Schwab (CHARLES) Corp. (The) - SCHW STOCK NEWS

Charles Schwab has unveiled the 1973 Schwab Bronco as this year's champion's prize for the 2023 Charles Schwab Challenge golf tournament. The Bronco symbolizes Schwab's 50-year legacy of challenging the status quo and making investing more accessible. The fully restored and modernized vehicle features cutting-edge technology and a Ford 2023 Gen 3 Coyote 5.0L engine with 465 horsepower. Schwab also announced new programming elements for the PGA TOUR event, including a work experience event with The Simpson Cup and the return of the digital content series 'The Challengers.'

The Charles Schwab Corporation announced a quarterly cash dividend of $0.25 per common share, payable on May 26, 2023, to shareholders of record as of May 12, 2023. Additionally, the Board declared dividends on various series of preferred stock, payable on June 1, 2023, to stockholders of record as of May 17, 2023. Key dividends include:

• 5.95% Series D: $14.88
• 5.00% Series F: $2,500.00
• 5.375% Series G: $1,343.75
• 4.00% Series H: $1,000.00

Schwab serves over 34.1 million active brokerage accounts and manages $7.58 trillion in client assets, providing a broad range of financial services.

BetterInvesting Magazine has selected The Charles Schwab Corp. (NASDAQ: SCHW) as its 'Stock to Study' and Match Group Inc. (NASDAQ: MTCH) as its 'Undervalued Stock' for the July 2023 issue. This decision aims to inform and educate investors about potential investment opportunities. Ken Zendel, CEO of NAIC, emphasized the success of following investment principles over the past 70 years, noting that consistent investing can yield rewards despite market volatility. The magazine encourages investors to use its online tools to analyze the stocks' fundamentals. However, these selections are for educational purposes and should not be viewed as endorsements for purchase. BetterInvesting remains committed to empowering individuals with financial education.

The Charles Schwab Corporation reported a strong performance for Q1 2023, with net income increasing 14% year-over-year to $1.6 billion and net revenues rising 10% to $5.1 billion. The GAAP pre-tax profit margin stood at 41.2%, while the adjusted profit margin was 45.8%. The company opened over 1 million new brokerage accounts and attracted $132 billion in net new assets, resulting in an annualized organic growth rate exceeding 7%. Despite a mixed macroeconomic backdrop, Schwab’s asset management segment displayed resilience with Managed Investing solutions net flows up 26% to $8.9 billion. Additionally, the quarterly dividend was raised by 14% to $0.25 per share. However, the company paused its buyback program amidst regulatory uncertainty following recent banking sector turmoil.

The Charles Schwab Corporation (NYSE: SCHW) has announced a Spring Business Update for institutional investors on April 17, from 6:00 a.m. to 7:00 a.m. PT. This live public webcast aims to provide insights into the company's recent developments and strategic focus. Key participants will include Co-Chairman and CEO Walt Bettinger, President Rick Wurster, and CFO Peter Crawford. As of February 28, 2023, Schwab reported $7.38 trillion in client assets, with 34 million active brokerage accounts. Investors can access the webcast at schwabevents.com/corporation.

Charles Schwab has announced significant enhancements to its Personalized Indexing service, providing clients with advanced portfolio customization options and improved digital capabilities. Retail clients can now exclude individual stocks and entire industries, guided by a predictive tracking error tool. A new digital dashboard offers real-time insights into account values and tax-loss harvesting performance. The service, launched in April 2022, requires a minimum investment of $100,000, lower than many competitors. These updates aim to enhance user experience and differentiate Schwab in the direct indexing market.

The Charles Schwab Corporation (NYSE: SCHW) reported significant client inflows, with approximately $16.5 billion in core net new assets over the week from 3/10/23 to 3/16/23. This reflects strong client trust, bolstered by Schwab's conservative balance sheet and robust liquidity. The firm serves over 34 million account holders and manages $7.38 trillion in client assets as of February 28, 2023. Schwab remains a stable option for investors, emphasizing its comprehensive range of financial services and commitment to supporting clients in diverse economic environments.