Backtested performance is not an indicator of future actual results. How can investors see the warning signs of a company at risk? Join TipRanks’ webinar to learn more.ĭisclaimer: The TipRanks Smart Score performance is based on backtested results. Plus, thanks to an average price target of $91.13, Schwab stock has 37.10% upside potential. Analyst consensus currently calls Schwab stock a Moderate Buy. Yet even with this substantial loss, analysts are still supporting Charles Schwab, at least to some degree. Grant, revealed that “A lot of institutional investors don’t feel great about owning certain banks right now.” Keefe, Bruyette & Woods’ head of trading, R.J. That had a limited contagion effect go throughout a swath of bank stocks as a whole. SVB lost around half of its value at one point, especially when it noted it was planning to put out $1.25 billion in new stock so that it could slow its cash burn rate. The seller wasn’t publicly disclosed, but some noted that Schwab’s February numbers were set to release on Tuesday, which might have explained some of the urge to sell.Īlso potentially explaining the big drop for Schwab were the results posted by SVB Financial Group ( NASDAQ:SIVB).
That represented a slight discount over the price seen at this morning’s opening. Said shares came with a price tag between $73 and $74 each. Reports noted that the sell-off in question was being run through JPMorgan ( NYSE:JPM) and amounted to somewhere around 8.5 million shares. This is all thanks to a report that emerged about a potential block sell-off of Schwab stock. A bit of a mystery emerged around Charles Schwab ( NYSE:SCHW), and it didn’t do the bank stock any favors as it lost nearly 13% in Thursday’s trading.
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