Charles Schwab's Business Thrives Despite Client Cash Concerns and Bank Turmoil
TL;DR
Despite clients withdrawing deposits and moving cash to higher-yielding accounts, Charles Schwab assures that its business is robust. Analysts at Morgan Stanley and Citi have lowered earnings estimates for the money manager due to the shift in client behavior, causing shares to drop 40% this year.
- Charles Schwab Says Business Is Robust, Dismissing Client Cash Concerns Barron's
- Schwab Sees $53B in New Client Money, Wants to Calm Investors After Bank Turmoil Bloomberg
- Charles Schwab: A Buffett-Style 'Fat Pitch' That Could Triple In 3 Years (NYSE:SCHW) Seeking Alpha
- Schwab notched big haul for client assets during March bank chaos Markets Insider
- The hot take on why a 100-basis-point rate rise from here simply can't be dismissed after the Silicon Valley Bank exhale and may put Charles Schwab Bank on the hot seat RIABiz
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