Charles Schwab Corporation (TheNYSE: SCHW
Financials · Investment Banking & Brokerage
$91.53
-3.15%
Vol: 11.1M
Research Digest
Thursday, June 18, 2026
Charles Schwab reports record $49.9B net new assets in May and $13.14T total client assets as Deutsche Bank and TD Cowen raise price targets.
Charles Schwab's May 2026 activity report showed core net new assets of $49.9B (+43% YoY), a monthly record, with total client assets reaching $13.14 trillion (+27% YoY) and new brokerage accounts picking up sharply. Deutsche Bank raised its price target from $127 to $128 (Buy) following an investor day, and TD Cowen analyst Bill Katz raised his target from $108 to $109 (Buy). Schwab Asset Management also cut fees on four major index ETFs and committed over $20M to youth investing education. The stock trades around $91–94, roughly 21% below the $116 analyst consensus target, and is down ~10% YTD. Risk: sustained low interest rates would compress net interest income, which remains a key revenue driver for Schwab's brokerage model.
Previous Market Intelligence
13 daysJun 17No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 16No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 15No significant overnight updatesNeutral▶
No material news in the last 48 hours.
Jun 14Schwab shares jumped after a record May activity report showing $13.14T client assets and 461,000 new accounts.Positive▶
Charles Schwab reported strong May 2026 monthly activity highlights, with core net new assets up 43% YoY to a record $49.9 billion for the month and total client assets reaching $13.14 trillion, up 27% YoY. New brokerage accounts totaled 461,000, up 37% YoY, and daily average trades hit a record 11.8 million on robust equity and ETF engagement. The stock rose 3.71% on June 12, 2026 on the report. Following its 2026 Investor Day, TD Cowen raised its target to $109 (Buy) on higher 2026-2027 EPS estimates, while Piper Sandler raised its target to $105 (Neutral). The data underscores strong client momentum, though monetary/rate conditions remain a swing factor for net interest revenue.
May 21Schwab raises 2026 revenue growth guidance to 14-15% at investor day, launches generative AI for retail clients, and begins crypto trading rollout.Positive▶
At its investor day, Charles Schwab raised 2026 annual revenue growth guidance to 14-15% (from 9.5-10.5%) and lifted net interest margin guidance to 3.0-3.1% (from 2.85-2.95%). Schwab launched its first generative AI capability for U.S. retail clients on May 5, delivering tailored AI-powered summaries combining portfolio performance, market news, and SCFR commentary, with full retail rollout by end of May. The company began phased rollout of direct Bitcoin and Ether trading for eligible retail clients. Q1 2026 net revenues rose 16% to $6.48B with GAAP net income of $2.48B; Schwab repurchased $2.4B in stock and raised the quarterly dividend 19% to $0.32. Client assets ended April at a record $12.61T (+27% YoY). TD Cowen raised target to $109 (Buy); Barclays raised to $127 (Overweight). Co-Chairman Charles R. Schwab sold 27,500 shares for $2.54M on May 18 at $92.29-$92.60.
May 20Schwab launches first generative AI 'Portfolio Insights' and Schwab Crypto spot trading; co-chairman Charles R. Schwab files Form 144/Form 4 disclosing $2.54M in insider stock sales.Positive▶
Charles Schwab launched its first generative AI 'Portfolio Insights' tool for U.S. retail clients within Schwab.com and the mobile app, and announced Schwab Crypto, a spot crypto trading offering beginning a phased retail rollout. April-end client assets reached $12.61T, up 27% YoY and 7% MoM, underscoring strong organic growth. Insider activity surfaced this week: co-chairman Charles R. Schwab disclosed about $2.54M of stock sales in a Form 4, and Form 144 filings were noted on May 18, 2026. The firm modestly raised its 2026 outlook at its semiannual institutional investor day, citing solid YTD performance. Recent target adjustments at Deutsche Bank and Raymond James reflect mixed sentiment on costs and competition. Risk: crypto/AI launch execution, expense growth, and net interest income sensitivity to rates.
May 19Schwab raises 2026 revenue outlook to 14-15% growth as it expands AI tools to retail clientsPositive▶
Charles Schwab guided full-year 2026 revenue growth to 14-15%, well above the 11.5% analyst consensus, in a presentation tied to its investor day. The firm launched its first generative AI capability for U.S. retail clients on May 5, delivering tailored portfolio and market summaries, with full rollout to self-directed clients by end of May. Schwab also introduced a Teen Investor joint brokerage for ages 13-17. Q1 2026 net revenues rose 16% to $6.48B with $140B core net new assets and total client assets reaching $11.77T. The quarterly dividend was raised 19% to $0.32 per share. TD Cowen raised PT to $109 (Buy). Risk: Co-chairman Charles R. Schwab sold $2.54M of stock, and a $11B+ three-part senior notes offering adds leverage.
May 18Schwab raises 2026 revenue growth guidance to 14-15% and net interest margin to 3-3.1% at Institutional Investor Day.Positive▶
Charles Schwab held its Institutional Investor Day in mid-May and raised full-year 2026 revenue growth guidance to 14-15%, up materially from prior outlook. Net interest margin guidance was lifted to 3.0-3.1% from 2.85-2.95%. CEO Rick Wurster outlined an AI strategy in which generative AI becomes a 'front door' for mass-affluent clients under $1 million in assets, building on the firm's first GenAI rollout to retail clients on May 5. April client assets reached $12.61 trillion, up 27% year over year. Multiple analysts raised price targets on May 15 following the bullish guidance update.
May 15Schwab guides 2026 revenue growth up to 15% at May 14 investor day, well above 11.5% consensusPositive▶
At its May 14 investor day, Schwab guided full-year 2026 revenue growth of 14-15% versus 11.5% analyst consensus, with Q2 revenue expected up 16-17% YoY. The company began rolling out spot BTC and ETH retail crypto trading on May 13 and launched its first generative AI summary tool for self-directed retail clients on May 5. April core net new assets were $7.2B with total client assets reaching $12.61T (up 27% YoY). CEO Rick Wurster is positioning AI to extend wealth-tier service to less-affluent customers. Raymond James raised its price target to $137 from $126 (Outperform). Q1 net revenues rose 16% to $6.48B; $2.4B repurchased and dividend raised 19% to $0.32. Director Arun Sarin sold $227,910 in stock.
May 14Schwab launched direct Bitcoin and Ether trading on May 13, 2026, charging 0.75% per trade across its $12T client asset base.Positive▶
Charles Schwab began rolling out spot crypto trading to a first wave of eligible retail clients, offering direct Bitcoin and Ether trades at a 0.75% fee with Paxos handling execution/sub-custody and Schwab Premier Bank as primary custodian. Separately, CEO Rick Wurster said AI will be a 'real accelerant' for serving less-affluent customers, following the May 5 launch of the firm's first generative AI portfolio-summary tool for retail. The combined moves position Schwab to capture digital-asset flows from its ~$12T asset base and broaden its wealth-management funnel. The risk is fee compression in crypto if competition (Fidelity, Robinhood, Coinbase) undercuts the 0.75% take rate, plus execution risk on AI rollout. The redemption of Series I preferred shares (effective June 1) and recent Q1 record results add capital-return support, but crypto exposure brings volatility and regulatory scrutiny.
May 13Charles Schwab launched first generative AI capability for U.S. retail clients on May 5, 2026, alongside Q1 2026 record results with revenue up 16% to $6.48B.Positive▶
Charles Schwab launched its first generative AI capability for U.S. retail clients on May 5, 2026, providing AI-powered summaries combining portfolio performance, market news, and Schwab research commentary. Rollout expands to all self-directed U.S. retail clients by end of May. Q1 2026 net revenues rose 16% to $6.48B with GAAP EPS of $1.37 (adjusted $1.43) and core net new assets of $140B. Total client assets reached $11.77T. The Board declared a $0.32 quarterly dividend (19% increase) payable May 22, with $2.4B repurchased in the quarter. Shares trade at $89.40, down 6.5% over six months versus S&P 500 +7.7%.
May 12Charles Schwab launched its first generative AI tool for retail clients on May 5 after settling SEC charges and a FINRA sanction, leaving shares down ~3%.Mixed▶
Schwab launched its first generative AI capability for U.S. retail clients on May 5, delivering tailored summaries combining portfolio performance, market news and Schwab Center for Financial Research commentary, with rollout to all self-directed clients by end of May. Shares dipped more than 3% in early May after the firm settled SEC allegations and received a FINRA sanction, while full-year guidance trailed consensus despite a Q1 beat. Q1 net revenues rose 16% to $6.48B with GAAP EPS of $1.37 (adjusted $1.43), core net new assets of $140B, and total client assets of $11.77T. The board declared a $0.32 quarterly dividend payable May 22 (record May 8), and will redeem $2.055B of Series I preferred stock effective June 1. The stock traded near $87.87 on May 12.
May 11Charles Schwab launched its first generative AI capability for U.S. retail clients on May 5, 2026, with director and co-chairman insider stock sales totaling over $15 million in the past week.Mixed▶
Charles Schwab rolled out its first generative AI tool delivering tailored portfolio summaries to U.S. retail clients starting May 5, 2026, with full rollout by end of May. Co-Chairman Charles Schwab sold 168,743 shares for proceeds of $15.4 million, and another director sold over $914k. The company declared a quarterly dividend of $0.32 per share payable May 22. Shares dipped earlier in May after the firm settled SEC allegations and gave cautious 2026 EPS guidance below consensus. Schwab also announced redemption of all outstanding Series I preferred depositary shares effective June 1, 2026.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| MSMORGAN | $223.28 | -0.75% | +12.8% | 17.6x | 1.22 | $352.0B |
| GSGOLDMAN | $1,098.69 | -0.04% | +11.7% | 16.7x | 1.29 | $323.5B |
| IBKRINTERACTIVE | $96.07 | +1.03% | +14.6% | 33.4x | 1.33 | $162.8B |
| SCHWSCHWAB | $91.53 | -3.15% | +1.8% | 12.6x | 0.77 | $159.5B |
| HOODROBINHOOD | $108.14 | +2.79% | +42.8% | 38.0x | 2.35 | $97.4B |
| RJFRAYMOND | $156.18 | -1.63% | +2.5% | 11.7x | 0.95 | $30.4B |
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Price below 200d MA — bearish structure.