Industry

Two Financial Stocks Are Hot: The Charles Schwab Corporation (SCHW), U.S. Bancorp (USB)

The Charles Schwab Corporation (SCHW) ended last trading session with a change of 1.18 percent. It trades at an average volume of 7.91M shares versus 5.02M shares recorded at the end of last trading session. The share price of $42.98 is at a distance of 81.54 percent from its 52-week low and down -0.88 percent versus its peak. The company has a market cap of $57.07B and currently has 1.33B shares outstanding. The share price is currently 3.18 percent versus its SMA20, 4.49 percent versus its SMA50, and 26.68 percent versus its SMA200. The stock has a weekly performance of 2.07 percent and is 9.11 percent year-to-date as of the recent close.

March 10, 2017 — The Charles Schwab Corporation (SCHW) In a gathering of 100 independent advisor clients, who represent $61 billion in assets under management (AUM),1 Schwab Advisor Services celebrated the momentum of the independent advice model while pointing to the $23 trillion dollars of assets2 still advised outside the model and challenging attendees to focus on new investor acquisition.

At Schwab’s inaugural ADVANTAGE® conference, Jon Beatty, senior vice president and head of sales and relationship management, told attendees, “The RIA industry has a ton of momentum, and we believe there is potential for further acceleration thanks to such factors as increasing business optimism and the growing number of investors seeking guidance and a relationship with someone they can trust. When the winds are at your back, it is a perfect time to get serious about acceleration, and new investor acquisition strategies are critical to take advantage of this environment.”

U.S. Bancorp (USB) recently recorded -0.04 percent change and currently at $54.92 is 45.35 percent away from its 52-week low and down -2.99 percent versus its peak. It has a past 5-day performance of -0.67 percent and trades at an average volume of 6.55M shares. The stock has a 1-month performance of 2.58 percent and is 6.91 percent year-to-date as of the recent close. There were about 1.69B shares outstanding which made its market cap $92.99B. The share price is currently -0.25 percent versus its SMA20, 3.21 percent versus its SMA50, and 18.91 percent versus its SMA200.

On March 4, 2017 U.S. Bancorp (USB) announced that it has provided notice of its intent to redeem on April 15, 2017, all of its outstanding Series G Non-Cumulative Perpetual Preferred Stock, par value $1.00 per share (the “Series G Preferred Stock”), and the corresponding depositary shares, each representing a 1/1,000th interest in a share of the Series G Preferred Stock (the “Series G Depositary Shares”). The Series G Preferred Stock will be redeemed at a redemption price per share equal to $25,000 (equivalent to $25 per Series G Depositary Share). Because the redemption date is also a dividend payment date, the redemption price does not include any accrued and unpaid dividends.

 

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