Charles Schwab CEO and Insiders Buy Stock Amid Recovery and Inflows

Charles Schwab CEO Walt Bettinger said the firm is still experiencing significant inflows, with clients moving almost $42 billion in net new assets to the firm in February. Bettinger also revealed he bought 50,000 shares for his personal account, worth nearly $3 million, on Tuesday morning. The Westlake, Texas-based financial company saw its stock fall nearly 12% on Monday, but rebounded 9.2% on Tuesday. Bettinger stressed that Schwab doesn't buy long-duration assets and has a low loan-to-deposit ratio, and that the bank is very conservatively managed.