Charles Schwab: Cash Headwinds Persist In Q2 (Downgrade)

JHVEPhoto Shares of Charles Schwab (NYSE:SCHW) fell 6% on Tuesday after reporting disappointing earnings, as the company continues to struggle with declining client cash utilization. While shares are still up about 20% from a year ago, the longer-term performance has been disappointing. Shares are actually still lower than when I last covered the company in October 2022, mistakenly rating shares a buy, as the regional banking crisis of 2023 damaged its business model, dependent on low-cost deposits. Wit ...