year) outpaced the Street view of $5.651 billion.
Trading revenue increased 23% to $952 million due to robust volumes, while net interest revenue gained 31% to $2.822 billion.
"Retail investors and RIAs continued to turn to Schwab as a trusted partner, opening over 1 million new brokerage accounts and gathering $80.3 billion in core net new assets – up 31% versus 2Q24," said President and CEO Rick Wurster.
Charles Schwab shares gained 2.9% to close at $95.80 on Friday.
These analysts made changes to their price targets on Charles Schwab following earnings announcement.
- Keefe, Bruyette & Woods analyst Kyle Voigt maintained Charles Schwab with an Outperform rating and raised the price target from $102 to $108.
- B of A Securities analyst Craig Siegenthaler maintained the stock with an Underperform rating and raised the price target from $83 to $84.
- JMP Securities analyst Devin Ryan maintained Charles Schwab with a Market Outperform and raised the price target from $106 to $110.
- Truist Securities analyst David Smith maintained the stock with a Buy and raised the price target from $100 to $107.
Considering buying SCHW stock? Here’s what analysts think:
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