Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  The Charles Schwab Corporation    SCHW

THE CHARLES SCHWAB CORPORATION

(SCHW)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Charles Schwab : Schwab Announces Depositary Shares Offering

03/23/2021 | 07:37am EDT

The Charles Schwab Corporation today announced an underwritten public offering of depositary shares, each representing a 1/40th interest in a share of its Non-Cumulative Perpetual Preferred Stock, Series J, with a liquidation preference of $1,000 per share (equivalent to $25 per depositary share). The company intends to use the net proceeds it receives from the sale of the depositary shares to redeem all or a portion of the outstanding shares of its Non-Cumulative Perpetual Preferred Stock, Series C (Series C Preferred Stock) and the corresponding depositary shares, each representing an interest in a share of Series C Preferred Stock.

BofA Securities, Inc., Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, and Wells Fargo Securities, LLC are serving as the joint book-running managers of this offering.

The offering will be made pursuant to the company’s effective registration statement, including a prospectus and a related preliminary prospectus supplement, filed with the Securities and Exchange Commission. Before investing, investors should read the prospectus in that registration statement, the related preliminary prospectus supplement and other documents the company has filed with the Securities and Exchange Commission, for more complete information about the company and the offering. The offering is being made solely by means of a prospectus and related prospectus supplement, copies of which may be obtained for free by visiting the SEC’s website at www.sec.gov or by contacting one of the joint book-running managers using the information provided below. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful. Additionally, this announcement does not constitute a notice of redemption with respect to the Series C Preferred Stock and the related depositary shares.

About Charles Schwab

The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services. Through its operating subsidiaries, the company provides a full range of wealth management, securities brokerage, banking, asset management, custody, and financial advisory services to individual investors and independent investment advisors.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. These forward-looking statements include statements regarding the company’s intended offering of depositary shares and the intended use of proceeds of the offering. These forward-looking statements are subject to risks and uncertainties, including: demand for depositary shares and the pricing of the depositary shares that are sold, if any; and other risks disclosed in the registration statement on Form S-3 filed with the Securities and Exchange Commission on December 4, 2020 and in the company’s Annual Report on Form 10-K for the year ended December 31, 2020.

Joint Book-Running Managers Contact Information

  • BofA Securities, Inc., NC1-004-03-43, 200 North College Street, 3rd floor, Charlotte, NC 28255-0001, Attn: Prospectus Department or email at dg.prospectus_requests@bofa.com
  • Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, 6933 Louis Stephens Drive, Morrisville, NC 27560, United States; tel: 1-800-221-1037, e-mail: usa.prospectus@credit-suisse.com
  • J.P. Morgan Securities LLC, 383 Madison Avenue, New York, NY 10179, Attn – Investment Grade Syndicate Desk or telephone at 1-212-834-4533
  • Morgan Stanley & Co., LLC, 180 Varick Street, New York, NY 10014, Attention: Prospectus Department or telephone at (866) 718-1649 or e-mail at prospectus@morganstanley.com
  • Wells Fargo Securities, LLC, 608 2nd Avenue South, Suite 1000, Minneapolis, MN 55402, Attn: WFS Customer Service or telephone toll-free at 1-800-645-3751 or email at wfscustomerservice@wellsfargo.com


© Business Wire 2021
All news about THE CHARLES SCHWAB CORPORATION
12:56pCHARLES SCHWAB  : Barclays Adjusts Charles Schwab PT to $65 From $54, Maintains ..
MT
09:15aTHE CHARLES SCHWAB CORPORATION  : quaterly earnings release
04/09CHARLES SCHWAB  : JP Morgan Adjusts Charles Schwab's Price Target to $81 From $7..
MT
04/09CHARLES SCHWAB  : Jefferies Adjusts Charles Schwab's Price Target to $76 From $7..
MT
04/09CHARLES SCHWAB  : Deutsche Bank Adjusts Charles Schwab's Price Target to $79 Fro..
MT
04/09CHARLES SCHWAB  : JMP Securities Upgrades Charles Schwab to Market Outperform Fr..
MT
04/08CHARLES SCHWAB  : Schwab Announces Its Spring Business Update
BU
04/08Google-backed TAE Technologies raises $280 mln from new, existing investors
RE
04/08THE RISE OF THE INVESTOR GENERATION : 15% of U.S. Stock Market Investors Got The..
BU
04/07CHARLES SCHWAB  : UBS Adjusts Charles Schwab's PT to $68 From $58, Citing Equity..
MT
More news
Financials (USD)
Sales 2021 17 534 M - -
Net income 2021 4 969 M - -
Net cash 2021 19 239 M - -
P/E ratio 2021 26,1x
Yield 2021 1,11%
Capitalization 127 B 127 B -
EV / Sales 2021 6,17x
EV / Sales 2022 5,70x
Nbr of Employees 32 000
Free-Float 77,1%
Chart THE CHARLES SCHWAB CORPORATION
Duration : Period :
The Charles Schwab Corporation Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends THE CHARLES SCHWAB CORPORATION
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 73,00 $
Last Close Price 67,57 $
Spread / Highest target 28,8%
Spread / Average Target 8,04%
Spread / Lowest Target -26,0%
EPS Revisions
Managers and Directors
NameTitle
Walter William Bettinger President, Chief Executive Officer & Director
Peter B. Crawford Chief Financial Officer & Executive Vice President
Charles Robert Schwab Chairman
Tim Heier Chief Technology Officer & Executive VP
Dennis Howard Chief Information Officer & Executive VP
Sector and Competitors
1st jan.Capitalization (M$)
THE CHARLES SCHWAB CORPORATION27.39%127 383
MORGAN STANLEY17.79%150 990
THE GOLDMAN SACHS GROUP, INC.25.44%117 583
CITIC SECURITIES COMPANY LIMITED-20.75%38 352
CSC FINANCIAL CO., LTD.-4.08%26 188
CHINA MERCHANTS SECURITIES CO., LTD.-20.01%22 144