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Charles Schwab’s Estimates Cut at Goldman Sachs (SCHW)

Brokerage operator The Charles Schwab Corporation ( SCHW ) on Thursday saw its earnings estimates lowered by analysts at Goldman Sachs.

The firm said it cut its estimates for SCHW through 2013, citing lower net interest margins and waning trading activity in the company's accounts. Goldman also set a new $12 price target on SCHW shares, suggesting a 9% upside to the stock's Wednesday closing price of $10.97.

Charles Schwab shares, which have fallen nearly 36% year-to-date, were mostly flat in premarket trading Thursday.

The Bottom Line

Shares of Charles Schwab ( SCHW ) have a 2.19% dividend yield, based on last night's closing stock price of $10.97. The stock has technical support in the $10 price area. If the shares can firm up, we see overhead resistance around the $12-$13 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 Nasdaq, Inc.

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

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