Stocks Analysis by Brian Gilmartin covering: Citigroup Inc, Bank of America Corp, Goldman Sachs Group Inc, Charles Schwab Corp. Read Brian Gilmartin's latest article on Investing.com
The two financial services stocks that this blog thinks will benefit from a positively-sloped yield curve are Charles Schwab and the SPDR® S&P Regional Banking ETF loans that are held by the regional banks. The City of Chicago has a 20% – 30% vacancy rate on much of its commercial real estate property , with talk of the City converting much of LaSalle Street to luxury residential property from commercial office space.
There is no question that the post-Covid volatility and the Treasury yield curve gymnastics has been a tougher environment in which to operate Schwab’s balance sheet and business model.When Schwab reports their Q3 ’24 financial Tuesday Tuesday morning, the street is expecting EPS of $0.75, operating income of $2.1 billion and net revenue of $4.77 billion for y-o-y growth of -3% EPS, +12% operating income growth, and +4% revenue growth.
Looking at “revenue-per-employee” metrics, swallowing TD Ameritrade increased headcount from 21,000’ish to the low 30,000’s , so that’s like a bowling ball moving through a snake, but the revenue metrics and hopefully the pre-tax operating margin will start to reflect higher productivity for Chuck and some earnings leverage to kick in.
A trade over $70 takes SCHW back above the 50 and 200-week moving averages, while trade back down to $50 is not a plus, and the stock remains range bound. After EPS fell 49% in 2022 and then -24% last year , EPS growth for calendar ’24 is expected to grow 56%, and thus the last three year average will be -4%.
Bank Of America Corp Goldman Sachs Group Inc Charles Schwab Corp
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