Analyst Consensus ?
ConsensusHold50 ratings
Bullish2856.0%
Neutral1938.0%
Bearish36.0%
The Charles Schwab Corporation · SCHW · FY2024 Q2 · Calendar Q3 2024
Schwab highlights Ameritrade integration, inflows and technology investment
The supplied analysis supports a cautiously constructive view of Schwab's operating trajectory: completed TD Ameritrade integration, improving client flows, advisory momentum and technology investment provide support, while deposit economics, borrowing costs, capital allocation and residual attrition remain important tests.
Reported Before market openNYSEFinancial Services
$156.64B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.73
Consensus $0.72
EPS surprise
+1.4%
Reported versus consensus
Reported revenue
$6.35B
Consensus $4.68B
Revenue surprise
+35.7%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-10.2%
Event window
SPY move
+0.6%
Same window
Abnormal move
-10.8%
Stock minus SPY
Volume
5.7×
Versus trailing sessions
Subsequent drift
-7.3%
Up to 20 sessions
SCHWSPY benchmark
Ask FN2 about SCHW FY2024 Q2
Transcript, numbers and history already loaded
Why did SCHW fall 10.2% after beating EPS estimates in FY2024 Q2?What changed in SCHW's guidance and outlook in FY2024 Q2?Give me the bull and bear case for SCHW after FY2024 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Relative to the supplied prior-quarter analysis, management said the TD Ameritrade integration was complete and highlighted stronger former-client flows. The current analysis also places more emphasis on third-party-bank deposit arrangements, lending expansion and a gradual shift toward lower-duration bank assets, while guidance remained maintained.
Guidance delta
Management maintained FY2024 guidance, including modest revenue growth and EPS in the $0.80-$0.90 range.
Key takeaways
- Management said the final TD Ameritrade client transition group was complete, with attrition below industry expectations.
- Net new assets were trending toward the stated 5%-7% organic-growth target as former TD Ameritrade flows turned positive.
- Managed Investing and advisory solutions were identified as drivers of fee-based revenue growth.
- The company is expanding lending capabilities while investing in AI and mobile technology.
- Management emphasized capital strength and efficiency alongside a longer-term shift toward lower-duration bank assets.
Management priorities
- Realize the remaining run-rate expense synergies from the TD Ameritrade acquisition.
- Invest in AI-driven technology to lower cost to serve.
- Add mobile-app features and customizable dashboards.
- Expand mortgages, HELOCs and pledged-asset lines.
- Use selected third-party bank partnerships and adjust bank-asset duration over time.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$90.58Current
$56Low
$106.27Average
$145High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Oct 25, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Morgan Stanley | Overweight | Overweight | Maintain | Oct 21, 2026 |
| BMO Capital | Market Perform | Market Perform | Maintain | Oct 19, 2026 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Oct 16, 2026 |
| UBS | Buy | Buy | Maintain | Oct 16, 2026 |
| Truist Securities | Buy | Buy | Maintain | Oct 16, 2026 |
| TD Cowen | Buy | Buy | Maintain | Oct 16, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Oct 16, 2026 |
| Evercore ISI Group | In Line | In Line | Maintain | Oct 16, 2026 |
| Citizens | Market Outperform | Market Outperform | Maintain | Oct 16, 2026 |
| Barclays | Overweight | Overweight | Maintain | Oct 16, 2026 |
| B of A Securities | Underperform | Underperform | Maintain | Oct 5, 2026 |
| Piper Sandler | Neutral | Neutral | Maintain | Oct 2, 2026 |
| Argus Research | Buy | Buy | Maintain | Jul 23, 2026 |
| Raymond James | Outperform | Outperform | Maintain | May 15, 2026 |
| Jefferies | Buy | Buy | Maintain | Apr 6, 2026 |
| Keefe, Bruyette & Woods | Outperform | Outperform | Maintain | Oct 17, 2025 |
| JMP Securities | Market Outperform | Market Outperform | Maintain | Oct 17, 2025 |
| Deutsche Bank | Buy | Buy | Maintain | Oct 17, 2025 |
| Citizens Capital Markets | Market Perform | Market Perform | Maintain | Jul 21, 2025 |
| Citigroup | Buy | Buy | Maintain | Jul 21, 2025 |
| Redburn Atlantic | Neutral | Sell | Upgrade | Jun 9, 2025 |
| TD Securities | Buy | Buy | Maintain | May 20, 2025 |
| Goldman Sachs | Buy | Neutral | Upgrade | Apr 25, 2025 |
| Wolfe Research | Outperform | Outperform | Maintain | Jun 26, 2023 |
| Credit Suisse | Outperform | Outperform | Maintain | May 5, 2023 |
| Redburn Partners | Sell | Neutral | Downgrade | Apr 20, 2023 |
| Erste Group | Buy | Hold | Upgrade | Oct 5, 2022 |
| Compass Point | Buy | Neutral | Upgrade | Apr 12, 2022 |
| Atlantic Equities | Overweight | Overweight | Maintain | Oct 5, 2021 |
| CFRA | Buy | Buy | Maintain | Apr 15, 2020 |
| Keefe Bruyette & Woods | Market Perform | Outperform | Downgrade | Jul 12, 2019 |
| Bank of America | Neutral | Buy | Downgrade | Jul 12, 2019 |
| Bernstein | Perform | Market Perform | Maintain | Apr 10, 2018 |
| Nomura Instinet | Neutral | Buy | Downgrade | Jul 24, 2017 |
| Instinet | Neutral | Buy | Downgrade | Jul 24, 2017 |
| Rosenblatt | Neutral | Neutral | Maintain | Jul 13, 2017 |
| SunTrust Robinson Humphrey | Buy | Hold | Upgrade | Dec 19, 2016 |
| CLSA | Outperform | Outperform | Maintain | Sep 22, 2016 |
| Nomura | Buy | Buy | Maintain | Jul 11, 2016 |
| Argus | Buy | Buy | Maintain | Mar 23, 2016 |
| PiperJaffray | Neutral | Overweight | Downgrade | Dec 18, 2015 |
| RBC Capital | Outperform | Outperform | Maintain | Mar 27, 2015 |
| Evercore Partners | Equal Weight | Underweight | Upgrade | Dec 16, 2013 |
| ISI Group | Buy | Buy | Maintain | May 15, 2013 |
| Sterne Agee | Neutral | Neutral | Maintain | Mar 14, 2013 |
| BGB Securities | Sell | Sell | Maintain | Jul 13, 2012 |
| Topeka Capital | Hold | Hold | Maintain | Jul 11, 2012 |
| Topeka | Hold | Hold | Maintain | Jul 11, 2012 |
| Stifel Nicolaus | Hold | Hold | Maintain | Apr 24, 2012 |
| Stifel | Hold | Buy | Downgrade | Apr 24, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $90.58. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Truist Financial | Analyst unavailable | $115 | $93.38 | +27.0% | Oct 16, 2026 |
| Deutsche Bank | Analyst unavailable | $125 | $93.41 | +38.0% | Oct 16, 2026 |
| UBS | Analyst unavailable | $109 | $94.16 | +20.3% | Oct 16, 2026 |
| Wells Fargo | Analyst unavailable | $103 | $94.16 | +13.7% | Oct 16, 2026 |
| Barclays | Analyst unavailable | $115 | $94.16 | +27.0% | Oct 16, 2026 |
| Goldman Sachs | Alexander Blostein | $117 | $94.16 | +29.2% | Oct 16, 2026 |
| Jefferies | Analyst unavailable | $120 | $94.16 | +32.5% | Oct 16, 2026 |
| Truist Financial | David Smith | $125 | $96.23 | +38.0% | Oct 13, 2026 |
| Morgan Stanley | Michael Cyprys | $141 | $96.87 | +55.7% | Oct 9, 2026 |
| Barclays | Analyst unavailable | $118 | $96.8 | +30.3% | Oct 7, 2026 |
| UBS | Analyst unavailable | $113 | $96.8 | +24.8% | Oct 7, 2026 |
| Loop Capital Markets | Analyst unavailable | $95 | $96.7 | +4.9% | Oct 5, 2026 |
| Wells Fargo | Daniel Welden | $105 | $98.37 | +15.9% | Oct 1, 2026 |
| UBS | Analyst unavailable | $135 | $105.24 | +49.0% | Aug 3, 2026 |
| Compass Point | Ed Engel | $135 | $105.24 | +49.0% | Aug 3, 2026 |
| Morgan Stanley | Michael Cyprys | $136 | $103.9 | +50.1% | Jul 27, 2026 |
| Argus Research | Stephen Biggar | $114 | $102.18 | +25.9% | Jul 23, 2026 |
| Raymond James | Patrick O'Shaughnessy | $145 | $99.79 | +60.1% | Jul 22, 2026 |
| UBS | Michael Brown | $128 | $99.96 | +41.3% | Jul 22, 2026 |
| Wolfe Research | Steven Chubak | $127 | $99.96 | +40.2% | Jul 21, 2026 |
| Piper Sandler | Analyst unavailable | $118 | $100.58 | +30.3% | Jul 21, 2026 |
| BMO Capital | Analyst unavailable | $105 | $101.56 | +15.9% | Jul 20, 2026 |
| Piper Sandler | Analyst unavailable | $112 | $101.1 | +23.6% | Jul 15, 2026 |
| Morgan Stanley | Analyst unavailable | $133 | $102.47 | +46.8% | Jul 10, 2026 |
| Barclays | Benjamin Budish | $122 | $102.19 | +34.7% | Jul 9, 2026 |
| UBS | Analyst unavailable | $122 | $102.79 | +34.7% | Jul 8, 2026 |
| Raymond James | Patrick O'Shaughnessy | $137 | $92.21 | +51.2% | May 15, 2026 |
| Deutsche Bank | Analyst unavailable | $128 | $92.61 | +41.3% | May 15, 2026 |
| Barclays | Analyst unavailable | $127 | $89.44 | +40.2% | May 15, 2026 |
| Argus Research | Analyst unavailable | $108 | $93.15 | +19.2% | Apr 20, 2026 |
| Morgan Stanley | Michael Cyprys | $125 | $91.22 | +38.0% | Apr 17, 2026 |
| Deutsche Bank | Analyst unavailable | $127 | $92.62 | +40.2% | Apr 17, 2026 |
| Morgan Stanley | Analyst unavailable | $135 | $94.27 | +49.0% | Apr 10, 2026 |
| Barclays | Benjamin Budish | $126 | $102.18 | +39.1% | Jan 26, 2026 |
| Deutsche Bank | Analyst unavailable | $131 | $104.87 | +44.6% | Jan 22, 2026 |
| Truist Financial | Analyst unavailable | $122 | $104.27 | +34.7% | Jan 22, 2026 |
| UBS | Analyst unavailable | $125 | $101.79 | +38.0% | Jan 22, 2026 |
| Barclays | Benjamin Budish | $125 | $101.79 | +38.0% | Jan 22, 2026 |
| Piper Sandler | Analyst unavailable | $105 | $101.18 | +15.9% | Jan 14, 2026 |
| Wolfe Research | Analyst unavailable | $120 | $100.17 | +32.5% | Jan 12, 2026 |
| Barclays | Analyst unavailable | $120 | $101.93 | +32.5% | Jan 8, 2026 |
| Wolfe Research | Analyst unavailable | $122 | $102.92 | +34.7% | Jan 7, 2026 |
| UBS | Analyst unavailable | $123 | $102.88 | +35.8% | Jan 7, 2026 |
| Truist Financial | Analyst unavailable | $120 | $103.57 | +32.5% | Jan 7, 2026 |
| Raymond James | Patrick O'Shaughnessy | $114 | $104.02 | +25.9% | Jan 5, 2026 |
| Morgan Stanley | Analyst unavailable | $148 | $98.82 | +63.4% | Dec 22, 2025 |
| Barclays | Analyst unavailable | $111 | $97.02 | +22.5% | Dec 12, 2025 |
| UBS | Michael Brown | $119 | $95.81 | +31.4% | Dec 11, 2025 |
| Morgan Stanley | Analyst unavailable | $139 | $93.73 | +53.5% | Nov 3, 2025 |
| Truist Financial | Analyst unavailable | $113 | $93.41 | +24.8% | Oct 17, 2025 |
| Goldman Sachs | Analyst unavailable | $114 | $93.41 | +25.9% | Oct 17, 2025 |
| Deutsche Bank | Brian Bedell | $120 | $93.41 | +32.5% | Oct 17, 2025 |
| Barclays | Analyst unavailable | $114 | $94.01 | +25.9% | Oct 8, 2025 |
| Truist Financial | Analyst unavailable | $112 | $92.49 | +23.6% | Oct 2, 2025 |
| Morgan Stanley | Michael Cyprys | $130 | $92.81 | +43.5% | Oct 1, 2025 |
| Deutsche Bank | Analyst unavailable | $113 | $91.03 | +24.8% | Sep 16, 2025 |
| Raymond James | Patrick O\'Shaughnessy | $99 | $95.25 | +9.3% | Jul 18, 2025 |
| Wells Fargo | Michael Brown | $102 | $93.1 | +12.6% | Jul 18, 2025 |
| Piper Sandler | Patrick Moley | $70 | $72.26 | -22.7% | Jan 7, 2025 |
| Barclays | Benjamin Budish | $95 | $81.47 | +4.9% | Dec 9, 2024 |
| Jefferies | Daniel Fannon | $84 | $71.96 | -7.3% | Oct 16, 2024 |
| Goldman Sachs | Alexander Blostein | $74 | $71.96 | -18.3% | Oct 16, 2024 |
| Morgan Stanley | Michael Cyprys | $68 | $71.96 | -24.9% | Oct 15, 2024 |
| JMP Securities | Devin Ryan | $84 | $71.96 | -7.3% | Oct 15, 2024 |
| JMP Securities | Devin Ryan | $82 | $64.75 | -9.5% | Jul 23, 2024 |
| Jefferies | Daniel Fannon | $88 | $73.39 | -2.8% | Jul 8, 2024 |
| Deutsche Bank | Brian Bedell | $81 | $72.54 | -10.6% | Jun 18, 2024 |
| Barclays | Benjamin Budish | $72 | $72.27 | -20.5% | May 27, 2024 |
| Barclays | Benjamin Budish | $75 | $72.34 | -17.2% | May 23, 2024 |
| Deutsche Bank | Brian Bedell | $83 | $72.65 | -8.4% | May 23, 2024 |
| Goldman Sachs | Alexander Blostein | $75 | $75.27 | -17.2% | May 23, 2024 |
| UBS | Brennan Hawken | $91 | $75.27 | +0.5% | May 23, 2024 |
| Piper Sandler | Patrick Moley | $85 | $71.23 | -6.2% | Apr 16, 2024 |
| Goldman Sachs | Alexander Blostein | $76 | $71.23 | -16.1% | Apr 16, 2024 |
| Wolfe Research | Steven Chubak | $84 | $72.33 | -7.3% | Apr 15, 2024 |
| Goldman Sachs | Alexander Blostein | $72 | $72.48 | -20.5% | Apr 15, 2024 |
| Morgan Stanley | Michael Cyprys | $71 | $72.37 | -21.6% | Apr 9, 2024 |
| Barclays | Benjamin Budish | $74 | $71.89 | -18.3% | Apr 8, 2024 |
| Deutsche Bank | Brian Bedell | $77 | $68.35 | -15.0% | Mar 19, 2024 |
| Wolfe Research | Steven Chubak | $74 | $67.4 | -18.3% | Mar 18, 2024 |
| JMP Securities | Devin Ryan | $73 | $57.38 | -19.4% | Jul 10, 2023 |
| Credit Suisse | Bill Katz | $66.5 | $54.06 | -26.6% | Apr 18, 2023 |
| Barclays | Charles Schwab | $56 | $50.77 | -38.2% | Apr 14, 2023 |
| Credit Suisse | Bill Katz | $67.5 | $56.68 | -25.5% | Mar 15, 2023 |
| UBS | Analyst unavailable | $97 | $85.98 | +7.1% | Jan 9, 2023 |
| Barclays | Analyst unavailable | $83 | $78.19 | -8.4% | Dec 19, 2022 |
| Deutsche Bank | Analyst unavailable | $101 | $78.58 | +11.5% | Nov 15, 2022 |
| Deutsche Bank | Brian Bedell | $80 | $63.39 | -11.7% | Jul 5, 2022 |
| Deutsche Bank | Brian Bedell | $84 | $63.28 | -7.3% | May 23, 2022 |
| Deutsche Bank | Brian Bedell | $98 | $68.54 | +8.2% | Apr 27, 2022 |
| Morgan Stanley | Analyst unavailable | $123 | $69.95 | +35.8% | Apr 25, 2022 |
| Deutsche Bank | Brian Bedell | $111 | $70.32 | +22.5% | Apr 25, 2022 |
| UBS | Brennan Hawken | $72 | $70.32 | -20.5% | Apr 24, 2022 |
| Citigroup | Analyst unavailable | $90 | $71.13 | -0.6% | Apr 22, 2022 |
| Piper Sandler | Analyst unavailable | $100 | $73.27 | +10.4% | Apr 22, 2022 |
| Morgan Stanley | Michael Cyprys | $132 | $77.59 | +45.7% | Apr 21, 2022 |
| Compass Point | Chris Allen | $98 | $82.75 | +8.2% | Apr 16, 2022 |
| Deutsche Bank | Brian Bedell | $114 | $81.58 | +25.9% | Apr 11, 2022 |
| Goldman Sachs | Will Nance | $100 | $81.69 | +10.4% | Apr 8, 2022 |
| Piper Sandler | Richard Repetto | $110 | $81.69 | +21.4% | Apr 8, 2022 |
| Bank of America Securities | Craig Siegenthaler | $112 | $81.86 | +23.6% | Apr 5, 2022 |
| Deutsche Bank | Brian Bedell | $122 | $95.53 | +34.7% | Jan 17, 2022 |
| UBS | Brennan Hawken | $90 | $89.77 | -0.6% | Jan 4, 2022 |
| Wolfe Research | Steven Chubak | $90 | $83.19 | -0.6% | Oct 22, 2021 |
| Atlantic Equities | John Heagerty | $95 | $75.57 | +4.9% | Oct 5, 2021 |
| Compass Point | Christopher Allen | $75 | $74.1 | -17.2% | Oct 1, 2021 |
| Wells Fargo | Christopher Harris | $88 | $74.42 | -2.8% | Jun 2, 2021 |
| Barclays | Jeremy Campbell | $70 | $66.51 | -22.7% | Apr 23, 2021 |
Track every rating change on SCHW the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationThe Charles Schwab Corporation (SCHW) stands as a prominent financial services enterprise, delivering a comprehensive suite of offerings that encompass wealth management, securities trading and brokerage, banking services, asset administration, custodial solutions, and financial planning advice. Its operations are primarily structured around two core divisions: Investor Services and Advisor Services. The Investor Services segment caters directly to individual retail clients, furnishing a range of services such as brokerage accounts, investment guidance, banking and trust administration, retirement planning, and corporate brokerage offerings. It further assists businesses with the full-service recordkeeping of equity compensation plans (e.g., stock options, restricted stock, performance shares), provides clearing services for retail investors and mutual funds, and offers compliance solutions. Conversely, the Advisor Services segment provides a robust support system for independent investment advisors.…
Historical context
All SCHW earningsFinancial Services peers this season
Latest reports in the same sector
Latest beats and misses
Who reports nextBeat on EPS
- FCNCAFY2026 Q3 · October 23, 2026+19.9% EPS+8.2% move
- FCNCNFY2026 Q3 · October 23, 2026+19.9% EPS+0.2% move
- FCNCOFY2026 Q3 · October 23, 2026+19.9% EPS+1.0% move
- FCNCPFY2026 Q3 · October 23, 2026+19.9% EPS+1.0% move
- RDYFY2027 Q2 · October 23, 2026+24.0% EPS-0.2% move
- SLBFY2026 Q3 · October 23, 2026+3.7% EPS+7.1% move
Missed on EPS
- INFYFY2027 Q2 · October 23, 2026-4.8% EPS-6.6% move
- BBDFY2026 Q3 · October 22, 2026-7.7% EPS+3.0% move
- SNAFY2026 Q3 · October 22, 2026-5.9% EPS-3.4% move
- SPOTFY2026 Q3 · October 22, 2026-11.6% EPS+11.1% move
- VRSNFY2026 Q3 · October 22, 2026-2.0% EPS-0.9% move
- HBANMFY2026 Q3 · October 22, 2026-5.3% EPS+0.5% move
Get the SCHW recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2024-11-11T06:39:45.180704+00:00
- Polygon adjusted daily market bars · 2026-10-24T23:40:41.085912+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-24T23:40:41.083150+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-24. For educational purposes only; not investment advice.