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Charles Schwab’s Q1 Earnings Plunge 20%, but Still Match View (SCHW)

By Dividend.com,  April 16, 2012, 10:17:14 AM EDT

Stock brokerage operator The Charles Schwab Corporation ( SCHW ) on Monday posted a sharp decline in first quarter earnings due to lower fees and higher expenses.

Still, the results met Wall Street expectations.

The San Francisco-based company reported first quarter net income of $195 million, or 15 cents per share, down from $243 million, or 20 cents per share, in the year-ago period.

Revenue fell 1% from last year to $1.19 billion.

On average, Wall Street analysts expected a matching profit of 15 cents per share, on slightly lower revenue of $1.18 billion. The company noted that its lower quarterly results were mainly caused by lower asset management fees and higher expenses.

Charles Schwab shares fell 17 cents, or -1.2%, in early trading Monday.

The Bottom Line
Shares of Charles Schwab ( SCHW ) have a 1.73% dividend yield, based on Friday's closing stock price of $13.87. The stock has technical support in the $12-$13 price area. If the shares can firm up, we see overhead resistance around the $15-$16 price levels.

The Charles Schwab Corporation ( SCHW ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.1 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: SCHW



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