|Bid||32.92 x 300|
|Ask||64.25 x 100|
|Day's range||54.97 - 56.13|
|52-week range||37.16 - 56.13|
|PE ratio (TTM)||35.37|
|Earnings date||16 Jan 2018 - 22 Jan 2018|
|Forward dividend & yield||0.32 (0.58%)|
|1y target est||59.94|
Bank of America and Goldman Sachs will report earnings on Wednesday during a pivotal week for the banking sector.
Citigroup (C) beat expectations with this morning’s report of $1.28 earnings per share, well over analysts’ expectations of $1.19, and Wednesday morning will see three significant financials earnings announcements: Goldman Sachs Group (GS), Bank of America (BAC), and Charles Schwab (SCHW). Morgan Stanley (MS) reports Thursday morning, and analyst consensus is for revenue of $9.2 billion and earnings of $0.76 per share.
Modest rise in trading revenues along with higher net interest income might support Schwab's (SCHW) Q4 results. However, higher costs might be a drag.
The Massachusetts Securities Division confirmed that it sent letters of inquiry to the three largest discount brokers by assets, Fidelity, Charles Schwab Corp. and TD Ameritrade, according to the Wall Street Journal. Yesterday we summarized it like this: “The Journal’s reporting looked at Fidelity, Charles Schwab and TD Ameritrade, all known for bringing low-cost investing to the masses.
Investors who seek advice from discount brokerage firms might assume the counsel they get is impartial, given how these firms have rejected the old Wall Street model of working on commissions. In fact, advisers at some of the biggest discount brokerage firms make more money if they steer clients toward more-expensive products, according to disclosures from the firms and people who used to work at them. “Clients hear the representative doesn’t work on commissions, and they think that means a rep doesn’t work on incentives,” said Jeff Weeks, former manager of a Fidelity Investments branch in Austin, Texas.